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Individually Owned Property summary
This exceptional investment opportunity presents a 18,900 square foot auto shop in Tukwila, WA, currently leased to Foss Audio under a Net Lease (NNN) agreement. The property, located at 512 Strander Blvd, 98188, sits on a 0.69-acre lot and boasts a single-story building constructed in 1969 and renovated in 2014. The current lease, commencing September 30, 2022, and expiring September 29, 2027, offers a remaining term of approximately 2.9 years. The tenant, Foss Audio, is backed by a… corporate guarantee, providing significant security. The current rent is below market, with a pro-forma cap rate of 8.80% achievable through market rent adjustments. The lease includes a 3-year option at fair market rent, offering substantial near-term upside potential. The property's TUC-TOD zoning allows for diverse commercial uses, providing flexibility for future development. Its prime location, just two blocks from Westfield Southcenter Mall and a short drive from downtown Seattle, Bellevue, and Seattle-Tacoma International Airport, ensures high visibility and accessibility. The surrounding area exhibits robust population growth, with over 287,000 residents within a 5-mile radius. The asking price is $4,295,000, representing a price per square foot of $227.25 and a current cap rate of 4.75%. The Net Operating Income (NOI) is $204,000. This is a fee simple ownership opportunity with minimal landlord responsibilities. The state of Washington offers income tax-free benefits.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Oct 2026Realmo valuation models over county records and 13 qualifying comparable sales.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
1 recorded sale · 15 properties nearbyComparable nearby
Similar in This City for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 18,900 SF
- Lot area
- 0.69 ac
- Year built
- 1969
- Stories
- 2
- APN
- 022320-0041
- Zoning
- TUC-TOD
- Assessed value · 2022
- $2,175,300
- Annual tax · 2022
- $24,999
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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Official district profile
The area extending from the bus transit center on Andover Park West eastward towards the Sounder commuter rail or Amtrak station is intended to provide a more compact and vibrant mix of housing, office, lodging and suppo…
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Value Estimation
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- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Signals, scores & lead lists
- 1500 owner contacts a month
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- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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