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Property profile

17018 Wax Rd Covington, WA 98042

OFF-MARKET
Mixed-use properties
1,290 SF 0.8 ac lot Built 1958
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Property summary

AI-generated overview

This exceptional 0.8-acre mixed-use property at 17018 SE Wax Rd, Covington, WA 98042, presents a compelling redevelopment opportunity. The 1,290 square foot building, constructed in 1958 and renovated in 1980, sits on a highly desirable lot within the Town Center District zoning. This prime location offers unparalleled access to Covington's vibrant Town Center, placing it adjacent to Vineyard Park, The Station Apartments, and Affinity at Covington. The property's strategic positioning ensures high visibility and accessibility for potential tenants. The permitted Town Center District zoning allows for a diverse range of redevelopment options, including medical, professional office, and mixed-use retail spaces. This presents a unique chance to capitalize on the growing demand for commercial and retail space in this thriving community. The existing building provides a solid foundation for a renovation project or could be demolished to make way for new construction, maximizing the potential of this exceptional site. With its convenient location and flexible zoning, this property is an ideal investment for developers seeking a high-impact project in a rapidly expanding area. The asking price is $775,000.

Property profile

Verified
Property type Mixed-use properties
Year built 1958
Total area 1,290 SF
Lot 0.8 ac (34,848 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

17018 Wax Rd Covington, WA 98042
Covington metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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