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    15843 256th St Covington, WA 98042-4118
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    Property profile & analytics

    15843 256th St, Covington, WA 98042-4118

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    • Assisted living facilities
    • 7,408 SF
    • 0.53 lot acres
    Off-Market
    Property ID
    US90-2975964
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Assisted living facilities

    Property Details for 15843 256th St

    Year built
    1989
    Construction
    WOOD
    Lot size
    0.53 lot acres
    Zone code
    R6
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    151591-0210
    APU
    1515910210

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 25, 2023 — P & S Real Estate LLC — Deed · related $2.5M · Celtic Bank Corporation
    Nov 13, 2019 $1,600,000 P&s Real Estate LLC Michael E Lewis Warranty Deed $2.2M · Umpqua Bank
    Dec 2, 2005 $580,000 Michael E Lewis Susanne T Robertson Warranty Deed $464k · Americas Wholesale Lender
    Apr 11, 1996 — Lana L Schulz Dalas,lana L Quit Claim Deed · related $185k · Preferred Funding
    — — Lana L Schulz — Deed Of Trust · related $70k · Preferred Funding
    — — Susanne T Robertson — Deed Of Trust · related $14k · Paul F Orzechowski
    — — Suzanne Robertson — Deed Of Trust · related $275k · Olympic Coast Investment INC
    — — Scott W Robertson — Deed Of Trust · related $30k · Robert W Hoss Ira
    — — Scott W Robertson — Deed Of Trust · related $238k · Olympic Coast Investment INC
    — — Scott W Robertson — Deed Of Trust · related $100k · John J Greaney
    — — Susanne T Robertson — Deed Of Trust · related $9k · Preferred Funding
    — — Lana L Dalas — Deed Of Trust · related $176k · Amresco Residential Mtg Corp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    King
    State
    Washington
    Longitude
    -122.129
    Latitude
    47.372
    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
    $16,333
    $157,300
    $1,326,500
    $1,483,800
    -
    $157,300
    $1,326,500
    $1,483,800

    Comparable in this City

    • Value Estimation
      $810,000
      29,045 SF

      15101 272nd St

      HOMES (RETIRED, NURSING)
      15101 272nd St, Kent, WA 98042-4305
      View Details
    • Value Estimation
      $4,070,000
      17,975 SF

      27005 168th SE Pl

      MEDICAL BUILDING
      27005 168th SE Pl, Covington, WA 98042-4902
      View Details
    • Value Estimation
      $1,485,000
      6,456 SF

      17224 272nd St

      DENTAL BUILDING
      17224 272nd St, Covington, WA 98042-4953
      View Details
    • Value Estimation
      $1,635,000
      8,160 SF

      27015 169th SE Pl

      DENTAL BUILDING
      27015 169th SE Pl, Covington, WA 98042-5574
      View Details
    • Value Estimation
      $5,230,000
      21,400 SF

      16850 272nd St

      MEDICAL BUILDING
      16850 272nd St, Covington, WA 98042-4931
      View Details
    • Value Estimation
      $2,095,000
      9,080 SF

      16400 256th St

      DENTAL BUILDING
      16400 256th St, Kent, WA 98042
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Covington Industrial Land for Sale

      19.74 acres near Highway 18, South King County.
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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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      20,568 SF

      Professional Office Land Available

      Land with permits imminent, adjacent to Walmart entrance.
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      Covington Industrial Land for Development

      19.74 acres near Highway 18, South King County.
      27631 Covington Way SE, Covington, WA 98042
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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

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,500 square feet.
      16717 Se 272Nd St, Covington, WA 98042
      View Details
    • 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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      36,900 SF

      Land Near Trader Joe's

      Undeveloped land suitable for retail uses near Trader Joe's.
      27006 132Nd Ave SE, Kent, WA 98042
      View Details
    • Contact for pricing
      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

      Covington Industrial Land Opportunity

      19.74 acres of industrial land available for lease.
      27631 Covington Way SE, 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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    Covington, WA 98042-4118
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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.

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