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    24300 Pacific Hwy South Kent, WA 98032
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    Property profile & analytics

    24300 Pacific Hwy South Kent, WA 98032

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    • Auto shops
    • 3,200 SF
    • 9.44 lot acres
    For Lease
    $650,000
    View Listing →
    Kent Specialty Property For Lease For Lease
    $650,000
    3,200 SF

    Kent Specialty Property For Lease

    Specialty property available for lease in Kent, Washington.

    24300 Pacific Highway South, Kent, WA 98032
    View Listing
    Property ID
    US90-1473431
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $650,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Redmond Heavy Hauling / Trucking Company
    • Sutton Trucking / Trucking Company

    Property Details for 24300 Pacific Hwy South

    Year built
    1969
    Construction
    STEEL FRAME
    Lot size
    9.44 lot acres
    Property size
    3,200 SF
    Zone code
    MCR
    Property type
    Auto shops
    APN
    212204-9046
    APU
    2122049046

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $762,000
      Market price range: $161k - $762k

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.294
    Latitude
    47.3833
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $68,237
    $6,166,500
    $61,200
    $6,227,700
    -
    $6,166,500
    $61,200
    $6,227,700

    Comparable in this City

    • Value Estimation
      $1,140,000
      18,370 SF

      18727 Vly Hwy

      AUTO REPAIR, GARAGE • 18,370 SF
      18727 Vly Hwy, Kent, WA 98032-1230
      View Details
    • Value Estimation by Request
      7,000 SF

      1506 Central S Ave

      AUTO REPAIR, GARAGE • 7,000 SF
      1506 Central S Ave, Kent, WA 98032-7420
      View Details
    • Value Estimation
      $510,000
      2,712 SF

      19600 68th S Ave

      AUTO REPAIR, GARAGE • 2,712 SF
      19600 68th S Ave, Kent, WA 98032
      View Details
    • Value Estimation
      $2,105,000
      6,282 SF

      911 James St

      AUTO REPAIR, GARAGE • 6,282 SF
      911 James St, Kent, WA 98032-4475
      View Details
    • Value Estimation
      $1,780,000
      5,860 SF

      26460 Pacific S Hwy

      AUTO REPAIR, GARAGE • 5,860 SF
      26460 Pacific S Hwy, Kent, WA 98032-6930
      View Details
    • Value Estimation
      $555,000
      8,400 SF

      24453 Pacific S Hwy

      AUTO REPAIR, GARAGE • 8,400 SF
      24453 Pacific S Hwy, Kent, WA 98032-4003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,380 SF

      Kent Automotive Property For Sale

      Single-tenant automotive property with 10 roll-up doors and ample parking.
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      7,200 SF

      Kent Commercial Lot with Building

      24,246 SF lot with 2,438 SF building in Kent.
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      2,135 SF

      Stand Alone Pad Building

      Highly visible, remodeled dental office on hard corner.
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    • $2,205,000

      Prime Downtown Kent Location

      Versatile property in downtown Kent with excellent visibility and accessibility.
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    • $2,205,000

      Prime Downtown Kent Location

      Versatile property in downtown Kent with excellent visibility and accessibility.
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    • Contact for pricing
      24,240 SF

      Kent Mixed-Use Commercial Lot

      24,246 Sq Ft lot with 2,438 Sq Ft building.
      408 Central Ave N, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Kent Office and Yard Space

      Office and parking area available for lease in Kent.
      5866 S 194Th St, Kent, WA 98032
      View Details
    • Contact for pricing

      Downtown Kent Retail/Business Space

      Located in the heart of Kent's retail and business district.
      425 W Meeker St, Kent, WA 98032
      View Details
    • Contact for pricing
      23,867 SF

      Retail Space in Woodmont Plaza

      23,867 SF retail space in Kent, WA for lease.
      26200 Pacific Hwy S, Kent, WA 98032
      View Details
    • Contact for pricing
      1,822 SF

      Retail Space in Kent, WA

      Retail property available for lease in Kent, Washington.
      841 N Central Ave, Kent, WA 98032
      View Details
    • $12 SF/Yr

      Downtown Kent Retail/Office Space

      Flexible retail and office spaces in revitalizing downtown Kent.
      213 1St Ave S, Kent, WA 98032
      View Details
    • Contact for pricing

      Mixed-Use Building Near Kent Station

      16,756 SF mixed-use building with retail and apartments.
      214-224 W Meeker St, Kent, WA 98032
      View Details
    View Listing
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    Kent, WA 98032
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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