Listing Agency: John L. Scott, Inc. n***@johnlscott.com

Listed By: Pam McCain Show Phone

Source: Exprealty

Added: May 15 Changed: Aug 20 Last Checked: Sep 12 at 2:00PM

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Investment Insights

Based on property information with market context.

The property is an automotive body shop with a dedicated paint booth and shop support features. The existing Viking paint booth measures approximately 23 feet long by 14 feet wide with an 8-foot height. The shop space has tall ceilings and includes a furnace and air lines, along with two bay doors: one sliding and one roll-up. A small office with a half bath supports day-to-day operations. The building measures approximately 60 feet by 30 feet and is connected to city water and sewer.

The site is positioned on the main corridor through town with approximately 105 feet of frontage on SR 169. Ample off-street parking is available, providing flexibility for customers and equipment.

For owner-users, the improvements support ongoing automotive body work with a purpose-built paint booth and bay-door access for vehicles. For investors or future operators, the property’s community commercial zoning and highway frontage may support a range of business concepts, subject to applicable approvals.

Key Highlights

• Community Commercial‑zoned property with approximately 105 ft of SR 169 frontage in Black Diamond
• Existing auto body shop building approximately 60 ft x 30 ft on city water and sewer
• Viking paint booth measuring 23' L x 14' W x 8' H plus tall ceilings

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

$32,200

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

4.88%

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%

$644,000 $644.0K

Cap Rate 7%

$460,000 $460.0K

Cap Rate 9%

$357,778 $357.8K

Market Conditions

NOI Build-Up for 1,800 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

$47.5K $26.40/SF

− Vacancy

−$1.5K −$0.84/SF

EGI

$46.0K $25.56/SF

− OpEx

−$13.8K −$7.67/SF

NOI

$32.2K $17.89/SF

Area

King County, WA

Vacancy

3.20%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

30.00%

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%

$644,000

Cap Rate 7%

$460,000

Cap Rate 9%

$357,778

Alternative Uses

Best Use

Retail

$460.0K

$402.5K – $536.7K (±1% cap)

NOI $32,200 @ 7.0% cap · market cap 4.88%

Second Best

Industrial

$258.6K

$226.3K – $301.7K (±1% cap)

NOI $18,103 @ 7.0% cap · market cap 2.74%

Theoretical Best

Office A

$720.9K

$630.8K – $841.1K (±1% cap)

NOI $50,466 @ 7.0% cap · market cap 7.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Auto Parts Store HVAC Service Electrical Service Storage Facility Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

2

Service bays

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

128

Businesses Nearby

9k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 85% Dining 8% Beauty & Spa 7%

76 Shops & Services

7,525 visits/mo 0.4 miles

Krispy Krunchy Chicken Dining

673 visits/mo 0.4 miles

Sharkey's Cuts for Kids Beauty & Spa

658 visits/mo 0.3 miles

Demographics for 98010, WA

5,699

Population

2,540

Households

2.2

Avg Household Size

41

Median Age

56%

College-Educated

98%

High-School Grad

14.9 sq mi

ZIP Area

382

Density / Sq Mi

$148,692

Median Household Income

$78,787

Median Earnings

$2,304

Median Rent

$793,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - Auto body shop on a main corridor with SR 169 frontage, including a Viking paint booth and two bay doors.

Where is this auto shop located?

The property is located at 30836 3rd Ave Black Diamond, WA.

What is the asking price?

The asking price for this property is $660,000.

What are key features of this property?

This property features: Community Commercial‑zoned property with approximately 105 ft of SR 169 frontage in Black Diamond; Existing auto body shop building approximately 60 ft x 30 ft on city water and sewer; Viking paint booth measuring 23' L x 14' W x 8' H plus tall ceilings