Multi-Tenant Office
For Sale
Contact for pricing
25012-25022 104th Ave SE, Kent, WA 98030
Multi-suite office property with medical and service-oriented users, on-site parking, and one vacant suite.
Property Size22,387 SF
Lot Size1.54 Acres
Price / SF$265.78
Days on Market51
Property Features for 25012-25022 104th Ave SE
General Information
Standard status
Active
Size
22,387 SF
Lot size
1.54 Acres
Property subtype
RETAIL
Occupancy
96%
Financials
Asking Price
$5,950,000
Cap Rate
7.34%
Building Details
Tenancy
Multi
Listing Agency:
NAI Puget Sound Properties
(425) 586-5600
Listed By:
Kyle Sterling · License #126435
(425) 586-5608
Source:
Moodyscre
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 5 at 8:03PM
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 22,387-square-foot office property is configured as a multi-tenant business park on 1.54 acres. The tenant mix includes medical, dental, physical therapy, wellness, and other service-based users. Current occupancy is 95.7%, with one vacant suite providing available space within the existing configuration. The property also carries a 7.34% current cap rate.
Located at 25012-25022 104th Ave SE in Kent’s East Hill area, the site offers prominent visibility, signage, and on-site parking. The office setting is suited to a range of professional and healthcare-related users, with diversified occupancy across the property.
Located at 25012-25022 104th Ave SE in Kent’s East Hill area, the site offers prominent visibility, signage, and on-site parking. The office setting is suited to a range of professional and healthcare-related users, with diversified occupancy across the property.
Key Highlights
- 22,387 SF multi‑tenant office property on a 1.54 AC lot
- 95.7% occupied with diversified in‑place tenancy
- Tenant mix includes medical, dental, physical therapy, wellness, and service‑based users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$439,253
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,785,060
$8.8M
Cap Rate 7%
$6,275,043
$6.3M
Cap Rate 9%
$4,880,589
$4.9M
Market Conditions
NOI Build-Up for 22,387 SF
Gross rent
$693.1K $30.96/SF
− Vacancy
−$107.4K −$4.80/SF
EGI
$585.7K $26.16/SF
− OpEx
−$146.4K −$6.54/SF
NOI
$439.3K $19.62/SF
Area
Kent, WA
Vacancy
15.50%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,785,060
Cap Rate 7%
$6,275,043
Cap Rate 9%
$4,880,589
Alternative Uses
Best Use
Office B
$6.28M
$5.49M – $7.32M
NOI $439,253 @ 7.0% cap · market cap 7.38%
Second Best
Healthcare Medical
$4.62M
$4.04M – $5.39M
NOI $323,541 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$8.39M
$7.34M – $9.79M
NOI $587,264 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
95.7%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 98030, WA
38,933
Population
13,519
Households
2.9
Avg Household Size
35
Median Age
28%
College-Educated
86%
High-School Grad
7.2 sq mi
ZIP Area
5,407
Density / Sq Mi
$91,218
Median Household Income
$46,681
Median Earnings
$1,797
Median Rent
$540,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Multi-suite office property with medical and service-oriented users, on-site parking, and one vacant suite.
Where is this office building located?
The property is located at 25012-25022 104th Ave SE Kent, WA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 22,387 SF multi‑tenant office property on a 1.54 AC lot; 95.7% occupied with diversified in‑place tenancy; Tenant mix includes medical, dental, physical therapy, wellness, and service‑based users
