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600 SW 10th St
Renton, WA 98057
Elion Renton 405 · Industrial Property For Sale
INVESTMENT HIGHLIGHTS
- Rare, low-coverage 10 AC site with yard in the North Kent Valley
- Investment grade tenancy with four credit upgrades in the last three years
- Easy access to multiple freeways
- Central location proximate to Seattle’s population centers - access to 1.8 million people within 15 miles
- Mission critical location and facility
- Value is supported by rising land values and construction costs
EXECUTIVE SUMMARY
CBRE, Inc. is pleased to present the exceptional opportunity to acquire 600 SW 10th St (The Property), a state-of-the art industrial facility totaling 114,758 SF on a 10 AC site in North Kent Valley, Seattle. A rare investment opportunity in the Kent Valley submarket, the Property is 100% leased to Tesla (S&P BBB / Moody’s Baa3) on a long term lease. Tesla is using the mission critical property as part of the new Collision Center program, with additional yard space and location paramount to site selection.
600 SW 10th St will undergo significant renovation with $9M+ capital investment, including new upgrades to the dock doors, parking lot, HVAC & lighting. The Property features 4.4-acre yard, a low 26% coverage, 2,500 amps of power, and a 32’ clear height.
The Property’s long-term triple-net lease is guaranteed by an investment grade tenant, and one of the world’s most recognizable brands, Tesla, providing an exceptional Seattle investment opportunity in the high liquidity, low risk Kent Valley submarket.
600 SW 10th St will undergo significant renovation with $9M+ capital investment, including new upgrades to the dock doors, parking lot, HVAC & lighting. The Property features 4.4-acre yard, a low 26% coverage, 2,500 amps of power, and a 32’ clear height.
The Property’s long-term triple-net lease is guaranteed by an investment grade tenant, and one of the world’s most recognizable brands, Tesla, providing an exceptional Seattle investment opportunity in the high liquidity, low risk Kent Valley submarket.
PROPERTY FACTS
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 5% | Year Built | 1975 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Distribution | Parking Ratio | 2/1,000 SF |
| Building Class | B | Clear Ceiling Height | 32’ |
| Lot Size | 10.01 AC | No. Dock-High Doors/Loading | 6 |
| Rentable Building Area | 114,758 SF | ||
| Zoning | IM - Industrial | ||
| Sale Type | Investment NNN |
| Cap Rate | 5% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 10.01 AC |
| Rentable Building Area | 114,758 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Tenancy | Single |
| Parking Ratio | 2/1,000 SF |
| Clear Ceiling Height | 32’ |
| No. Dock-High Doors/Loading | 6 |
| Zoning | IM - Industrial |
AMENITIES
- 24 Hour Access
- Fenced Lot
- Signage
- Skylights
UTILITIES
- Water
- Sewer
PROPERTY TAXES
| Parcel Number | 214600-0050 | Improvements Assessment | $18,150,893 CAD |
| Land Assessment | $13,196,185 CAD | Total Assessment | $31,347,078 CAD |
PROPERTY TAXES
Parcel Number
214600-0050
Land Assessment
$13,196,185 CAD
Improvements Assessment
$18,150,893 CAD
Total Assessment
$31,347,078 CAD
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