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Property profile & analytics
FOR LEASE
Office buildings
16040 Christensen Rd Tukwila, WA 98188
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-3268585
For Lease
Contact for pricing
16040 Christensen Rd, Tukwila, WA 98188
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
WOOD
Total area
48,990 SF
Lot
2.54 ac (110,642 SF)
Zoning code
TUC-TOD
APN
252304-9039
UPID
US90-3268585
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.23M
Owner & transaction history
Talon Riverview Plaza LLC · 9 yrs held
Talon Riverview Plaza LLC
since 2016
7 recorded transactions
Zoning & alternative use
TUC-TOD · Tukwila, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The area extending from the bus transit center on Andover Park West eastward towards the Sounder commuter rail or Amtrak station is intended to provide a more compact and vibrant mix of housing, office, lodging and supportive retail and service uses
Zone name
Tukwila Urban Center Transit Oriented Development
General category
COMMERCIAL
Zone area
181.89 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tukwila submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tukwila submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$14,470,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$9.23M
Range $8.31M – $10.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$188 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$100,803
Tax year 2022
Assessed value
$8,841,300
Assessed 2022
Previous assessed
$8,841,300
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$3,983,100
Assessed improvement
$4,858,200
Land market value
$3,983,100
Improvement market value
$4,858,200
Total market value
$8,841,300
Applied tax rate
2,421.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1981
Construction
WOOD
Heating
HEAT PUMP
Stories
3
Total area
48,990 SF
Lot
2.54 ac (110,642 SF)
Zoning code
TUC-TOD
APN
252304-9039
UPID
US90-3268585
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TUC-TOD · Tukwila, WAZoning TUC-TOD · permitted uses
TUC-TOD · Tukwila, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The area extending from the bus transit center on Andover Park West eastward towards the Sounder commuter rail or Amtrak station is intended to provide a more compact and vibrant mix of housing, office, lodging and supportive retail and service uses
Zone name
Tukwila Urban Center Transit Oriented Development
General category
COMMERCIAL
Zone area
181.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$14.5M
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
WOOD
Heating
HEAT PUMP
Stories
3
Lot
2.54 ac
Current owner
From public records · entity-resolved
Talon Riverview Plaza LLC
Entity
Mailing address
929 108TH AVE NE STE #1510, BELLEVUE, WA 98004-4786
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2019
—
Talon Riverview Plaza LLC
—
Deed
related
$16,000,000 · Miscellaneous Ins Co
Sep 16, 2016
$22,150,000
Talon Riverview Plaza LLC
Brcp Riverview Plaza LLC
Grant Deed
$13,300,000 · Keybank USA
Feb 9, 2012
—
Brcp Riverview Plaza LLC
—
Deed Of Trust
related
$21,850,000 · Us Bank NA Series 2007-c30 (te
Jan 12, 2007
$27,565,599
Brcp Riverview Plaza LLC
Cb Riverview Plaza INC
Special Warranty Deed
$21,850,000 · Wachovia Bank NA
Jan 13, 1994
—
John Hancock Mutual Life Ins
Feichtmeir,mark
Quit Claim Deed
related
—
—
—
Talon Riverview Plaza LLC
—
Deed Of Trust
related
$16,000,000 · Miscellaneous Ins Co
—
—
Cb Riverview Plaza INC
—
Deed Of Trust
related
$11,650,000 · Jackson National Life Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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