24202 104th Ave SE 11,700 SF 100% Leased Retail Building Kent, WA 98030 $5,614,655 CAD ($479.89 CAD/SF) 6.75% Cap Rate

East Hill Plaza represents a fully leased retail investment in a highly active trade corridor within the East Hill area of Kent, Washington. The property spans 11,700 square feet on an ample 37,812 square-foot lot and is 100 percent occupied by a strong tenant mix under NNN lease structures that minimize landlord responsibility. Current tenants include a diverse range of food service and specialty retail operators, creating a stable and resilient income stream.
Investors will appreciate the opportunity for immediate, predictable cash flow from an in-place NOI of $266,960 and a cap rate of 6.75 percent, supported by staggered lease expirations that distribute rollover risk. The asset also offers built-in upside through future rental growth, with many tenants currently paying below market rates and scheduled contractual rent increases in place. Situated along a heavily trafficked arterial, East Hill Plaza delivers consistent visibility and access from 104th Avenue SE, a major commercial corridor that serves more than 30,000 vehicles daily. Surrounded by a high-density population of over 255,000 residents within five miles and close to job centers in Seattle, Bellevue, and Tacoma, the property is strategically positioned to capitalize on long-term growth in one of the Puget Sound region’s most dynamic submarkets.