Kent Mixed-Use Commercial
408 Central Ave N Kent, WA 98032
408 Central Ave N, Kent, WA, 98032
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For Sale
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24,246 Sq Ft lot with 2,438 Sq Ft building.
Property Size24,240 SF
Lot Size0.56 Acres
Price / SF$226.90
Days on Market1166
Property Features for 408 Central Ave N
General Information
- Standard status
- Active
- Size
- 24,240 SF
- Lot size
- 0.56 Acres
- Property subtype
- Mixed Use
Listing Agency
KW Commercial Keller Williams Puget Sound - Federal Way
(253) 835-4500
Listed by
Austin Scarsella · License #WA 115168
Source
Crexi
Added: May 9, 2023 Checked: Jul 16 at 5:55 am
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 KW Commercial Keller Williams Puget Sound - Federal Way
Investment Insights
Based on property information with market context.
This property features a 24,246 sq ft lot with a 2,438 sq ft building located in downtown Kent. The building is equipped with single-phase 110 and 220 V power and includes three bay doors ranging from 9 ft to 11 ft 7 in. Situated in a well-established commercial district, the property offers significant potential. The zoning allows for a wide variety of GCMU commercial, industrial, and retail uses.
Key Highlights
- Large 24,246 sq ft lot in Downtown Kent
- Versatile GCMU zoning allows for commercial, industrial, and retail uses
- 2,438 sq ft building included
Local Financial Insights For Mixed Use
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 | $654.5k | $27.00 |
| − Vacancy | −$52.4k | −$2.16 |
| EGI | $602.1k | $24.84 |
| − OpEx | −$225.8k | −$9.32 |
| NOI | $376.3k | $15.53 |
24,240 SF · lease $27.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$5.38M
$4.70M – $6.27M
NOI $376,326 @ 7.0% cap · market cap 6.84%
Second Best
Retail
$5.08M
$4.45M – $5.93M
NOI $355,850 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$9.08M
$7.95M – $10.60M
NOI $635,873 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Mixed-use property - 24,246 Sq Ft lot with 2,438 Sq Ft building.
Where is this mixed-use property located?
The property is located at 408 Central Ave N Kent, WA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Large 24,246 sq ft lot in Downtown Kent; Versatile GCMU zoning allows for commercial, industrial, and retail uses; 2,438 sq ft building included
