950 Andover ParkTukwila, WA 98188

Property Details for 950 Andover Park

Year built

1975

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.84 AC

Property size (Sq ft)

41,286 SF

Zone code

TUC-WP

Property type

Industrial properties

APN

262304-9105

APU

2623049105

Description

This exceptional 41,286-square-foot flex space presents a unique opportunity for owner-users or investors. Situated on a 1.86-acre lot in Tukwila, Washington's thriving Tukwila Urban Center-Work Place (TUC-WP) zone, this single-story, 1975-built building underwent renovations in 1990. Boasting an open floor plan, it offers remarkable versatility for a wide array of uses. The property enjoys a highly visible corner location at the signalized intersection of Minkler Boulevard and Andover Park East, providing exceptional street frontage and exposure. Features include eight loading docks, one dock-high door, and ceiling heights ranging from 18 to 23 feet. Ample parking is available with 40 spaces. The building is currently vacant, presenting a clean slate for the next occupant. The property's full roof was replaced in 2018. With a King County APN of 262304-9105, this asset offers a compelling combination of location, size, and functionality in a submarket with only 3.9% vacancy. The property's zoning allows for a variety of uses, making it an ideal choice for businesses seeking a flexible and prominent location. This is a rare opportunity to acquire a well-located, versatile industrial, office, and retail space in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $24,124,400

  6.5%

  $22,268,700

  7%

  $20,678,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,714,300

  Geo Method

  $12,721,400

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $11,564,500

  Mixed-Use / Specialty

  $11,637,700

  Hospitality / Lodging

  $8,687,180

  Office

  $11,687,700

  Institutional / Educational

  $12,139,400

  Residential Income

  $14,203,100

  Multifamily

  $16,400,100

  Automotive / Energy

  $10,405,200

  Parking / Income-Based Land

  $3,477,660

  Restaurant / Food Service

  $6,297,060

  Healthcare / Senior Housing

  $11,816,900

Location Insight

City

Tukwila

County

King

State

Washington

Latitude

47.4481

Longitude

-122.25

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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