Built-Out Office Suite with
For Sale
Contact for pricing
321 Burnett Ave S, Renton, WA 98057
Suite 200 offers 6 private offices, conference room, reception, break room, storage, and two restrooms.
Property Size3,881 SF
Price / SF$256.38
Days on Market127
Property Features for 321 Burnett Ave S
General Information
Standard status
Active
Size
3,881 SF
Property subtype
OFFICE
Amenities
conference room
reception area
break room
storage space
restrooms
secure access
elevator
roof
HVAC
common areas
Listing Agency:
Rob Gasca Real Estate Group
(425) 273-3386
Listed By:
Alex Ardiente
(425) 273-3386
Source:
Moodyscre
Added: Apr 8
Changed: Aug 11
Last Checked: Aug 12 at 8:33AM
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 Rob Gasca Real Estate Group
Investment Insights
Based on property information with market context.
Suite 200 is a fully built-out office space designed for multiple work areas. The layout includes six private office suites, a conference room, reception area, break room, two restrooms, and ample storage space. Secure access is provided through a staircase, and there is direct access through an elevator.
Common area services are managed by the HOA, including roof, HVAC, common areas, security access, and elevator management.
This suite’s configuration supports day-to-day office use with separate private offices alongside shared reception, conference, and break functions.
Common area services are managed by the HOA, including roof, HVAC, common areas, security access, and elevator management.
This suite’s configuration supports day-to-day office use with separate private offices alongside shared reception, conference, and break functions.
Key Highlights
- Suite 200 with 3,881 SF of fully built‑out office space
- Includes 6 private office suites plus a conference room and reception area
- Break room, ample storage space, and two restrooms
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
$68,679
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
6.90%
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%
$1,373,580
$1.4M
Cap Rate 7%
$981,129
$981.1K
Cap Rate 9%
$763,100
$763.1K
Market Conditions
NOI Build-Up for 3,881 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
$128.1K $33.00/SF
− Vacancy
−$36.5K −$9.41/SF
EGI
$91.6K $23.60/SF
− OpEx
−$22.9K −$5.90/SF
NOI
$68.7K $17.70/SF
Area
Renton, WA
Vacancy
28.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,373,580
Cap Rate 7%
$981,129
Cap Rate 9%
$763,100
Alternative Uses
Best Use
Office B
$981.1K
$858.5K – $1.14M
NOI $68,679 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,515 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Suite 200 offers 6 private offices, conference room, reception, break room, storage, and two restrooms.
Where is this office units located?
The property is located at 321 Burnett Ave S Renton, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Suite 200 with 3,881 SF of fully built‑out office space; Includes 6 private office suites plus a conference room and reception area; Break room, ample storage space, and two restrooms
