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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1006 Meeker St Kent, WA 98032-5716

    • Office buildings
    • 3,935 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2020
    $620,000
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0108027
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Taylor Law Firm / Law Firm
    • BNF Roofing / Roofing Company / General Contractor
    • Endres Law Firm / Law Firm

    Property Details for 1006 Meeker St

    Year built
    1905
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    3,935 SF
    Zone code
    DCE
    Property type
    Office buildings
    APN
    242204-9121
    APU
    2422049121

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $625,000
      ML approach
      $650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $853,000
      Market price range: $853k - $1.57M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,025,000
      Current use
      WAREHOUSE, STORAGE
      $940,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.244
    Latitude
    47.3811
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,920
    $201,900
    $430,300
    $632,200
    -
    $201,900
    $430,300
    $632,200

    Comparable in this City

    • Value Estimation
      $4,165,000
      13,070 SF

      1311 Central S Ave

      OFFICE BUILDING • 13,070 SF
      1311 Central S Ave, Kent, WA 98032-7408
      View Details
    • Value Estimation
      $5,425,000
      33,336 SF

      23835 Pacific S Hwy

      OFFICE BUILDING • 33,336 SF
      23835 Pacific S Hwy, Kent, WA 98032-2709
      View Details
    • Value Estimation
      $695,000
      3,500 SF

      1229 Smith St

      OFFICE BUILDING • 3,500 SF
      1229 Smith St, Kent, WA 98032-4317
      View Details
    • Value Estimation
      $1,590,000
      4,993 SF

      7414 206th St

      OFFICE BUILDING • 4,993 SF
      7414 206th St, Kent, WA 98032-1357
      View Details
    • Value Estimation by Request
      1,000 SF

      8045 228th St

      OFFICE BUILDING • 1,000 SF
      8045 228th St, Kent, WA 98032
      View Details
    • Value Estimation
      $6,075,000
      30,537 SF

      124 4th S Ave

      OFFICE BUILDING • 30,537 SF
      124 4th S Ave, Kent, WA 98032-5874
      View Details

    Similar Nearby for Sale

    • $1,975,000
      9,300 SF

      Kent Professional Building For Sale

      Two-story Kent office building near Kent Station and Sound Transit.
      610 West Meeker St, Kent, WA 98032
      View Details
    • Contact for pricing
      35,550 SF

      Class A Office Building

      Class A office building in a prime Kent Valley location.
      6703 S 234Th St, Kent, WA 98032
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    • $2,205,000
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      Prime Downtown Kent Location

      Versatile property in the heart of Kent, WA.
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    • $6,685,725

      Kent Office Space Available

      Office property for sale in Kent, Washington.
      555-655 W Smith St, Kent, WA 98032
      View Details
    • Contact for pricing
      99,088 SF

      Secured Storage Yard with Office

      Large, fenced, and graveled storage yard with immediate I-5 access.
      23612 Military Rd S, Kent, WA 98032
      View Details
    • Contact for pricing
      62,500 SF

      Kent Industrial Buildings For Sale

      Multiple industrial buildings totaling 62,504 SF on 225,918 SF land.
      1862 Ives Ave, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      101,347 SF

      Southcenter Area Office Building

      Class B office building with excellent access and amenities.
      18000 72Nd Ave S, Kent, WA 98032
      View Details
    • Contact for pricing
      6,934 SF

      Kent Office Space For Rent

      Office space available for rent in Kent, Washington.
      19033 68Th Ave South, Kent, WA 98032
      View Details
    • $1,495,000
      5,000 SF

      Downtown Kent Warehouse/Office Space

      5000 SF office, manufacturing, warehouse space in downtown Kent.
      704 W Meeker St, Kent, WA 98032
      View Details
    • $11 SF/Yr
      226,836 SF

      Kent Office Space Sublease

      Office space in Kent with easy I-5 access.
      20415 72Nd Ave S, Kent, WA 98032
      View Details
    • $27 SF/Yr
      1,498 SF

      Kent Medical/Dental Office Space

      Medical/Dental office space in Kent with easy highway access.
      27115 Military Rd S, Kent, WA 98032
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    • $2 SF/Yr
      505 SF

      Kent Office Space For Rent

      High-quality business park with flexible floor plans and growth options.
      6617 S 193Rd St, Kent, WA 98032
      View Details
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    1006 Meeker St
    Kent, WA 98032-5716
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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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