The 500 Bldg
65,433 SF | 100% Leased | Office Building | Renton, WA 98057 | $11,750,000 ($180/SF) | 7.38% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,750,000
- Property Type
-
Office
- Square Feet
- 65,433 SF
- Price / Square Foot
- $180
Listing Contacts
Steve Brunette
Verified Profile
David Magee
Verified Profile
Ryan Brunette
Verified Profile
Allison Jones
Verified Profile
- Property Info
Property Overview
CBRE Inc, as exclusive advisor to the seller, is pleased to be bringing to the market The 500 SW 7th Building, an attractive opportunity to acquire a multi-tenanted, stabilized office investment in Renton, Washington. The property contains 65,753 rentable square feet over two (2) floors. The 500 SW 7th Building is located in what is commonly known as the “Southend Office Market”. This market is strategically located equidistant from the three major office markets in the Puget Sound Region (Seattle, Bellevue and Tacoma) and only minutes from SeaTac International Airport.
Investment Highlights:
› Strategic location with un-congested access to the region’s major freeways: I-5, I-405 and SR-167.
› Only minutes from one of the largest Regional Malls in Western Washington: the Westfield Mall at Southcenter.
› Numerous dining and business support services within walking distance or a short drive.
› Stabilized multi-tenant asset below replacement cost. Current NOI based on 100% occupancy.
› Functional and flexible design with ample natural light, the property benefits from attractive visibility, and easy access to both I-5 and I-405.
› Anticipated pricing materially below replacement cost.
› Excellent demographic and area job growth profiles.
Investment Highlights:
› Strategic location with un-congested access to the region’s major freeways: I-5, I-405 and SR-167.
› Only minutes from one of the largest Regional Malls in Western Washington: the Westfield Mall at Southcenter.
› Numerous dining and business support services within walking distance or a short drive.
› Stabilized multi-tenant asset below replacement cost. Current NOI based on 100% occupancy.
› Functional and flexible design with ample natural light, the property benefits from attractive visibility, and easy access to both I-5 and I-405.
› Anticipated pricing materially below replacement cost.
› Excellent demographic and area job growth profiles.
Property Details
- Class
- B
- Year Built
- 1967
- Stories
- 2
- Lot Size (sq. ft)
- 135,472 SF
Highlights
- Well-located, multi-tenant office/industrial investment property
- Easy access to area highways and freeways, with convenient freeway access to downtown Seattle and downtown Bellevue
- In-place zoning of IM provides for a wide-range of industrial, commercial and office uses
- In place leases provide attractive, staggered lease expiration schedule
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