24202 104th Ave SE - Retail FOR SALE


Kent, WA 98030
$3,951,450 USD
425-218-3636
24202 104th Ave SE, Kent, WA for Sale
$3,951,450 USD
Retail - FOR SALE
1/5
null | 6.75% Cap Rate

24202 104th Ave SE
Kent, WA 98030


HIGHLIGHTS

  • The property is 100 percent occupied with four tenants under structured NNN leases, reducing landlord obligations.
  • Anchored by a diverse tenant mix that includes food service and specialty retail users catering to a broad consumer base.
  • Located along 104th Avenue SE with over 30,000 vehicles per day, offering excellent visibility and convenient ingress and egress.
  • Surrounded by a dense population of more than 255,000 residents within a five-mile radius, with strong income levels and a growing employment base.
  • Situated near major regional job markets, providing direct access to Seattle, Bellevue, and Tacoma employment hubs and transportation networks.
  • In-place contractual rent escalations and below-market rental rates create upside potential for future income growth.

OVERVIEW

East Hill Plaza represents a fully leased retail investment in a highly active trade corridor within the East Hill area of Kent, Washington. The property spans 11,700 square feet on an ample 37,812 square-foot lot and is 100 percent occupied by a strong tenant mix under NNN lease structures that minimize landlord responsibility. Current tenants include a diverse range of food service and specialty retail operators, creating a stable and resilient income stream. Investors will appreciate the opportunity for immediate, predictable cash flow from an in-place NOI of $266,960 and a cap rate of 6.75 percent, supported by staggered lease expirations that distribute rollover risk. The asset also offers built-in upside through future rental growth, with many tenants currently paying below market rates and scheduled contractual rent increases in place. Situated along a heavily trafficked arterial, East Hill Plaza delivers consistent visibility and access from 104th Avenue SE, a major commercial corridor that serves more than 30,000 vehicles daily. Surrounded by a high-density population of over 255,000 residents within five miles and close to job centers in Seattle, Bellevue, and Tacoma, the property is strategically positioned to capitalize on long-term growth in one of the Puget Sound region’s most dynamic submarkets.

FOR SALE DETAILS

PRICE

$3,951,450 USD

PRICE/SF

$338 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,812 SF

ZONING

CC

APN/PARCEL ID

783080-0116

ASK ABOUT THIS PROPERTY

Andrew GraffKidder MathewsMore Info
425-218-3636

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Andrew GraffKidder MathewsMore Info
425-218-3636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.