Standalone Industrial
New
For Sale
Contact for pricing
8655 S 208th St, Kent, WA 98032
M1-zoned industrial property with heavy 3-phase power, renovated offices, and a lunchroom.
Property Size38,130 SF
Lot Size1.50 Acres
Price / SF$229.48
Days on Market5
Property Features for 8655 S 208th St
General Information
Standard status
Active
Size
38,130 SF
Lot size
1.50 Acres
Property subtype
INDUSTRIAL
Zoning
M1
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
7,380 SF
Dock-High Doors
2
Drive-In Doors
1
Three-Phase Power
Yes
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Asking Price
$8,750,000
Highway Access
Yes
Amenities
New LED lighting
Building Details
Buildings
1
Building Size
38,130 SF
Tenancy
Single
Listing Agency:
NWC - KV LLC
(253) 229-7191
Listed By:
Cameron Valentine
(253) 229-7191
Source:
Moodyscre
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 5:26AM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
This standalone industrial property at 8655 S 208th St in Kent, WA, provides 38,130 SF of building area, including 7,380 SF of office space. The warehouse features a 20-foot clear height, one 10’x12’ GL door, two DH doors, heavy 3-phase power, new LED lighting, and a full sprinkler system. Office and lunchroom areas have been fully renovated.
The property occupies 65,265 SF of land within Kent’s industrial district, with access to major highways. M1 zoning supports its light-industrial classification and complements the building’s warehouse and office configuration.
The property occupies 65,265 SF of land within Kent’s industrial district, with access to major highways. M1 zoning supports its light-industrial classification and complements the building’s warehouse and office configuration.
Key Highlights
- 38,130 SF industrial building with 7,380 SF of office space
- 65,265 SF land area in Kent’s industrial district
- 20‑foot clear height with one 10’x12’ GL door and two DH doors
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
$748,145
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
8.55%
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%
$14,962,900
$15.0M
Cap Rate 7%
$10,687,786
$10.7M
Cap Rate 9%
$8,312,722
$8.3M
Market Conditions
NOI Build-Up for 38,130 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
$1.18M $30.96/SF
− Vacancy
−$183.0K −$4.80/SF
EGI
$997.5K $26.16/SF
− OpEx
−$249.4K −$6.54/SF
NOI
$748.1K $19.62/SF
Area
Kent, WA
Vacancy
15.50%
Lease Rate
$30.96 /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%
$14,962,900
Cap Rate 7%
$10,687,786
Cap Rate 9%
$8,312,722
Alternative Uses
Best Use
Office B
$10.69M
$9.35M – $12.47M
NOI $748,145 @ 7.0% cap · market cap 8.55%
Second Best
Flex RnD
$7.23M
$6.33M – $8.44M
NOI $506,169 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$14.29M
$12.50M – $16.67M
NOI $1,000,241 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Single-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Apex Cold Storage Co — 8022 S 212th St, Kent, WA 98032
- Two Men And A Moving Van LLC | Seattle Movers — 8637 S 212th St, Kent, WA 98031
- CMS Relocation & Logistics — 21620 S 88th Pl, Kent, WA 98031
- UNITS Moving & Portable Storage — 8226 S 208th St Suite G106, Kent, WA 98032
- Scout Moving & Storage — 8633 S 208th St, Kent, WA 98031
Frequently Asked Questions
What type of property is this?
Warehouse - M1-zoned industrial property with heavy 3-phase power, renovated offices, and a lunchroom.
Where is this warehouse located?
The property is located at 8655 S 208th St Kent, WA.
What is the asking price?
The asking price for this property is $8,750,000.
What are key features of this property?
This property features: 38,130 SF industrial building with 7,380 SF of office space; 65,265 SF land area in Kent’s industrial district; 20‑foot clear height with one 10’x12’ GL door and two DH doors
