$2,050,000
Melbourne Building
Listing Type: For Sale
Property Type: Multi-Family, Retail
Status: Available
CBA ID#: 676152
412 - 418 W Meeker St
Kent, WA 98032

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Commercial Property

Marketing Description:

Tours available on Thursday January 25th – Contact listing agents to schedule.Paragon Real Estate Advisors is pleased to present the exclusive listing of the Melbourne Building, centrally located in the heart of Downtown Kent. This presents a compelling opportunity to acquire a highly visible mixed-use property, with 60% of its units having undergone renovation since 2021. The prospective owner not only inherits the stability of existing retail tenants but also possesses the value-add potential to renovate the remaining apartment units and bring all the rents to market. The Melbourne Building boasts a versatile design, featuring three leased retail spaces on the ground floor and five apartment units on the top floor. All three retail units have been leased and undergone comprehensive i

Land Features:

  • Lot Size: 8156 SqFt
  • Lot Acreage: 0.19 Acres
  • Zoning: DCE
  • Total Parking: 10
  • Uncovered Parking: 10

Building Features:

  • Building Size: 8376 SqFt
  • Available Space: 8376 SqFt
  • Number of Floors: 2
  • Cap Rate: 6.09%
  • Construction: Masonry
  • Year Built: 1958
This Listing Supplied Courtesy of Paragon Real Estate Advisors
Information is based on data available to the associate, including county records.
The information has not been verified by the associate and should be verified by the buyer.
Properties with the CBA logo are listed by the Commercial Brokers Association
The associate of this site is not a multiple listing service but is a member of a local MLS.
Equal Housing Opportunity