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Melbourne Building
412 - 418W Meeker St Kent WA 98032
Listing #: 686615 | Status: Available | Last Modified: 11/13/2024
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 173,608 |
| Vacancy Factor % | 5.00% |
| Operating Expenses | 48,815 |
| Net Operating Income | 116,112 |
| CAP Rate | 6.75 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Retail Asset Class Info | |
|---|---|
| Crane Tonnage | 0 |
| Financial Summary | |
|---|---|
| CAP Rate | 6.746 |
| 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 |
| 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
We are 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 75% 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 two 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 interior renovations within the past two years. The renovations encompassed various upgrades, such as
Melbourne Building
412 - 418W Meeker St Kent WA 98032
Listing #: 686615 | Status: Available | Listing Date: 9/10/2024 | Last Modified: 11/13/2024 | Email Listing
For Sale
Melbourne Building
