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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    409 3rd S Ave Kent, WA 98032-5824

    • Office buildings
    • 4,692 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1294984
    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.

    Current Use by Public Records

    • Evergreen Association of ABC / Association / Organization
    • Josh Ensley, MA LMHC / Psychotherapist / Counselor
    • New Beginnings Christian / Baptist Church
    • Toro Taxes / Tax Preparation Service
    • Kent Agency / Insurance Agency

    Property Details for 409 3rd S Ave

    Year built
    1979
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    4,692 SF
    Zone code
    DCE
    Property type
    Office buildings
    APN
    982570-0715
    APU
    9825700715

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,017,000
      Market price range: $1.02M - $1.88M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,220,000
      Current use
      WAREHOUSE, STORAGE
      $1,125,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.236
    Latitude
    47.3782
    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
    2023
    $2,712
    $38,900
    $130,900
    $169,800
    -
    $38,900
    $130,900
    $169,800

    Comparable in this City

    • Value Estimation
      $880,000
      5,325 SF

      405 Gowe St

      OFFICE BUILDING • 5,325 SF
      405 Gowe St, Kent, WA 98032-5806
      View Details
    • Value Estimation
      $20,060,000
      125,614 SF

      6811 204th St

      OFFICE BUILDING • 125,614 SF
      6811 204th St, Kent, WA 98032-2359
      View Details
    • Value Estimation
      $1,340,000
      4,202 SF

      8300 206th St

      OFFICE BUILDING • 4,202 SF
      8300 206th St, Kent, WA 98032-1214
      View Details
    • Value Estimation
      $2,980,000
      14,964 SF

      3030 240th St

      OFFICE BUILDING • 14,964 SF
      3030 240th St, Kent, WA 98032-2819
      View Details
    • Value Estimation
      $11,190,000
      73,500 SF

      1209 Central S Ave

      OFFICE BUILDING • 73,500 SF
      1209 Central S Ave, Kent, WA 98032-7432
      View Details
    • Value Estimation
      $770,000
      3,649 SF

      205 Madison N Ave

      OFFICE BUILDING • 3,649 SF
      205 Madison N Ave, Kent, WA 98032-4408
      View Details

    Similar Nearby for Sale

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      Kent Professional Building For Sale

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      Class A office building in a prime Kent Valley location.
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      Prime Downtown Kent Location

      Versatile property in the heart of Kent, WA.
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      Kent Office Space Available

      Office property for sale in Kent, Washington.
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    • $1,900,000
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      Kent Transit-Oriented Development Site

      Prime development site near future light rail station.
      24141 Pacific Hwy S, Kent, WA 98032
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    • Contact for pricing

      Kent Industrial Land For Sale

      3.494 acres of industrial land in Kent, Washington.
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    Similar Nearby for Lease

    • $17 SF/Yr
      101,347 SF

      Southcenter Area Office Building

      Class B office building with excellent access and amenities.
      18000 72Nd Ave S, Kent, WA 98032
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    • Contact for pricing
      1,500 SF

      Kent Office Space For Rent

      Office space featuring four private offices and ample parking.
      821 Central Ave S, Kent, WA 98032
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    • $995,000
      2,135 SF

      Stand Alone Pad Building

      Highly visible, remodeled dental office on hard corner.
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    • Contact for pricing
      3,283 SF

      Kent Office Space Available

      Office space available for lease in Kent, Washington.
      20425 72Nd Ave S, Kent, WA 98032
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    • $22 SF/Yr
      44,550 SF

      Kent Valley Office Complex

      Prime Kent location, 44,550 sqft, 2,424 sqft available
      24437 Russell Rd, Kent, WA 98032
      View Details
    • Contact for pricing
      1,800 SF

      Kent Office and Yard Space

      Office and parking area available for lease in Kent.
      5866 S 194Th St, Kent, WA 98032
      View Details
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    409 3rd S Ave
    Kent, WA 98032-5824
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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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