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    10231 240th St Kent, WA 98031-4895
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    Property profile & analytics

    10231 240th St Kent, WA 98031-4895

    View on Map
    • Banks
    • 5,234 SF
    • 0.98 lot acres
    Off-Market
    Last Sale Jun 11, 2025
    $33,072
    Property ID
    US90-2973311
    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.
    Value Estimations
    $2,415,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U.S. Bank ATM - Kent East Hill / Atm
    • U.S. Bank Branch / Bank / Loan Service
    • U.S. Bank ATM / Atm
    • US Bank Mortgage / Loan Service / Bank

    Property Details for 10231 240th St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.98 lot acres
    Property size
    5,234 SF
    Zone code
    CC
    Property type
    Banks
    APN
    172205-9283
    APU
    1722059283

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,585,000
      ML approach
      $2,585,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,086,000
      Market price range: $1.24M - $4.33M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $2,540,000
      Current use
      RESTAURANT
      $2,775,000
      Change: +9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,405,000
      Change: -5% Conversion: Difficult
      MEDICAL BUILDING
      $2,065,000
      Change: -19% Conversion: Difficult
      RETAIL STORES
      $2,055,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.203
    Latitude
    47.3875
    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
    2024
    $13,669
    $1,023,800
    $188,000
    $1,211,800
    -
    $1,023,800
    $188,000
    $1,211,800

    Comparable in this City

    • Value Estimation by Request
      4,023 SF

      23630 104th SE Ave

      FINANCIAL BUILDING • 4,023 SF
      23630 104th SE Ave, Kent, WA 98031-3316
      View Details
    • Value Estimation
      $2,765,000
      23,380 SF

      20632 108th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 23,380 SF
      20632 108th SE Ave, Kent, WA 98031-1536
      View Details
    • Value Estimation
      $730,000
      46,271 SF

      20652 108th SE Ave

      GYM, HEALTH SPA • 46,271 SF
      20652 108th SE Ave, Kent, WA 98031
      View Details
    • Value Estimation by Request
      875 SF

      13122 240th St

      CONVENIENCE STORE • 875 SF
      13122 240th St, Kent, WA 98031-5001
      View Details
    • Value Estimation by Request
      1,056 SF

      23853 104th SE Ave

      CONVENIENCE STORE • 1,056 SF
      23853 104th SE Ave, Kent, WA 98031
      View Details
    • Value Estimation by Request
      825 SF

      20855 108th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 825 SF
      20855 108th SE Ave, Kent, WA 98031-2176
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      175,226 SF

      Kent Retail Redevelopment Opportunity

      Former Fred Meyer on 12.77 acres for sale.
      10201 SE 240Th St, Kent, WA 98031
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    • Contact for pricing
      14,368 SF

      Kent Industrial Buildings For Sale

      Four buildings suitable for manufacturing, distribution, office, and storage.
      8825-8835 S 228Th St, Kent, WA 98031
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    • Contact for pricing

      Kent Developable Land For Sale

      3.4-acre developable property in Kent's East Hill community.
      22315 108Th Ave Southeast, Kent, WA 98031
      View Details
    • Contact for pricing

      Kent Land Development Opportunity

      3.4-acre developable property in Kent's East Hill community.
      22315 108Th Ave SE, Kent, WA 98031
      View Details
    • Contact for pricing

      Vacant Land Near Highway Access

      Land parcel near shopping, restaurants, parks, and schools.
      Se 208Th St, Kent, WA 98031
      View Details
    • $2,125,000

      Kent Land For Sale

      Land available for purchase in Kent, Washington.
      10056 SE 240Th St, Kent, WA 98031
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,463 SF

      Retail Space with Ample Parking

      End-cap retail space with high visibility and easy access.
      10415 SE 240Th St, Kent, WA 98031
      View Details
    • Contact for pricing
      3,797 SF

      Retail Space in Orchard Plaza

      4,250 SF retail space in high-traffic Orchard Plaza.
      20930-20950 108Th Ave SE, Kent, WA 98031
      View Details
    • $20 SF/Yr

      Kent Retail Space For Lease

      Retail space for lease in high-traffic Kent location.
      21022 108Th Ave SE, Kent, WA 98031
      View Details
    • Contact for pricing
      25,230 SF

      Kent Retail Space Available

      Retail space available for rent in Kent, Washington.
      20540-20632 108Th Ave SE, Kent, WA 98031
      View Details
    • Contact for pricing

      Flexible Warehousing and Office Space

      Adaptable spaces for warehousing, parking, office, and events.
      20024 85Th Ave S, Kent, WA 98031
      View Details
    • Contact for pricing

      Kent Retail Space For Lease

      Retail space available for lease in Kent, Washington.
      20600 108Th Ave SE, Kent, WA 98031
      View Details
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    Kent, WA 98031-4895
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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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