412 - 418W Meeker St
Kent WA 98032
Melbourne Building
412 - 418W Meeker St Kent WA 98032
Listing #: 676152 | Status: Available | Last Modified: 4/17/2024 |
For Sale
- Phone:(206) 812-9130
- Email:brianp@paragonrea.com
- Office Name:Paragon Real Estate Advisors
- Office Phone:(206) 623-8880
- Office Website:
- Agent Phone:(206) 812-9123
- Agent Email:michael@paragonrea.com
- Agent Phone:(206) 812-9101
- Agent Email:ben@paragonrea.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 2,050,000.0
- $/SF$ 489.5
- $/Unit$ 227,777.8
- Listing StatusAvailable
- Days on Market107
- Asset ClassRetail, Multi-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income170,334
- Vacancy Factor %5.76%
- Operating Expenses35,671
- Net Operating Income124,846
- CAP Rate 6.57 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units9
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- CAP Rate 6.57 %
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units9
- # of Elevators
- Clearance Height Min0
- Clearance Height Max
- Bay Depth
- Total Building SF8376
- Net Rentable Area4188
- Total Office SF
- Largest Contiguous SF
- Lot SF8156
- Acres0.19
- Property TypeRetail
- Office TypeMulti-Tenant
- InvestmentYes
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaKent
- Tax ID #9825700355
- Additional Parcels
- ZoningDCE
- # Covered Spaces0
- # Uncovered Spaces10
- Total Parking Spots10
- Parking Ratio0
- Year Built1958
- Year Renovated1985
- Completion Date
- Roof Type
- Construction TypeMasonry
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
