Shopping Strip
4th Street Plaza
3904 NE 4th St, Renton, WA 98056
Listing Price: $3,150,000
Investment Overview
The Vara Group is pleased to present the opportunity to acquire 4th Street Plaza, a fully leased, multi-tenant retail strip center located along NE 4th Street in Renton, Washington. All 5 tenants operate under NNN lease structures, limiting landlord obligations and offering a hedge against inflation through scheduled annual increases. Excellent signage and visibility to over 30,500 vehicles per day support the property’s strong historical occupancy, with the average length of occupancy being 17 years and no tenant having occupied the property for less than 10 years. Staggered lease expirations create near-term potential to unlock additional value, with average in-place rents currently 24.8% below market.
4th Street Plaza
Investment Highlights
- High Visibility: Strategically positioned along a heavily traveled retail corridor, the property offers excellent signage exposure to over 30,500 vehicles per day.
- Exceptional Demographics: More than 222,000 residents live within a 5-mile radius, with a median household income of $126,373—66% above the national average.
- Significant Rental Upside & NNN Leases:Market rents in the Renton/Tukwila submarket exceed current in-place rates by over 24.8%, creating upside potential as leases roll over in a staggered schedule.
- Strong Historical Occupancy: The property boasts long-term tenancy, with 60% of occupants in place for over 20 years and no turnover in nearly a decade.
- High Barrier to Entry: Strip centers comprise only 6.5% of total retail inventory in the Renton/Tukwila submarket, with no new retail construction underway as of mid-2025.
- Exceptionally Strong Submarket Fundamentals: The Renton, WA retail market boasts a notably low vacancy rate at just 4.8%, with the NE 4th St Corridor even tighter at 1.7%, highlighting limited competitive options for tenants and strong potential for continued rent growth.
Exclusively Listed By
Financing By
Listing Price: $3,150,000
Investment Highlights
- High Visibility: Strategically positioned along a heavily traveled retail corridor, the property offers excellent signage exposure to over 30,500 vehicles per day.
- Exceptional Demographics: More than 222,000 residents live within a 5-mile radius, with a median household income of $126,373—66% above the national average.
- Significant Rental Upside & NNN Leases:Market rents in the Renton/Tukwila submarket exceed current in-place rates by over 24.8%, creating upside potential as leases roll over in a staggered schedule.
- Strong Historical Occupancy: The property boasts long-term tenancy, with 60% of occupants in place for over 20 years and no turnover in nearly a decade.
- High Barrier to Entry: Strip centers comprise only 6.5% of total retail inventory in the Renton/Tukwila submarket, with no new retail construction underway as of mid-2025.
- Exceptionally Strong Submarket Fundamentals: The Renton, WA retail market boasts a notably low vacancy rate at just 4.8%, with the NE 4th St Corridor even tighter at 1.7%, highlighting limited competitive options for tenants and strong potential for continued rent growth.
Investment Overview
The Vara Group is pleased to present the opportunity to acquire 4th Street Plaza, a fully leased, multi-tenant retail strip center located along NE 4th Street in Renton, Washington. All 5 tenants operate under NNN lease structures, limiting landlord obligations and offering a hedge against inflation through scheduled annual increases. Excellent signage and visibility to over 30,500 vehicles per day support the property’s strong historical occupancy, with the average length of occupancy being 17 years and no tenant having occupied the property for less than 10 years. Staggered lease expirations create near-term potential to unlock additional value, with average in-place rents currently 24.8% below market.
Exclusively Listed By
Financing By
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