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    15610 272Nd St Kent, WA 98042
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    15610 272Nd St, Kent, WA 98042

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    • Retail properties & Spaces
    • 8,178 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pollard Chiropractic / Alternative Medicine Practice
    • Extra Space Storage / Storage Facility
    • Pearson Chiropractic & Rehabilitation Center / Alternative Medicine Practice
    • Rebound SportsMed / Alternative Medicine Practice

    Property Details for 15610 272Nd St

    Property type
    Retail properties & Spaces

    Description

    This exceptional Kent, WA retail opportunity, located at 15610 SE 272nd St, zip code 98042, offers 6,037 square feet of immediately available space within a larger 8,178 square foot single-story building. The property is part of the Meridian South Retail Center, a mixed-use development strategically situated along busy SR-516, providing excellent connectivity to Kent, Covington, and Maple Valley. The center includes five storage buildings leased to Extra Space Storage, ensuring a stable and thriving environment. Two retail/office buildings are available, each offering drive-thru space potential. This new development is nearing completion and offers customizable spaces to meet tenant requirements. Individual spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 6,037 square feet, making it suitable for a variety of businesses. The property's prime location and flexible space options present a unique opportunity for businesses seeking high visibility and convenient access to a growing market. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.133
    Latitude
    47.3579

    Comparable in this City

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    • Value Estimation
      $2,600,000
      22,500 SF

      17709 272nd St

      SHOW ROOM, WAREHOUSE
      17709 272nd St, Kent, WA 98042-4983
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    • Value Estimation
      $2,125,000
      12,528 SF

      15220 272nd St

      COMMERCIAL (GENERAL)
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    • Value Estimation
      $15,735,000
      66,062 SF

      27339 Covington SE Way

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $1,060,000
      3,589 SF

      28401 Covington SE Way

      AUTO REPAIR, GARAGE
      28401 Covington SE Way, Kent, WA 98042-9134
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    Similar Nearby for Sale

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      Covington Industrial Land for Sale

      19.74 acres near Highway 18, South King County.
      27631 Covington Way SE, Covington, WA 98042
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      Kent Land with Development Potential

      3.82 acres of CC zoned land with development potential.
      15326 SE 272Nd St, Kent, WA 98042
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      Land in Town Center Zoning

      Land suitable for day care, office, or mixed-use development.
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      Professional Office Land Available

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      Covington Industrial Land for Development

      19.74 acres near Highway 18, South King County.
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      31,363 SF

      Ready to Build Pad Site

      Pad site near Covington Town Center development with utilities.
      SE Wax Rd, Covington, WA 98042
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    Similar Nearby for Lease

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      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,026 to 5,002 SqFt.
      17309 SE 270Th Pl, Covington, WA 98042
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      5,002 SF

      Restaurant Space with Full Buildout

      Former restaurant space with hood, bar, and mezzanine.
      17300 SE 272Nd St, Covington, WA 98042
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      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,500 square feet.
      16717 Se 272Nd St, Covington, WA 98042
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    • Contact for pricing
      1,812 SF

      New Retail Space with Drive-Thru

      New construction retail space with drive-thru option available for lease.
      15610 SE 272Nd St, Kent, WA 98042
      View Details
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      2,940 SF

      Retail Space in Covington, WA

      Retail space available for lease in Covington, Washington.
      17023 SE 272Nd St, Covington, WA 98042
      View Details
    • Contact for pricing

      Meridian South Retail Center Space

      Retail and office spaces with drive-thru availability for lease.
      15610 SE 272Nd St, Kent, WA 98042
      View Details
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    Kent, WA 98042
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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