Updated May 12, 2025
Steel Peak Acquires Mixed-Use Property In Kent WA For $5.65 Million From Fields Roof Service
25924 78th Avenue South
$5,650,000
$692/SF
Building Size
8,160 SF
Asset Type
Mixed-use
Closing
Apr 28, 2025
About this deal
AI
The asset involved in the transaction is a mixed-use property located at 25924 78th Avenue South in Kent, WA. It was sold for $5,650,000 and has a total square footage of 8,160, resulting in a price per square foot of $692.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,650,000
- Buyer: Steel Peak
- Seller: Fields Roof Service
- Brokers: Jim Honan & Nicholas Ratzke - Neil Walter
In this transaction, Steel Peak notably acquired an industrial outdoor storage property, expanding their portfolio to six properties and marking their first IOS purchase outside California. The company specializes in investments in various real estate sectors, while Fields Roof Service completed the sale through their representatives.
On the Map
$5,650,000
$692/SF
Mixed-use
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Players
Kent Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93