Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2823 Sunset Blvd Renton, WA 98056

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15,804 /Mo ($12 SF/Yr)

    15,804 NRSF retail space in Renton Highlands for lease.

    Property size:
    15,804 SF
    Lot size:
    15,804 SF

    Property Features for 2823 Sunset Blvd

    General Information

    Standard status
    Active
    Size
    15,804 SF

    Building Details

    Year built
    1971

    We can help!

    Listing Contact
    Billy Poll, Ccim
    Source: Corcoran

    Listing Agency: NAI PUGET SOUND PROPERTIES Listing Agent: Billy Poll, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renton Highlands Retail Space Available

    This 15,804 NRSF retail space is located in the Renton Highlands, across the street from 600 new apartments. The property benefits from its location within a grocery-anchored center and ample parking. It offers convenient access to I-405, downtown Renton, and Bellevue. The lease rate is $12.00 per square foot, with NNN expenses of $2.47 per square foot. The space is currently available.
    Location Intelligence

    Current Use by Public Records

    Retail space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Renton
    County
    King
    State
    Washington
    Longitude
    -122.1781152
    Latitude
    47.5008919

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Triton Towers Three

      All-inclusive access to workspace, virtual office and meeting rooms in 505 Montgomery
      707 Grady Way, Renton, WA 98057
      View Details
    • Contact for pricing

      Renton Office Space For Lease

      Office space with freeway access, conference centers, and parking.
      707 S Grady Way, Renton, WA 98057
      View Details
    • Contact for pricing

      Renton Office Space For Lease

      Office space with freeway access, conference centers, and parking.
      700 S Renton Village Pl, Renton, WA 98057
      View Details
    • Contact for pricing

      Renton Office Space For Lease

      Office space with freeway access, conference centers, and parking.
      555 S Renton Village Pl, Renton, WA 98057
      View Details
    • Contact for pricing
      118,409 SF

      Renton Office Building For Lease

      Office building with 118,409 square feet available for lease.
      1300 Southwest 27Th St, Renton, WA 98057
      View Details
    • $6,485 /Mo
      2,432 SF

      Retail Space in Busy Center

      Corner location with high traffic, excellent tenant mix, ample parking.
      330 43Rd St, Renton, WA 98057
      View Details
    • $1,077 /Mo
      562 SF

      Office Suites Available For Rent

      Office suites available for lease with parking and signage.
      607 Grady Way, Renton, WA 98057
      View Details
    • $2,354 /Mo
      1,228 SF

      Renton Office Space Available

      Office suites available for lease in Renton, Washington.
      607 Grady Way, Renton, WA 98057
      View Details
    • Contact for pricing

      Renton Flex Space Available Now

      9,815 SF flex space in premier Renton business park.
      830 SW 34Th St, Renton, WA 98057
      View Details
    • Contact for pricing

      Kent Valley Freestanding Facility

      Cross-loaded facility in northern Kent Valley, available January 2026.
      901 SW 39Th St, Renton, WA 98057
      View Details
    • $23 SF/Yr

      Renton Office Space Available

      Office suites available for lease in Renton West Building.
      607 SW Grady Way, Renton, WA 98057
      View Details
    • $12 SF/Yr

      Renton Highlands Retail Space Available

      Former Joann store in Renton Highlands, adjacent to new apartments.
      2823 NE Sunset Blvd, Renton, WA 98056
      View Details

    FAQs

    What type of property is this?
    Retail space - 15,804 NRSF retail space in Renton Highlands for lease.
    Where is this retail space located?
    The property is located at 2823 Sunset Blvd Renton, WA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Excellent location in Renton Highlands; - Across the street from **600 brand new apartments**; - Easy access to I-405, downtown Renton, and Bellevue
    (206) 853-8556
    Request Owner's contact information
    2823 Sunset Blvd Renton, WA 98056
    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.
    2823 Sunset Blvd
    Renton, WA 98056
    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
    2823 Sunset Blvd Renton, WA 98056
    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

    We can help!
    Listing Contact
    Billy Poll, Ccim
    (206) 853-8556
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!