Kingston Commercial Property with
25960 Central Avenue NE Kingston, WA 98346
25960 Central Avenue NE, Kingston, WA, 98346
$1,250,000
For Sale
$1,250,000
Two buildings with four tenant-occupied spaces in Kingston, Washington.
Property Size2,594 SF
Lot Size0.32 Acres
Price / SF$481.88
Days on Market853
Property Features for 25960 Central Avenue NE
General Information
- Standard status
- Active
- Size
- 2,594 SF
- Lot size
- 0.32 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1988
Listing agency
DRIFTWOOD REAL ESTATE
(360) 881-7443
Listed by
CATHERINE ARLEN
Source
Corcoran
Added: Mar 21, 2024 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 6:08AM
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 DRIFTWOOD REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial property in Kingston, Washington, consists of two buildings with individual addresses and tax parcels. The property, known as Cleo’s Landing, is currently occupied by four tenants, including a real estate office, restaurant, florist, and hair salon, providing an immediate return on investment. The property offers the potential to reconfigure spaces to increase density. One of the buildings, located at 25960 Central Avenue NE (Tax ID#43160080010607), is situated on a 0.22-acre parcel and features a 2,082 sq ft building constructed in 1988, housing three tenants. The second building, located at 11201 NE State Hwy 104 (Tax ID#43160080010003), is on a 0.10-acre parcel and contains a 512 sq ft building constructed in 1934, occupied by one tenant. The property includes 10 dedicated parking spaces and is zoned UVC. Combining this property with other nearby available properties could increase the footprint or diversify uses.
Key Highlights
- Prime Kingston location with established businesses at Cleo’s Landing
- Instant Return on Investment (ROI) with tenant‑occupied spaces
- Two buildings on separate tax parcels, offering flexibility
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.0k | $32.76 |
| − Vacancy | −$4.2k | −$1.64 |
| EGI | $80.7k | $31.12 |
| − OpEx | −$20.2k | −$7.78 |
| NOI | $60.5k | $23.34 |
2,594 SF · lease $32.76/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$865.0K
$756.9K – $1.01M
NOI $60,548 @ 7.0% cap · market cap 4.84%
Second Best
Office B
$528.3K
$462.3K – $616.3K
NOI $36,980 @ 7.0% cap · market cap 2.96%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Off Market Nearby
- The Flower Box — 25960 Central Ave NE, Kingston, WA 98346
FAQs
What type of property is this?
Storefront property - Two buildings with four tenant-occupied spaces in Kingston, Washington.
Where is this storefront property located?
The property is located at 25960 Central Avenue NE Kingston, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime Kingston location with established businesses at Cleo’s Landing; Instant Return on Investment (ROI) with tenant‑occupied spaces; Two buildings on separate tax parcels, offering flexibility
