Warehouse Building with High-Voltage
For Sale
Contact for pricing
7036-7048 S 190th St, Kent, WA 98032
Warehouse offering 277/480 volt power (900 amps) and a small side yard on site.
Property Size65,858 SF
Price / SF$245.98
Days on Market626
Property Features for 7036-7048 S 190th St
General Information
Standard status
Active
Size
65,858 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Power
900 amps
Voltage
480 V
Listing Agency:
NAI Puget Sound Properties
(425) 246-9280
Listed By:
Arie Salomon, SIOR, CCIM
(425) 246-9280
Source:
Moodyscre
Added: Nov 18, 2024
Changed: Jul 30
Last Checked: Aug 6 at 11:42AM
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 NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
Warehouse property at 7036-7048 S 190th St, Kent, WA 98032, featuring 44,602 SF of space and 900 amps of 277/480 volt power. The site also includes a small side yard, supporting day-to-day operating flexibility.
The property is offered for sale and is set up for users who value substantial electrical capacity for warehouse operations. Its combination of building size and high-voltage service is a practical fit for a range of light industrial, storage, and distribution needs where power is a key requirement.
The property is offered for sale and is set up for users who value substantial electrical capacity for warehouse operations. Its combination of building size and high-voltage service is a practical fit for a range of light industrial, storage, and distribution needs where power is a key requirement.
Key Highlights
- 44,602 SF warehouse space
- 900 amps of 277/480 volt power
- Small side yard
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
$762,425
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
4.71%
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%
$15,248,500
$15.2M
Cap Rate 7%
$10,891,786
$10.9M
Cap Rate 9%
$8,471,389
$8.5M
Market Conditions
NOI Build-Up for 65,858 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
$956.3K $14.52/SF
− Vacancy
−$59.3K −$0.90/SF
EGI
$897.0K $13.62/SF
− OpEx
−$134.5K −$2.04/SF
NOI
$762.4K $11.58/SF
Area
Kent, WA
Vacancy
6.20%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
15.00%
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%
$15,248,500
Cap Rate 7%
$10,891,786
Cap Rate 9%
$8,471,389
Alternative Uses
Best Use
Warehouse
$10.89M
$9.53M – $12.71M
NOI $762,425 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.68M
$21.60M – $28.79M
NOI $1,727,612 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98032, WA
38,744
Population
15,639
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
84%
High-School Grad
17.0 sq mi
ZIP Area
2,279
Density / Sq Mi
$77,413
Median Household Income
$46,105
Median Earnings
$1,782
Median Rent
$473,000
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse offering 277/480 volt power (900 amps) and a small side yard on site.
Where is this warehouse located?
The property is located at 7036-7048 S 190th St Kent, WA.
What is the asking price?
The asking price for this property is $16,200,000.
What are key features of this property?
This property features: 44,602 SF warehouse space; 900 amps of 277/480 volt power; Small side yard
