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Melbourne Building
412 - 418W Meeker St Kent WA 98032
Listing #: 676152 | Status: Available | Last Modified: 4/17/2024
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 170,334 |
| Vacancy Factor % | 5.76% |
| Operating Expenses | 35,671 |
| Net Operating Income | 124,846 |
| CAP Rate | 6.57 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Total Units | 9 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Retail Asset Class Info | |
|---|---|
| Crane Tonnage | 0 |
| Financial Summary | |
|---|---|
| CAP Rate | 6.569 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 2 |
| # of Units | 9 |
| Clearance Height Min | 0 |
| Total Building SF | 8,376 SF |
| Net Rentable Area | 4,188 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 8,156 SF |
| Acres | 0.19 |
| Year Built | 1958 |
| Year Renovated | 1985 |
| Construction Type | Masonry |
| Property Type | |
|---|---|
| Property Type | Retail |
| Office Type | Multi-Tenant |
| Investment | Yes |
| Location | |
|---|---|
| County | King |
| Market Area | Kent |
| Tax ID # | 9825700355 |
| Zoning | DCE |
| Parking Information | |
|---|---|
| #Covered Spaces | 0 |
| # Uncovered Spaces | 10 |
| Total Parking Spots | 10 |
| Parking Ratio | 0 |
The Melbourne Building
Tours available on Thursday January 25th – Contact listing agents to schedule. Paragon Real Estate Advisors is pleased to present the exclusive listing of the Melbourne Building, centrally located in the heart of Downtown Kent. This presents a compelling opportunity to acquire a highly visible mixed-use property, with 60% of its units having undergone renovation since 2021. The prospective owner not only inherits the stability of existing retail tenants but also possesses the value-add potential to renovate the remaining apartment units and bring all the rents to market. The Melbourne Building boasts a versatile design, featuring three leased retail spaces on the ground floor and five apartment units on the top floor. All three retail units have been leased and undergone comprehensive i
Melbourne Building
412 - 418W Meeker St Kent WA 98032
Listing #: 676152 | Status: Available | Listing Date: 1/12/2024 | Last Modified: 4/17/2024 | Email Listing
For Sale
Melbourne Building
