Kent Industrial Building For
For Sale
$16,200,000
7036 - 7048 S 190th Street, Kent, WA 98032
65,858 SF industrial building with freeway access in Kent.
Property Size65,858 SF
Price / SF$245.98
Days on Market273
Property Features for 7036 - 7048 S 190th Street
General Information
Standard status
Active
Size
65,858 SF
Property subtype
Industrial
Building Details
Building Size
65,858 SF
Listing Agency:
(425) 246-9280
Listed By:
Arie Salomon, SIOR, CCIM
(425) 246-9280
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 9
Last Checked: Aug 21 at 4:21AM
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 Arie Salomon, SIOR, CCIM
Investment Insights
Based on property information with market context.
This 65,858 square foot industrial building is located in Kent, Washington. The property includes 44,602 square feet of warehouse space with 4,760 square feet of office space and a 2,090 square foot mezzanine office. The warehouse has a 24-foot clearance height and seven dock-high doors. A secured yard is located on the side of the building. Racking in the warehouse is available. Situated on a corner lot, the free-standing building offers convenient freeway access. A portion of the building, comprising 21,256 square feet, is currently under a long-term lease.
Key Highlights
- 65,858 SF Industrial Building with 4,760 SF Office
- Great freeway access
- Secured 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
Industrial
$8.97M
$7.85M – $10.46M
NOI $627,879 @ 7.0% cap · market cap 3.88%
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
Property Profile
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.
Similar Off Market Nearby
- Prologis — 80th Ave S, Kent, WA 98032
- Lineage — 7269 S 188th St, Kent, WA 98032
- Lineage — 7911 S 188th St, Kent, WA 98032
- Big House Inc — 19411 66th Ave S, Kent, WA 98032
- Seattle Pallet Racking — 19305 72nd Ave S, Kent, WA 98032
Frequently Asked Questions
What type of property is this?
Warehouse - 65,858 SF industrial building with freeway access in Kent.
Where is this warehouse located?
The property is located at 7036 - 7048 S 190th Street 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: 65,858 SF Industrial Building with 4,760 SF Office; Great freeway access; Secured yard
