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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Grocery and convenience stores
16255 256th St, Covington, WA 98042-4120
Entity Owned
18-yr Hold
Free & Clear
Property ID
US90-0730829
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,182 SF
Lot
2.28 ac (99,372 SF)
Zoning code
CC
APN
262205-9027
UPID
US90-0730829
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
$405k
CAP Approach
CAP
$810k
Comparable Approach
Comparable
$529k
Blend (final)
Blend
$580k
Owner & transaction history
Foss Village LLC · 18 yrs held
Foss Village LLC
since 2008
3 recorded transactions
Zoning & alternative use
CC · Covington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$460,000
+306.1%
Auto repair, garage
$420,000
+272.9%
Commercial (general)
$380,000
+237.0%
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 Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington 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
$405,000
CAP Approach
CAP Return
Estimation
6%
$880,000
6.5%
$810,000
7%
$755,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$460,000
Change: +306% · Conversion: Moderate
AUTO REPAIR, GARAGE
$420,000
Change: +273% · Conversion: Difficult
COMMERCIAL (GENERAL)
$380,000
Change: +237% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$182 / 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
$16,567
Tax year 2022
Assessed value
$1,215,100
Assessed 2022
Previous assessed
$1,215,100
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$1,043,400
Assessed improvement
$171,700
Land market value
$1,043,400
Improvement market value
$171,700
Total market value
$1,215,100
Applied tax rate
1,064.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
3
Stories
1
Total area
3,182 SF
Lot
2.28 ac (99,372 SF)
Zoning code
CC
APN
262205-9027
UPID
US90-0730829
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CC · Covington, WA
Zoning CC · permitted uses
CC · Covington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$460,000
AUTO REPAIR, GARAGE
Est. value
$420,000
COMMERCIAL (GENERAL)
Est. value
$380,000
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
3
Lot
2.28 ac
Current owner
From public records · entity-resolved
Foss Village LLC
Entity
Free & Clear · 18 yrs held
Mailing address
16255 SE 256TH ST, COVINGTON, WA 98042-4120
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2008
—
Foss Village LLC
Foss,sonia G
Quit Claim Deed
related
—
Feb 17, 2006
—
City Of Covington
Foss,sonia
Warranty Deed
—
May 21, 1996
—
Sonia G Foss
Arthur L Foss Estate
Quit Claim Deed
related
$250,000 · Seller
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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