365 Grady Way Renton, WA 98057-3206
This exceptional Renton, King County property offers 91,813 square feet of retail, restaurant, and office space across three single-story buildings. Built in 1965 and renovated in 2007, the property sits on a 9.8-acre lot (426,966 sq ft) with a generous 4.5:1 parking ratio. The maximum contiguous space available is 5,240 square feet, ideal for a variety of businesses. Located at the intersection of I-405 and SR-167, near S Grady and Rainier Ave. South, this location boasts exceptional visibility and accessibility, with two signalized intersections allowing for full left-turn movements. Annual property taxes are $6.75 per square foot. The property benefits from high daily traffic volume of approximately 29,909 vehicles per day (2018 data) on South Grady Way. It's situated directly across from a major Park & Ride, soon to be redeveloped into a South Renton Bus Rapid Transit Center (construction starting 2023). This prime location offers easy access to I-405, connecting to Bellevue, Seattle, and SEATAC International Airport. Strong co-tenancy includes Uwajimaya, Big 5 Sporting Goods, McDonald's, Applebee's, Genki Sushi, Wells Fargo, and Lemongrass Restaurant, ensuring a consistent flow of customers throughout the day and evening. The APN is 1923059043. This property presents a unique opportunity for businesses seeking high visibility and convenient access in a thriving Renton submarket.
iii. In the CA Zone where abutting a City of Renton residential zone if at least one (1) vertically mixed-use building is constructed along the street frontage(s) with a minimum of two (2) residential stories above commercial, the standalone residential building(s) are sited closest to the abutting residential zone and, if townhouses, limited to three (3) st…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CA · Renton, WAiii. In the CA Zone where abutting a City of Renton residential zone if at least one (1) vertically mixed-use building is constructed along the street frontage(s) with a minimum of two (2) residential stories above commercial, the standalone residential building(s) are sited closest to the abutting residential zone and, if townhouses, limited to three (3) stories; iv. In the UC Zones where currently existing; v. In the COR Zone as determined through the Master Site Plan process; and vi. In the CN Zone, provided commercial or vertically mixed-use buildings are sited closest to a public street and any standalone residential is closest to any adjacent residential zone. Standalone carriage house and garden style apartments shall be prohibited. Where standalone residential buildings are not allowed, dwelling units shall be integrated into a vertically mixed-use building with ground floor commercial situated closest to a public street. (Ord. 6089, 12-12-2022) b. Commercial Uses: Commercial uses in residential mixed-use developments are limited to retail sales, on-site services, eating and drinking establishments, taverns, daycares, preschools, indoor recreational facilities, pet daycares, craft distilleries/small wineries/micro-breweries with tasting rooms, general offices not located on the ground floor, and similar uses as determined by the Administrator. Uses normal and incidental to a building including, but not limited to, interior entrance areas, elevators, waiting/lobby areas, mechanical rooms, mail areas, garbage/recycling/compost storage areas, vehicle parking areas, and areas/facilities for the exclusive use of the residents are not considered commercial uses. c. Timing of Development: A building permit shall not be issued for any standalone residential building(s) prior to the issuance of a building permit for any required standalone commercial or vertically mixed-use building(s) and no certificate of occupancy shall be issued for any standalone residential building(s) prior to the issuance of a certificate of occupancy for any required standalone commercial or vertically mixed-use building(s). d. Mixed-Income Housing: Upon any site and its abutting lots in the CV zone: i. There shall be no more than: (a) One hundred (100) dwelling units for rent/lease with income restrictions; provided, that an additional ten (10) such units may be created for every twenty (20) market-rate dwelling units (e.g., if twenty (20) market-rate units are created, ten (10) more income-restricted units may be created);
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.