Kent Automotive Property For
For Sale
Contact for pricing
24433 Pacific Hwy S, Kent, WA 98032
Single-tenant automotive property with 10 roll-up doors and ample parking.
Property Size5,380 SF
Price / SF$315.99
Days on Market283
Property Features for 24433 Pacific Hwy S
General Information
Standard status
Active
Size
5,380 SF
Property subtype
Industrial, Retail
Zoning
CM
Investment Type
Owner/User
Building Details
Year Built
1967
Year Renovated
2000
Buildings
1
Stories
1
Listing Agency:
NAI Puget Sound Properties
(425) 586-5608
Listed By:
Kyle Sterling · License #WA 126435
Source:
Crexi
Added: Nov 10, 2025
Changed: Aug 13
Last Checked: Aug 19 at 10:07PM
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
Investment Insights
Based on property information with market context.
This single-tenant automotive property is located in Kent, WA. The standalone building has 5,380 square feet and features 10 roll-up doors, spacious service bays, a paint booth, and a customer-facing office/lobby area. The property includes generous on-site parking on a fully paved lot. Currently occupied by Skip’s Auto Body, this property presents an opportunity for an owner-user buyer. The business is also available for sale and must be purchased with the real estate.
Key Highlights
- Single‑tenant automotive property occupied by Skip's Auto Body
- Business (Skip's Auto Body) is available for sale and must be purchased with the real estate
- 5,380 square‑foot standalone building
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
$78,980
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
4.65%
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%
$1,579,600
$1.6M
Cap Rate 7%
$1,128,286
$1.1M
Cap Rate 9%
$877,556
$877.6K
Market Conditions
NOI Build-Up for 5,380 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
$118.1K $21.96/SF
− Vacancy
−$5.3K −$0.99/SF
EGI
$112.8K $20.97/SF
− OpEx
−$33.8K −$6.29/SF
NOI
$79.0K $14.68/SF
Area
Kent, WA
Vacancy
4.50%
Lease Rate
$21.96 /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%
$1,579,600
Cap Rate 7%
$1,128,286
Cap Rate 9%
$877,556
Alternative Uses
Best Use
Retail
$1.13M
$987.3K – $1.32M
NOI $78,980 @ 7.0% cap · market cap 4.65%
Second Best
Industrial
$732.7K
$641.2K – $854.9K
NOI $51,292 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,130 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Les Schwab Tire Center — 25101 Pacific Hwy S, Kent, WA 98032
- Premier Automotive Services — Premier Automotive Services, 25009 Pacific Hwy S, Kent, WA 98032
- Flores Auto Repair and Tires — 2824 S 252nd St, Kent, WA 98032
- Deano — 25030 34th Ave S, Kent, WA 98032
- Abra Auto Body & Glass — Kent, WA 98032
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant automotive property with 10 roll-up doors and ample parking.
Where is this auto shop located?
The property is located at 24433 Pacific Hwy S Kent, WA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Single‑tenant automotive property occupied by Skip's Auto Body; Business (Skip's Auto Body) is available for sale and must be purchased with the real estate; 5,380 square‑foot standalone building
