Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    422 3rd St Renton, WA 98057-2026
    Back to Search
    Property profile & analytics

    422 3rd St, Renton, WA 98057-2026

    View on Map
    • Retail space
    • 11,553 SF
    • 0.35 lot acres
    Off-Market
    Property ID
    US90-1339420
    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
    $1,960,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 422 3rd St

    Year built
    1942
    Construction
    WOOD
    Lot size
    0.35 lot acres
    Zone code
    CD
    Property type
    Retail space
    APN
    784180-0165
    APU
    7841800165

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 3, 2016 — Salvation Of Renton LLC — Deed · related $480k · First Financial Northwest Bank
    Mar 14, 2016 $1,100,000 Salvation Of Renton LLC Salvation Army Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,870,000
      6.5%
      $2,650,000
      7%
      $2,460,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Renton
    County
    King
    State
    Washington
    Longitude
    -122.211
    Latitude
    47.48
    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
    2022
    $19,285
    $645,100
    $1,187,800
    $1,832,900
    -
    $645,100
    $1,187,800
    $1,832,900

    Comparable in this City

    • Value Estimation by Request
      1,488 SF

      205 3rd St

      RETAIL STORES (PERSONAL SERVICES)
      205 3rd St, Renton, WA 98057-2030
      View Details
    • Value Estimation
      $1,285,000
      6,603 SF

      175 Rainier S Ave

      RETAIL STORES (PERSONAL SERVICES)
      175 Rainier S Ave, Renton, WA 98057-2003
      View Details
    • Value Estimation
      $10,400,000
      36,000 SF

      2985 Naches SW Ave

      RETAIL STORES (PERSONAL SERVICES)
      2985 Naches SW Ave, Renton, WA 98057-2617
      View Details
    • Value Estimation
      $965,000
      5,243 SF

      224 Wls S Ave

      RETAIL STORES (PERSONAL SERVICES)
      224 Wls S Ave, Renton, WA 98057-2130
      View Details
    • Value Estimation
      $1,465,000
      7,344 SF

      54 Rainier S Ave

      RETAIL STORES (PERSONAL SERVICES)
      54 Rainier S Ave, Renton, WA 98057-2082
      View Details
    • Value Estimation
      $1,065,000
      5,556 SF

      220 Wls S Ave

      RETAIL STORES (PERSONAL SERVICES)
      220 Wls S Ave, Renton, WA 98057-2130
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile CA-Zoned Building Opportunity

      Flexible building suitable for investors, owner-users, and developers.
      529 Shattuck Ave S, Renton, WA 98057
      View Details
    • Contact for pricing

      Prime Commercial Property on Park

      Commercial property with patio, bar, kitchen, and parking.
      351 Park Ave N, Renton, WA 98057
      View Details
    • Contact for pricing
      32,788 SF

      Renton Retail, Showroom, Warehouse Space

      Retail, showroom, and warehouse with parking/yard storage for sale.
      1300 Bronson Way N, Renton, WA 98057
      View Details
    • $3,850,000
      10,068 SF

      Renton Retail/Auto Sales Property

      Retail/auto sales property in Renton with expansion potential.
      720 Rainier Ave South, Renton, WA 98057
      View Details
    • $11,500,000

      Renton Retail/Commercial Building For Sale

      20,000 SF retail/commercial building with casino and parking.
      3100 East Valley Rd, Renton, WA 98057
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,277 SF

      Urban-Village Shopping Center Retail Space

      Retail space available in a large urban-village shopping center.
      1215 N Landing Way, Renton, WA 98057
      View Details
    • Contact for pricing
      703 SF

      Renton Retail Space Available

      Retail space for rent in Renton, Washington.
      364-465 Renton Center Way S, Renton, WA 98057
      View Details
    • Contact for pricing
      2,200 SF

      Downtown Renton Warehouse Style Space

      Unique 2,200 sq ft warehouse space in downtown Renton.
      205 Logan Ave S, Renton, WA 98057
      View Details
    • Contact for pricing
      5,980 SF

      Sunset Blvd Retail Sublease

      Highly visible retail space available for sublease on Sunset Blvd.
      350 Sunset Blvd N, Renton, WA 98057
      View Details
    • $8,502 /Mo
      5,980 SF

      Visible Retail Space on Sunset

      Sublease opportunity with high visibility and convenient parking.
      350 Sunset Blvd N, Renton, WA 98057
      View Details
    • $2,880 /Mo
      1,080 SF

      Airport Plaza Retail/Office Space

      Retail, office, and medical space in busy shopping center.
      54 Rainier Ave S, Renton, WA 98057
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    422 3rd St
    Renton, WA 98057-2026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    422 3rd St, Renton, WA, 98057
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!