Class A Industrial
For Sale
Contact for pricing
8323 Maltby Rd, Woodinville, WA 98296
New construction Class A warehouse with dock-high and grade-level loading, heavy electrical capacity, and flexible tenant configuration.
Property Size76,364 SF
Price / SF$294.93
Days on Market315
Property Features for 8323 Maltby Rd
General Information
Standard status
Active
Size
76,364 SF
Class
A
Property subtype
INDUSTRIAL
Additional Details
Heavy Power
Yes
Building Details
Year Built
2025
Listing Agency:
Kidder Mathews
(425) 450-1159
Listed By:
James Leptich · License #10712
(425) 450-1159
Source:
Moodyscre
Added: Sep 26, 2025
Changed: Jul 26
Last Checked: Jul 26 at 11:52AM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This Class A warehouse is newly constructed with shell work completed in December 2025. The building is designed for industrial use and includes dock-high and grade-level loading. Heavy electrical capacity is available, including 2,000 amps (480/277), and the layout can accommodate one or two tenants.
The property is listed for sale and is located at 8323 Maltby Rd in Woodinville, Washington.
Overall, it offers a modern industrial shell with substantial power and loading flexibility to support a range of warehousing and distribution operations within a newer construction framework.
The property is listed for sale and is located at 8323 Maltby Rd in Woodinville, Washington.
Overall, it offers a modern industrial shell with substantial power and loading flexibility to support a range of warehousing and distribution operations within a newer construction framework.
Key Highlights
- 76,364 SF Class A warehouse with shell completed in December 2025
- Dock‑high and grade‑level loading
- Heavy electrical capacity: 2000 amps, 480/277V
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
$932,592
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
4.14%
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%
$18,651,840
$18.7M
Cap Rate 7%
$13,322,743
$13.3M
Cap Rate 9%
$10,362,133
$10.4M
Market Conditions
NOI Build-Up for 76,364 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
$1.19M $15.60/SF
− Vacancy
−$94.1K −$1.23/SF
EGI
$1.10M $14.37/SF
− OpEx
−$164.6K −$2.16/SF
NOI
$932.6K $12.21/SF
Area
King County, WA
Vacancy
7.90%
Lease Rate
$15.60 /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%
$18,651,840
Cap Rate 7%
$13,322,743
Cap Rate 9%
$10,362,133
Alternative Uses
Best Use
Warehouse
$13.32M
$11.66M – $15.54M
NOI $932,592 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$30.59M
$26.76M – $35.68M
NOI $2,141,002 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98296, WA
27,713
Population
9,573
Households
2.9
Avg Household Size
41
Median Age
48%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
803
Density / Sq Mi
$172,468
Median Household Income
$76,918
Median Earnings
$2,325
Median Rent
$867,700
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
- Sherlock Self Storage — 21601 W Bostian Rd, Woodinville, WA 98072
Frequently Asked Questions
What type of property is this?
Warehouse - New construction Class A warehouse with dock-high and grade-level loading, heavy electrical capacity, and flexible tenant configuration.
Where is this warehouse located?
The property is located at 8323 Maltby Rd Woodinville, WA.
What is the asking price?
The asking price for this property is $22,522,070.
What are key features of this property?
This property features: 76,364 SF Class A warehouse with shell completed in December 2025; Dock‑high and grade‑level loading; Heavy electrical capacity: 2000 amps, 480/277V
