Office Building with Lower-Level
337 Park Avenue N Renton, WA 98057
337 Park Avenue N, Renton, WA, 98057
$630,000
For Sale
$630,000
Configured as office with three-plus private offices, 1.75 baths, and a lower level with two rooms.
Property Size2,321 SF
Price / SF$271.43
Days on Market81
Property Features for 337 Park Avenue N
General Information
- Standard status
- Active
- Size
- 2,321 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
SARBORA, INC - DESIGNED REAL ESTATE
Listed by
JOSE CHAPA
Source
Corcoran
Added: May 3 Updated: Jul 21 at 5:48AM Checked: Jul 21 at 5:48AM
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 SARBORA, INC - DESIGNED REAL ESTATE
Investment Insights
Based on property information with market context.
This mixed-use property is currently configured as an office, with three-plus private offices and 1.75 bathrooms. It also includes a lower level with two additional rooms that may support extra leasable space or owner-user flexibility. The interior has been updated, and significant exterior improvements include new Hardie Plank siding and exterior paint, along with newer gutters.
The property is located in a high-visibility corridor. Public remarks note flexible zoning that allows a wide range of uses, including retail, professional services, law office, accounting firm, real estate brokerage, insurance agency, immigration services, and restaurant. There is also potential for mixed-use with higher-density; buyers/brokers are advised to verify potential allowances.
Overall, the building provides an office base with additional room space below, alongside documented exterior and interior upgrades.
The property is located in a high-visibility corridor. Public remarks note flexible zoning that allows a wide range of uses, including retail, professional services, law office, accounting firm, real estate brokerage, insurance agency, immigration services, and restaurant. There is also potential for mixed-use with higher-density; buyers/brokers are advised to verify potential allowances.
Overall, the building provides an office base with additional room space below, alongside documented exterior and interior upgrades.
Key Highlights
- Built in 1920 and currently configured as an office with three‑plus private offices
- 1.75 bathrooms plus a lower level with two additional rooms for leasable space or owner‑user use
- Extensive capital improvements include new Hardie Plank siding and exterior paint, plus newer gutters and updated interior
Local Financial Insights For Office B
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 | $76.6k | $33.00 |
| − Vacancy | −$21.8k | −$9.41 |
| EGI | $54.8k | $23.60 |
| − OpEx | −$13.7k | −$5.90 |
| NOI | $41.1k | $17.70 |
2,321 SF · lease $33.00/SF/yr · vacancy 28.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$586.8K
$513.4K – $684.6K
NOI $41,073 @ 7.0% cap · market cap 6.52%
Second Best
Retail
$552.7K
$483.6K – $644.9K
NOI $38,691 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$756.2K
$661.7K – $882.3K
NOI $52,936 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - Configured as office with three-plus private offices, 1.75 baths, and a lower level with two rooms.
Where is this office building located?
The property is located at 337 Park Avenue N Renton, WA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Built in 1920 and currently configured as an office with three‑plus private offices; 1.75 bathrooms plus a lower level with two additional rooms for leasable space or owner‑user use; Extensive capital improvements include new Hardie Plank siding and exterior paint, plus newer gutters and updated interior
