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24034 104th Ave SE 29,410 SF Retail Building Kent, WA 98030 $4,920,000 ($167.29/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Value Village has operated at this location for more than 20 years and recently exercised a three-year extension, securing its lease through Dec 28
- The U.S. secondhand market is experiencing rapid expansion, valued at approximately $50 billion in 2024, a 30% increase from the prior year
- Savers (NYSE: SVV) is the largest for-profit thrift retailer in North America, operating 351 locations across the United States, Canada and Australia.
EXECUTIVE SUMMARY
Value Village is a single tenant net leased retail investment property located within the Old Orchard Shopping Center at 24034 104th Avenue SE in Kent, Washington. Built in 1977, the property comprises 28,700 rentable square feet on a 2.47-acre lot.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
29,410 SF
Building Class
B
Year Built
1977
Price
$4,920,000
Price Per SF
$167.29
Cap Rate
7%
NOI
$344,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
2.00 AC
Zoning
CC, Kent
Parking
60 Spaces (2.04 Spaces per 1,000 SF Leased)
Frontage
157’ on 104th Ave
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 783080-0051 | Improvements Assessment | $1,175,100 |
| Land Assessment | $2,209,200 | Total Assessment | $3,384,300 |
PROPERTY TAXES
Parcel Number
783080-0051
Land Assessment
$2,209,200
Improvements Assessment
$1,175,100
Total Assessment
$3,384,300
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24034 104th Ave SE
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