Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space with Customization Options Title is generated by Realmo AI

    300 Pelly Ave N, Renton, WA 98057

    View on Map
    Claim this Listing
    For Lease
    $2,015/Mo $19 SF/Yr (calc)

    Renton office space available for rent with customizable interior.

    Type:Commercial
    Property size:
    1,240 SF
    Added:
    Mar 6, 2023
    Days on Market:
    1187
    Last Refresh:
    Apr 5 at 11:26 pm

    Property Features for 300 Pelly Ave N

    General Information

    Standard status
    Active
    Size
    1,240 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1974

    We can help!

    Listing Contact
    BRUCE GOLDSTEIN

    Listing agent BRUCE GOLDSTEIN

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Mar 6, 2023

    Source Corcoran

    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

    HighLights

    • Customizable Interior: Unfinished space allows tenant to choose colors and floor covering.
    • Ample Parking: Convenient parking available under the building.
    • Secure Building: Features a security system for enhanced safety.
    • Elevator Access: Provides easy access to the suite.
    • Suite Size: 1,240 SF of space plus common area lobby.
    • Affordable Lease Rate: $19.50/SF/YR + $1,536/MO NNN (2024 estimate).

    Overview

    Suite C offers 1,240 square feet of office space, in addition to a shared common area lobby. The building features an elevator, a security system, and ample parking located beneath the structure. The interior is currently unfinished, allowing tenants to select colors and floor coverings to suit their needs. The property is available for lease at $19.50 per square foot per year, plus $1,536 per month NNN (estimated for 2024). The Tax ID number is 7224000550.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Building Supply Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Renton
    County
    King
    State
    Washington
    Longitude
    -122.2030391
    Latitude
    47.4868357

    Nearby Similar for Lease

    • Sponsored
      $129-$6,978/Mo
      11-1,292 SF

      Triton Towers Three

      707 Grady Way, Unit 600, Renton, WA 98057
      View Details
    • $23 SF/Yr
      1,228 SF

      Renton Office Space Available

      Office suites available for lease in Renton West Building.
      607 SW Grady Way, Renton, WA 98057
      View Details
    • $1,148/Mo
      599 SF

      Renton Office Suites For Rent

      Office suites available for lease in Renton, Washington.
      607 Grady Way, Renton, WA 98057
      View Details
    • $23 SF/Yr
      1,228 SF

      Renton Office Space Available

      Office suites available for lease in Renton West Building.
      607 SW Grady Way, Renton, WA 98057
      View Details
    • $19 SF/Yr
      1,240 SF

      Renton Office Space Available

      Office space for lease in Renton with ample parking.
      300 Pelly Avenue N, Renton, WA 98057
      View Details
    • $22 SF/Yr
      5,555 SF

      Renton Flex Space For Lease

      Industrial/Retail flex space with highway access and fenced yard.
      414 Monroe Ave NE, Renton, WA 98056
      View Details
    • $3,549/Mo
      1,638 SF

      Renton Dental Office Suite Available

      Built-out dental office suite near Valley Medical Center.
      10700 174th St, Renton, WA 98055
      View Details
    • $12,933/Mo
      4,084 SF

      Waterfront Retail Space in Renton

      Retail and restaurant space in luxury waterfront community.
      1083 Lake Washington Blvd N, Renton, WA 98056
      View Details
    • $1.20 SF/Yr
      20,000 SF

      High Bay Warehouse Sublease Opportunity

      High bay warehouse space available for sublease in Kent Valley.
      4051 Oakesdale Ave SW, Suite B, Renton, WA 98057
      View Details
    • $1.67 SF/Yr
      29,271 SF

      Renton Office Space For Lease

      Office space for lease in Renton with ample parking.
      429 SW 41st St, Renton, WA 98057
      View Details
    • $7,399/Mo
      5,549 SF

      Renton Office Space for Rent

      Furnished office space with abundant parking and easy freeway access.
      1217 7th St, Renton, WA 98057
      View Details
    • $3,500/Mo
      2,200 SF

      Downtown Renton Warehouse Style Space

      Unique 2,200 sq ft warehouse space in downtown Renton.
      205 Logan Ave S, Renton, WA 98057
      View Details

    FAQs

    What type of property is this?
    Office units - Renton office space available for rent with customizable interior.
    Where is this office units located?
    The property is located at 300 Pelly Ave N Renton, WA.
    What is the lease rate?
    The lease rate is $2,015 /Mo.
    What are key features of this property?
    This property features: Customizable Interior: Unfinished space allows tenant to choose colors and floor covering.; Ample Parking: Convenient parking available under the building.; Secure Building: Features a security system for enhanced safety.
    (425) 586-5600
    We can help!
    Listing Contact
    BRUCE GOLDSTEIN
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    300 Pelly Ave N, Renton, WA 98057
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!