351 Park AveRenton, WA 98057

Property Details for 351 Park Ave

Year built

1958

Construction

WOOD

Lot size

0.34 AC

Property size (Sq ft)

2,630 SF

Zone code

CA

Property type

Retail properties

Property subtype

Turn key restaurants

APN

722400-0475

APU

7224000475

Description

This exceptional commercial property, situated at 351 Park Avenue North in Renton, Washington, presents a unique investment opportunity. Spanning 0.34 acres, the building boasts a highly desirable location just blocks from The Landing, Topgolf, Boeing facilities, and several parks. Easy freeway access and on-site parking add to its appeal. Previously home to a popular local establishment, the Hop Garden, the property retains many attractive features ideal for a variety of businesses. The interior includes a spacious dance floor, ample dining seating, a well-equipped bar with substantial seating, a full kitchen with gas appliances and a walk-in cooler, and a cozy fireplace. Large windows provide abundant natural light. The covered outdoor patio, a key feature, creates a welcoming atmosphere perfect for various events and gatherings. Its previous use as a dog-friendly establishment highlights its potential to attract a broad customer base. The property's prime location, combined with its versatile layout and existing amenities, makes it an excellent choice for entrepreneurs seeking a thriving business environment in a vibrant community. The asking price is $1,550,000.

• CAP approach

  CAP return

  Valuation

  6%

  $759,111

  6.5%

  $700,717

  7%

  $650,666

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,689,406

  Geo Method

  $1,276,343

• Alternative Use

  Use

  Valuation

  Residential

  $591,081

  Hospitality

  $541,427

  Educational

  $450,461

  Medical

  $465,953

  Retail

  $700,717

Location Insight

City

Renton

County

King

State

Washington

Latitude

47.4882

Longitude

-122.203

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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