Warehouse with Secured Paved
For Sale
$14,800,000
22601 76th Ave, Kent, WA 98032
Available now warehouse with a fully secure fenced, paved yard plus dock-high and grade-level loading.
Property Size49,412 SF
Lot Size1.25 Acres
Price / SF$299.52
Days on Market41
Property Features for 22601 76th Ave
General Information
Standard status
Active
Size
49,412 SF
Lot size
1.25 Acres
Property subtype
Industrial
Zoning
I1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
4,997 SF
Dock-High Doors
2
Drive-In Doors
4
Power
600 amps
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Asking Price
$14,800,000
Building Details
Year Built
1973
Building Size
49,412 SF
Listed By:
Bob Cooke
(509) 327-2282
Source:
Rhcooke.idxbroker
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 8 at 7:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bob Cooke
Investment Insights
Based on property information with market context.
Warehouse property available now in Kent, WA, offering 49,412 SF total building area with 4,997 SF office space. The facility includes 24’ clear height and loading consisting of 2 dock high doors and 4 grade level doors.
Operational support includes 600 amps of 277/480 volt power (tenant to verify) and two (2) six-ton overhead cranes. The site is 1.25 acres, fully secure, fenced, and paved.
For access and routing, the property provides visibility on 228th Street with great access to SR 167 and West Valley Highway. Power and site layout should be verified during due diligence, including any tenant-specific requirements.
Operational support includes 600 amps of 277/480 volt power (tenant to verify) and two (2) six-ton overhead cranes. The site is 1.25 acres, fully secure, fenced, and paved.
For access and routing, the property provides visibility on 228th Street with great access to SR 167 and West Valley Highway. Power and site layout should be verified during due diligence, including any tenant-specific requirements.
Key Highlights
- 49,412 SF total building with 4,997 SF office space
- 24’ clear height with 2 dock high doors and 4 grade level doors
- 1.25‑acre fully secure, fenced, and paved site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$572,033
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,440,660
$11.4M
Cap Rate 7%
$8,171,900
$8.2M
Cap Rate 9%
$6,355,922
$6.4M
Market Conditions
NOI Build-Up for 49,412 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$717.5K $14.52/SF
− Vacancy
−$44.5K −$0.90/SF
EGI
$673.0K $13.62/SF
− OpEx
−$100.9K −$2.04/SF
NOI
$572.0K $11.58/SF
Area
Kent, WA
Vacancy
6.20%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,440,660
Cap Rate 7%
$8,171,900
Cap Rate 9%
$6,355,922
Alternative Uses
Best Use
Warehouse
$8.17M
$7.15M – $9.53M
NOI $572,033 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.52M
$16.20M – $21.60M
NOI $1,296,195 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
2
Dock-high doors
4
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98032, WA
38,744
Population
15,639
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
84%
High-School Grad
17.0 sq mi
ZIP Area
2,279
Density / Sq Mi
$77,413
Median Household Income
$46,105
Median Earnings
$1,782
Median Rent
$473,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 6850 S 238th St, Kent, WA 98032
- U-Store Self Storage Kent — 301 Novak Ln, Kent, WA 98032
- Bridge Storage Kent — 22915 86th Ave S, Kent, WA 98031
- Seattle Boat Company - Kent — 7260 S 224th St, Kent, WA 98032
Frequently Asked Questions
What type of property is this?
Warehouse - Available now warehouse with a fully secure fenced, paved yard plus dock-high and grade-level loading.
Where is this warehouse located?
The property is located at 22601 76th Ave Kent, WA.
What is the asking price?
The asking price for this property is $14,800,000.
What are key features of this property?
This property features: 49,412 SF total building with 4,997 SF office space; 24’ clear height with 2 dock high doors and 4 grade level doors; 1.25‑acre fully secure, fenced, and paved site
