Industrial Flex
For Sale
$8,900,000
950 Andover Park E, Tukwila, WA 98188
Highly visible industrial and flex building with immediate access to major transportation corridors in Tukwila.
Property Size41,286 SF
Days on Market97
Property Features for 950 Andover Park E
General Information
Standard status
Active
Size
41,286 SF
Property subtype
Industrial
Site & Location
Neighborhood
Orillia
Building Details
Building Size
41,286 SF
Year Built
1975
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
Andrew Hull · License #134116
(253) 444-3023
Source:
Lee-associates
Added: Jul 24
Changed: Oct 27
Last Checked: Oct 26 at 2:38PM
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 Lee & Associates Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
950 Andover Park E is a highly visible industrial/flex building positioned in the heart of Tukwila’s established industrial and commercial district. The property is designed to support flexible operations and provides immediate control from day one.
According to the seller, the location offers immediate access to the region’s most important transportation corridors, supporting efficient service to Seattle, Bellevue, the Eastside, Tacoma, and Sea-Tac Airport. The building benefits from being in one of the Puget Sound area’s sought-after commercial corridors.
According to the seller, the location offers immediate access to the region’s most important transportation corridors, supporting efficient service to Seattle, Bellevue, the Eastside, Tacoma, and Sea-Tac Airport. The building benefits from being in one of the Puget Sound area’s sought-after commercial corridors.
Key Highlights
- Industrial/flex building in Tukwila’s established industrial and commercial district.
- Immediate access to the region’s major transportation corridors.
- Central location for serving Seattle, Bellevue, the Eastside, Tacoma, and Sea‑Tac Airport.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$592,727
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,854,540
$11.9M
Cap Rate 7%
$8,467,529
$8.5M
Cap Rate 9%
$6,585,856
$6.6M
Market Conditions
NOI Build-Up for 41,286 SF
Gross rent
$1.14M $27.54/SF
− Vacancy
−$225.1K −$5.45/SF
EGI
$911.9K $22.09/SF
− OpEx
−$319.2K −$7.73/SF
NOI
$592.7K $14.36/SF
Area
King County, WA
Vacancy
19.80%
Lease Rate
$27.54 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,854,540
Cap Rate 7%
$8,467,529
Cap Rate 9%
$6,585,856
Alternative Uses
Best Use
Flex RnD
$8.47M
$7.41M – $9.88M
NOI $592,727 @ 7.0% cap · market cap 6.66%
Second Best
Warehouse
$7.20M
$6.30M – $8.40M
NOI $504,204 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$16.54M
$14.47M – $19.29M
NOI $1,157,527 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98188, WA
27,851
Population
12,025
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
3,438
Density / Sq Mi
$76,559
Median Household Income
$45,245
Median Earnings
$1,641
Median Rent
$452,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Highly visible industrial and flex building with immediate access to major transportation corridors in Tukwila.
Where is this flex space located?
The property is located at 950 Andover Park E Tukwila, WA.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Industrial/flex building in Tukwila’s established industrial and commercial district.; Immediate access to the region’s major transportation corridors.; Central location for serving Seattle, Bellevue, the Eastside, Tacoma, and Sea‑Tac Airport.
