Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Mixed-Use Building For Sale Title is generated by Realmo AI

    235 Airport Way S, Renton, WA 98057

    View on Map
    Claim this Listing
    For Sale
    $2,700,000

    12,520 SF building with warehouse and office space.

    Type:Commercial
    Added:
    Jan 15, 2025
    Days on Market:
    502
    Last Refresh:
    May 11 at 1:00 am

    Property Features for 235 Airport Way S

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    CHRIS O'CONNOR

    Listing agent CHRIS O'CONNOR

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Jan 15, 2025

    Source Corcoran

    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 NAI PUGET SOUND PROPERTIES

    HighLights

    • Owner‑User Opportunity
    • CA Zoning: Permits Wholesale, Auto Repair, Retail, Office, Light Manufacturing (AD)
    • 10,000 SF warehouse and 2,520 SF office space
    • Total Building Size: 12,520 SF
    • Ample Parking
    • Grade Level Loading

    Overview

    This 12,520 square-foot building offers a versatile space suitable for various business operations. It includes 10,000 square feet of warehouse area and 2,520 square feet of office space. The property is zoned CA, which permits wholesale, auto repair, retail, office, and light manufacturing activities. The building features grade-level loading and ample parking. This property presents an owner-user opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Iron Mountain Information Management — 1055 S Grady Way, Renton, WA 98057
    • Self-Storage at U-Haul — 453 Rainier Ave N, Renton, WA 98057

    Location Insight

    • Map
    • Local Demand
    City
    Renton
    County
    King
    State
    Washington
    Longitude
    -122.216
    Latitude
    47.4831

    Nearby Similar for Sale

    • $995,000
      3,881 SF

      Built-Out Office Suite For Sale

      881 SF office suite with 6 private offices.
      321 Burnett Ave S, Renton, WA 98057
      View Details
    • $1,150,000
      2,630 SF

      Prime Commercial Property on Park

      Commercial property with patio, bar, kitchen, and parking.
      351 Park Ave N, Renton, WA
      View Details
    • $3,950,000
      13,385 SF

      Renton Office Space For Sale

      High-quality office space in Renton, near various amenities and lodging.
      200 SW 41st St, Renton, WA 98057
      View Details
    • $3,850,000
      10,068 SF

      Renton Retail/Auto Sales Property

      Retail/auto sales property in Renton with expansion potential.
      720 Rainier Avenue South, Renton, WA, 98057
      View Details
    • $3,300,000

      Renton Investment Property For Sale

      Single-tenant net-leased investment property with a 14-year lease.
      3205 4th St, Renton, WA 98056
      View Details
    • $28

      Renton Office Space For Sale

      Six-story office building with convenient highway access and ample parking.
      15 S Grady Way, Renton, WA 98057
      View Details
    • Contact for pricing

      Prime Location Net Leased Investment

      Located in a high-traffic area near major businesses and retail.
      780 Logan Ave N, Renton, WA 98057
      View Details
    • $1,300,000
      1,755 SF

      Renton Flex Space with Secured Yard

      Flex space with secured yard, convenient access to major highways.
      1500 Raymond Ave SW, Renton, WA 98057
      View Details
    • Contact for pricing
      23,400 SF

      Standalone Industrial Facility For Sale

      23,400 SF industrial building with secured yard in Renton.
      838 Seneca Ave SW, Renton, WA 98057
      View Details
    • $2,950,000
      9,882 SF

      Office

      941 Powell Avenue Southwest, Renton, WA, 98057
      View Details
    • $120,000
      850 SF

      Renton Restaurant with Type 1 Hood

      Fully built-out restaurant space with Type 1 hood for sale.
      G-1630 Duvall Avenue Ne, Renton, WA 98059
      View Details
    • Contact for pricing
      29,628 SF

      Climate Controlled Industrial Space

      29,628 SF thermoregulated warehouse with retail showroom potential.
      720 SW 34th St, Renton, WA 98057
      View Details

    FAQs

    What type of property is this?
    Warehouse - 12,520 SF building with warehouse and office space.
    Where is this warehouse located?
    The property is located at 235 Airport Way S Renton, WA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Owner‑User Opportunity; CA Zoning: Permits Wholesale, Auto Repair, Retail, Office, Light Manufacturing (AD); **10,000 SF warehouse and 2,520 SF office space**
    (425) 586-5640
    We can help!
    Listing Contact
    CHRIS O'CONNOR
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    235 Airport Way S, Renton, WA 98057
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!