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    824 3Rd Ave S Kent, WA 98032
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    824 3Rd Ave S Kent, WA 98032

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    • Office Units
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    Kent Office Space For Lease For Lease
    Contact for pricing
    1,200 SF

    Kent Office Space For Lease

    Office space available for lease in Kent, Washington.

    824 3rd Ave S, Kent, WA 98032
    View Listing
    Property ID
    US90-0356867
    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

    • Office Units

    Property Details for 824 3Rd Ave S

    Property type
    Office Units
    Property subtype
    Commercial real estate

    Description

    5% commission to tenant rep brokers with a qualified lease. PROPERTY DESCRIPTION For Lease $0.65/SF/Month NNN 1,200 SF of Office Space 200 AMP 480V Three Phrase Power

    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
    -122.2351081
    Latitude
    47.3733773

    Comparable in this City

    • Contact for pricing
      15,488 SF

      Kent Office Space Available Now

      Demisable office space with open layout, private offices, and amenities.
      19625 62Nd Ave S, Kent, WA 98032
      View Details
    • 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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    • Contact for pricing
      10,464 SF

      Kent Office Space Available

      Office space available for lease in Kent, Washington.
      20425 72Nd Ave S, Kent, WA 98032
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    • $18 SF/Yr
      16,900 SF

      Kent Office Space Available

      16,900 square feet of office space for lease.
      23835 Pacific Hwy S, Kent, WA 98032
      View Details
    • Contact for pricing

      Kent Office and Yard Space

      Office and parking area available for lease in Kent.
      5866 S 194Th St, Kent, WA 98032
      View Details
    • $2 SF/Yr
      2,450 SF

      Kent Office Space For Rent

      High-quality business park with flexible floor plans and expansion options.
      19219 68Th Ave South, Kent, WA 98032
      View Details

    Similar Nearby for Sale

    • $2,205,000
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      Prime Downtown Kent Location

      Versatile property in the heart of Kent, WA.
      221 W Gowe St, Kent, WA 98032
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      44,602 SF Industrial Building

      Industrial building with office space, secured yard, and freeway access.
      7036 S 190Th St, Kent, WA 98032
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      Kent Warehouse Space Available Now

      42,049 SF warehouse space with excellent access to SR 167.
      8030 S 194Th St, Kent, WA 98032
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    • $16,200,000

      Kent Industrial Building For Sale

      65,858 SF industrial building with freeway access in Kent.
      7036 S 190Th St, Kent, WA 98032
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    • $2,205,000

      Prime Downtown Kent Location

      Versatile property in downtown Kent with excellent visibility and accessibility.
      221 West Gowe St, Kent, WA 98032
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    • $1,495,000

      Downtown Kent Warehouse/Office Space

      5000 SF office, manufacturing, warehouse space in downtown Kent.
      704 W Meeker St, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,488 SF

      Kent Office Space Available Now

      Demisable office space with open layout, private offices, and amenities.
      19625 62Nd Ave S, Kent, WA 98032
      View Details
    • 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
      View Details
    • Contact for pricing
      10,464 SF

      Kent Office Space Available

      Office space available for lease in Kent, Washington.
      20425 72Nd Ave S, Kent, WA 98032
      View Details
    • $18 SF/Yr
      16,900 SF

      Kent Office Space Available

      16,900 square feet of office space for lease.
      23835 Pacific Hwy S, Kent, WA 98032
      View Details
    • Contact for pricing

      Kent Office and Yard Space

      Office and parking area available for lease in Kent.
      5866 S 194Th St, Kent, WA 98032
      View Details
    • $11 SF/Yr
      226,836 SF

      Kent Office Space Sublease

      Office space in Kent with easy I-5 access.
      20415 72Nd Ave S, Kent, WA 98032
      View Details
    View Listing
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    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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