Multi-Tenant Building Near SR
For Sale
Contact for pricing
Pending
2500 E Valley Rd, Renton, WA 98057
Multi-tenant building with lease income and owner-user potential.
Property Size30,576 SF
Days on Market191
Property Features for 2500 E Valley Rd
General Information
Standard status
Pending
Size
30,576 SF
Property subtype
Industrial, Office
Zoning
CA
Lease Type
NNN
Building Details
Year Built
1991
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Kidder Mathews South Seattle
Listed By:
Jim Kidder · License #WA KIDDEJD363Q
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 12 at 9:25AM
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 South Seattle
Investment Insights
Based on property information with market context.
This multi-tenant building offers a total property size of 30,576 square feet. Suite A, comprising 18,200 square feet, is currently leased through October 2029 and includes three 5-year options. Suite C offers 12,376 square feet of available space for lease at $1.20 per square foot for shell condition, with an additional $1.25 per square foot for office build-out. The property presents a possible opportunity for an owner-user. It features abundant on-site parking and visibility from SR 167.
Key Highlights
- Leased Suite A provides guaranteed income stream through Oct. 2029 with option to extend.
- Suite C offers 12,376 sf of available space for lease.
- Potential for owner‑user occupancy.
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
$541,081
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
5.41%
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%
$10,821,620
$10.8M
Cap Rate 7%
$7,729,729
$7.7M
Cap Rate 9%
$6,012,011
$6.0M
Market Conditions
NOI Build-Up for 30,576 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
$1.01M $33.00/SF
− Vacancy
−$287.6K −$9.41/SF
EGI
$721.4K $23.60/SF
− OpEx
−$180.4K −$5.90/SF
NOI
$541.1K $17.70/SF
Area
Renton, WA
Vacancy
28.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$10,821,620
Cap Rate 7%
$7,729,729
Cap Rate 9%
$6,012,011
Alternative Uses
Best Use
Office B
$7.73M
$6.76M – $9.02M
NOI $541,081 @ 7.0% cap · market cap 5.41%
Second Best
Flex RnD
$5.61M
$4.91M – $6.55M
NOI $392,798 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$9.96M
$8.72M – $11.62M
NOI $697,353 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant building with lease income and owner-user potential.
Where is this flex space located?
The property is located at 2500 E Valley Rd Renton, WA.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Leased Suite A provides guaranteed income stream through Oct. 2029 with option to extend.; Suite C offers **12,376 sf of available space for lease.**; Potential for owner‑user occupancy.
