Kent Stand-Alone Building For
For Sale
Contact for pricing
22645 76th Ave S, Kent, WA 98032
Stand-alone building suitable for manufacturing and distribution with income potential.
Property Size22,224 SF
Price / SF$229.48
Days on Market284
Property Features for 22645 76th Ave S
General Information
Standard status
Active
Size
22,224 SF
Property subtype
Industrial
Building Details
Year Built
1981
Year Renovated
2015
Buildings
1
Listing Agency:
Kidder Mathews
(206) 248-7313
Listed By:
Kraig Heeter · License #WA 873006752
Source:
Crexi
Added: Nov 10, 2025
Changed: Aug 12
Last Checked: Aug 20 at 1:49PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This stand-alone building is located in Kent, near SR-167, with proximity to I-5, I-405, and SR-18. The property is suitable for manufacturing and distribution uses. It features 1,200 amps of power. The building is situated on a hard corner, offering identity and location for an owner/user. The property has a size of 22,224 square feet. An owner/user can occupy approximately 2/3 of the building while receiving income from the remaining portion of the building, as the seller is willing to lease back for 3 to 5 years.
Key Highlights
- Stand‑alone building ideal for Owner/User: Occupy 2/3 of the building and receive income from the remaining portion (Seller leaseback).
- Excellent location near SR‑167 with close proximity to I‑5, I‑405 & SR‑18.
- High power capacity: 1,200 amps.
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
$211,880
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
4.15%
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%
$4,237,600
$4.2M
Cap Rate 7%
$3,026,857
$3.0M
Cap Rate 9%
$2,354,222
$2.4M
Market Conditions
NOI Build-Up for 22,224 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
$322.7K $14.52/SF
− Vacancy
−$20.0K −$0.90/SF
EGI
$302.7K $13.62/SF
− OpEx
−$90.8K −$4.09/SF
NOI
$211.9K $9.53/SF
Area
Kent, WA
Vacancy
6.20%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
30.00%
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%
$4,237,600
Cap Rate 7%
$3,026,857
Cap Rate 9%
$2,354,222
Alternative Uses
Best Use
Industrial
$3.03M
$2.65M – $3.53M
NOI $211,880 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.33M
$7.29M – $9.72M
NOI $582,989 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Industrial property - Stand-alone building suitable for manufacturing and distribution with income potential.
Where is this industrial property located?
The property is located at 22645 76th Ave S Kent, WA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Stand‑alone building ideal for Owner/User: Occupy 2/3 of the building and receive income from the remaining portion (Seller leaseback).; Excellent location near SR‑167 with close proximity to I‑5, I‑405 & SR‑18.; High power capacity: 1,200 amps.
