Temperature-Controlled
For Sale
Contact for pricing
720 SW 34th St, Renton, WA 98057
Stand-alone, temperature-controlled warehouse with attached office space and mezzanine, plus ground-level and dock-high loading.
Property Size29,628 SF
Price / SF$347.64
Days on Market103
Property Features for 720 SW 34th St
General Information
Standard status
Active
Size
29,628 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
4,893 SF
Mezzanine
2,446 SF
Dock-High Doors
5
Drive-In Doors
1
Additional Details
Asking Price
$10,300,000
Building Details
Buildings
1
Building Size
29,628 SF
Listing Agency:
NAI Puget Sound Properties
(425) 586-5610
Listed By:
Jeff Forsberg, CCIM
(425) 586-5610
Source:
Moodyscre
Added: May 11
Changed: Jul 30
Last Checked: Jul 30 at 11:27AM
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.
This stand-alone, temperature-controlled warehouse totals 29,628 SF and includes 4,893 SF of office space. The office area features a 2,446 SF mezzanine, supporting flexibility for administrative space alongside warehouse operations. The facility is set up for logistics with 5 dock-high doors and 1 ground-level door, and offers 24' clear height for efficient storage and handling. Retail showroom potential is also noted for the building.
The property is located at 720 SW 34th St in Renton, WA 98057, within a high-image business park setting.
Availability is stated as requiring 150 days notice. The offering also references that 4 additional dock-high doors can be added by knocking out panels already in place.
The property is located at 720 SW 34th St in Renton, WA 98057, within a high-image business park setting.
Availability is stated as requiring 150 days notice. The offering also references that 4 additional dock-high doors can be added by knocking out panels already in place.
Key Highlights
- 29,628 SF temperature‑controlled warehouse with 4,893 SF office space
- 4,893 SF office includes 2,446 SF mezzanine
- 24' clear height for storage and material handling
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
$524,304
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
5.09%
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%
$10,486,080
$10.5M
Cap Rate 7%
$7,490,057
$7.5M
Cap Rate 9%
$5,825,600
$5.8M
Market Conditions
NOI Build-Up for 29,628 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
$977.7K $33.00/SF
− Vacancy
−$278.7K −$9.41/SF
EGI
$699.1K $23.60/SF
− OpEx
−$174.8K −$5.90/SF
NOI
$524.3K $17.70/SF
Area
Renton, WA
Vacancy
28.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$10,486,080
Cap Rate 7%
$7,490,057
Cap Rate 9%
$5,825,600
Alternative Uses
Best Use
Office B
$7.49M
$6.55M – $8.74M
NOI $524,304 @ 7.0% cap · market cap 5.09%
Second Best
Warehouse
$4.43M
$3.88M – $5.17M
NOI $310,377 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$9.65M
$8.45M – $11.26M
NOI $675,732 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24 ft
Clear height
5
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Stand-alone, temperature-controlled warehouse with attached office space and mezzanine, plus ground-level and dock-high loading.
Where is this warehouse located?
The property is located at 720 SW 34th St Renton, WA.
What is the asking price?
The asking price for this property is $10,300,000.
What are key features of this property?
This property features: 29,628 SF temperature‑controlled warehouse with 4,893 SF office space; 4,893 SF office includes 2,446 SF mezzanine; 24' clear height for storage and material handling
