422 3Rd AveKent, WA 98032

Property Details for 422 3Rd Ave

Year built

1938

Construction

WOOD

Lot size

0.32 AC

Property size (Sq ft)

3,057 SF

Zone code

DCE

Property type

Retail space

APN

982570-0695

APU

9825700695

Description

This exceptional commercial property, located at 422 3rd Ave S in Kent, Washington, presents a unique opportunity for businesses seeking a versatile space. The building, constructed in 1938, boasts a total of 3,057 square feet, all currently available for lease as a single tenant space. The property is classified as a Class B building and features two stories. The building sits on a 0.32-acre lot (13,939 square feet) and is zoned DCE (Downtown Commercial Enterprise). The property includes a functional basement area suitable for storage or production, along with two upstairs offices and two bathrooms. Adding to its practicality, a 675 square foot storage shed and on-site graveled parking are also available. The property's location within the Kent Valley submarket, specifically the Southend cluster, offers excellent access to transportation and amenities. The King County location, with APN 982570-0695, provides a stable and desirable business address. This versatile space is ideal for a variety of businesses seeking a well-maintained building with ample storage and parking in a convenient location. The property's size and features make it an attractive option for companies looking to establish or expand their operations in the thriving Kent market. The building's history and solid construction provide a sense of permanence and stability.

• CAP approach

  CAP return

  Valuation

  6%

  $1,216,031

  6.5%

  $1,122,490

  7%

  $1,042,312

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,065,839

  Geo Method

  $1,483,567

• Alternative Use

  Use

  Valuation

  Residential

  $946,862

  Hospitality

  $867,321

  Educational

  $721,601

  Medical

  $746,418

  Retail

  $1,122,490

Location Insight

City

Kent

County

King

State

Washington

Latitude

47.378

Longitude

-122.236

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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