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Bldg A 555 W Smith St 22,714 SF 100% Leased Office Building Kent, WA 98032 $6,685,725 ($294.34/SF) 6% Cap Rate
Investment Highlights
- Consistently strong performance with a track record of long-term tenancy and below-market vacancy compared to peer suburban office assets.
- Meticulously maintained by ownership with strong curb appeal and reputation as one of downtown Kent’s finest professional office properties.
- Tenants include prominent legal, financial services, and community services such as US Bank Business Banking, Stewart Beall MacNichols, and ILS.
- Large surface parking lot provides convenient access for tenants and visitor s, suppor ting sus t ained tenant retention.
- Just blocks from SR-167, providing quick connections to I-5, I-405, and the entire Seattle, Bellevue, and Tacoma metro corridor.
- Directly adjacent to the Regional Justice Center and within walking distance to Kent Station, Sound Transit bus and rail.
Executive Summary
PREMIER OFFERING IN THE HEART OF KENT.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
22,714 SF
Building Class
B
Year Built/Renovated
1988/2012
Price
$6,685,725
Price Per SF
$294.34
Cap Rate
6%
NOI
$401,144
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
11,357 SF
Slab To Slab
11’
Building FAR
0.25
Lot Size
2.11 AC
Zoning
DCE
Parking
66 Spaces (5.52 Spaces per 1,000 SF Leased)
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Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 242204-9096 | Improvements Assessment | $3,964,900 |
| Land Assessment | $2,756,100 | Total Assessment | $6,721,000 |
Property Taxes
Parcel Number
242204-9096
Land Assessment
$2,756,100
Improvements Assessment
$3,964,900
Total Assessment
$6,721,000
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