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    821 Central Ave S Kent, WA 98032

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    821 Central Ave S Kent, WA 98032

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    • Outlet malls
    • 26,060 SF
    • 1.58 lot acres
    For Lease
    $3,725,000
    View Listing →
    Kent Office Space For Rent For Lease
    $3,725,000
    1,500 SF

    Kent Office Space For Rent

    Office space featuring four private offices and ample parking.

    821 Central Ave S, Kent, WA
    View Listing
    Property ID
    US90-1159904
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Glass America / Auto Repair Shop
    • 360 Motors / Car Dealership
    • CarNova Auto Repair / Auto Repair Shop
    • Gerber Collision & Glass / Auto Repair Shop
    • IPS NW Inc Remodel Shop / Hardware & Home Improvement / Kitchen & Bath Showroom

    Property Details for 821 Central Ave S

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.58 lot acres
    Property size
    26,060 SF
    Zone code
    CM
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    000660-0064
    APU
    6600064

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.231
    Latitude
    47.3736
    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
    $34,852
    $1,069,600
    $1,921,600
    $2,991,200
    -
    $1,069,600
    $1,921,600
    $2,991,200

    Comparable in this City

    • Value Estimation
      $2,745,000
      20,800 SF

      1720 Central S Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 20,800 SF
      1720 Central S Ave, Kent, WA 98032-7416
      View Details
    • Value Estimation
      $1,140,000
      9,720 SF

      316 Meeker St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,720 SF
      316 Meeker St, Kent, WA 98032-5819
      View Details
    • Value Estimation
      $2,015,000
      9,217 SF

      215 Meeker St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,217 SF
      215 Meeker St, Kent, WA 98032-5820
      View Details
    • Value Estimation
      $1,580,000
      15,000 SF

      306 Central N Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 15,000 SF
      306 Central N Ave, Kent, WA 98032
      View Details
    • Value Estimation by Request
      1,600 SF

      1148 Central N Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,600 SF
      1148 Central N Ave, Kent, WA 98032-3044
      View Details
    • Value Estimation
      $735,000
      4,900 SF

      1520 Central S Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,900 SF
      1520 Central S Ave, Kent, WA 98032-7420
      View Details

    Similar Nearby for Sale

    • 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
    • $6,500,000

      Development Opportunity Near Light Rail

      Land suitable for mixed-use development near Kent Des Moines station.
      24202 Pacific Hwy S, Kent, WA 98032
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    • $2,205,000
      5,880 SF

      Prime Downtown Kent Location

      Versatile property in the heart of Kent, WA.
      221 W Gowe St, Kent, WA 98032
      View Details
    • $3,500,000
      26,536 SF

      Mixed-Use Asset in Active Submarket

      Two-story mixed-use property with income upside in South King County.
      235 1St Ave S, Kent, WA 98032
      View Details
    • Contact for pricing
      7,200 SF

      Kent Commercial Lot with Building

      24,246 SF lot with 2,438 SF building in Kent.
      418 Central Ave N, Kent, WA 98032
      View Details
    • Contact for pricing
      2,135 SF

      Stand Alone Pad Building

      Highly visible, remodeled dental office on hard corner.
      23241 Pacific Hwy S, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grocery-Anchored Shopping Center in Kent

      Retail spaces available in Kent, WA, near Highway 167.
      210-406 Washington Ave S, Kent, WA 98032
      View Details
    • Contact for pricing

      Retail Space Near Highline College

      Retail space with high traffic near Highline College.
      23313 Pacific Hwy south des moines, Des Moines, WA 98032
      View Details
    • $20 SF/Yr
      3,232 SF

      26,536 SF Mixed-Use Building

      Mixed-use building with commercial suites and residential units for sale.
      213-235 1St Ave S, Kent, WA 98032
      View Details
    • Contact for pricing

      Kent Commercial Lot with Building

      24,246 Sq Ft lot with 2,438 sq ft building.
      408 Central Ave N, Kent, WA 98032
      View Details
    • Contact for pricing
      12,940 SF

      Retail Space in Kent, WA

      Retail property available for lease in Kent, Washington.
      23406-23424 Pacific Hwy S, Kent, WA 98032
      View Details
    • Contact for pricing
      6,400 SF

      Retail/Industrial Space with Fenced Yard

      Retail or industrial space with excellent street exposure and yard.
      1002 Central Ave N, Kent, WA 98032
      View Details
    View Listing
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    821 Central Ave S
    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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