Renton, Washington, is an attractive location for commercial real estate investors seeking a diverse range of opportunities. With a population of over 100,000, Renton offers a strong economy, excellent infrastructure, and a strategic location near Seattle. Commercial real estate in Renton can represent a variety of investments, including office spaces, retail centers, and industrial properties, each with its unique benefits and potential for growth. The city's amenities, such as the Providence Health System administrative offices, the Renton Public Library, and Liberty Park, make it an attractive location for businesses and residents alike. Additionally, Renton's geography, with its proximity to Lake Washington and the Cedar River, provides a unique setting that can enhance the value of commercial properties. As a result, Renton is an excellent place to invest in commercial real estate, with its strong economy, excellent infrastructure, and desirable location.
Renton's commercial real estate market offers a range of opportunities, with 28 listings currently available. The average price per square foot is $451 USD, and the average size of these properties is 80,723 square feet, with the largest property spanning 328,637 square feet. The average cap rate is 6.15%. In addition to commercial properties, Renton is also home to industrial properties, such as the Boeing Renton Factory, which produces the 737 airliner. Apartment buildings, like those found in The Landing development, offer another investment opportunity. Office properties, such as those in Downtown Renton, are also available, as are hotels like the Hyatt Regency at Southport. With its diverse economy and range of commercial properties, Renton is an attractive location for investors seeking to diversify their portfolios.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Renton, Washington, there are several alternatives to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for eligible small businesses;
- Alternative lenders and private money loans, which may offer more flexible terms and faster approval processes, but often come with higher interest rates and fees.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Renton, Washington, cap rates play a crucial role in evaluating the potential return on investment. With an average cap rate of 6.15%, investors can gauge the property's income-generating potential, making it a vital factor in determining the feasibility of a commercial real estate purchase.
For a more in-depth understanding of cap rates and their significance in commercial real estate investing, it's essential to know what is a cap rate and how it's calculated. In Renton, where there are currently 28 available listings of commercial real estate, a thorough understanding of cap rates can help investors make informed decisions and maximize their returns.
What is considered a commercial property?
In Renton, Washington, a commercial property is typically considered any property used for business or commercial purposes, such as office buildings, retail spaces, warehouses, restaurants, and hotels, which can be found in areas like Downtown Renton, The Landing, and Southport.
With 28 available listings of Commercial Real Estate in Renton, investors and business owners can find opportunities to own or lease properties with average prices per square foot of $451 USD, average sizes of 80,723 square feet, and cap rates of 6.15%, making Renton an attractive location for commercial investment and development.
