Manufacturing Building With Additional Site
For Sale
Contact for pricing
38629 Auburn Enumclaw Rd SE, Auburn, WA 98092
Manufacturing property with office space, additional land, and an RV pad.
Property Size9,718 SF
Price / SF$123.48
Days on Market96
Property Features for 38629 Auburn Enumclaw Rd SE
General Information
Standard status
Active
Size
9,718 SF
Property subtype
INDUSTRIAL
Listing Agency:
NWC - KV LLC
(253) 988-2649
Listed By:
Theron Meier
(253) 988-2649
Source:
Moodyscre
Added: May 28
Changed: Aug 30
Last Checked: Aug 30 at 4:39PM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
The property includes 9,718 SF of available space, with 1,164 SF allocated to office area. Improvements date to 1950 and include manufacturing facilities along with an RV pad on the additional site area.
The combined property encompasses approximately 3.28 acres across two parcels. Parcel A contains approximately 2.03 acres, while Parcel B contributes approximately 1.26 acres of land. The property is zoned MIT and includes additional site area for industrial operations or related improvements.
The combined property encompasses approximately 3.28 acres across two parcels. Parcel A contains approximately 2.03 acres, while Parcel B contributes approximately 1.26 acres of land. The property is zoned MIT and includes additional site area for industrial operations or related improvements.
Key Highlights
- 9,718 SF of available space
- 1,164 SF office area
- Combined site totals ±3.28 Acres
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
$97,737
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
8.14%
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%
$1,954,740
$2.0M
Cap Rate 7%
$1,396,243
$1.4M
Cap Rate 9%
$1,085,967
$1.1M
Market Conditions
NOI Build-Up for 9,718 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
$151.6K $15.60/SF
− Vacancy
−$12.0K −$1.23/SF
EGI
$139.6K $14.37/SF
− OpEx
−$41.9K −$4.31/SF
NOI
$97.7K $10.06/SF
Area
King County, WA
Vacancy
7.90%
Lease Rate
$15.60 /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%
$1,954,740
Cap Rate 7%
$1,396,243
Cap Rate 9%
$1,085,967
Alternative Uses
Best Use
Industrial
$1.40M
$1.22M – $1.63M
NOI $97,737 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.89M
$3.41M – $4.54M
NOI $272,462 @ 7.0% cap · market cap 22.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 98092, WA
50,258
Population
17,532
Households
2.9
Avg Household Size
36
Median Age
35%
College-Educated
92%
High-School Grad
42.9 sq mi
ZIP Area
1,172
Density / Sq Mi
$116,614
Median Household Income
$57,853
Median Earnings
$1,870
Median Rent
$594,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing property with office space, additional land, and an RV pad.
Where is this manufacturing property located?
The property is located at 38629 Auburn Enumclaw Rd SE Auburn, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9,718 SF of available space; 1,164 SF office area; Combined site totals ±3.28 Acres
