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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Individual retail properties
16913 270th Pl Covington, WA 98042-5414
Entity Owned
19-yr Hold
Free & Clear
Property ID
US90-1483721
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,190 SF
Lot
3.67 ac (159,940 SF)
Zoning code
MC
APN
252205-9259
UPID
US90-1483721
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
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$923k
Blend (final)
Blend
$810k
Owner & transaction history
City Of Covington · 19 yrs held
City Of Covington
since 2007
7 recorded transactions
Zoning & alternative use
MC · Covington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$870,000
+67.2%
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
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$520,000
Current use
RETAIL STORES
$870,000
Change: +67% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$50 / 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
$157,205
Tax year 2022
Assessed value
$13,541,400
Assessed 2022
Previous assessed
$13,541,400
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$3,998,500
Assessed improvement
$9,542,900
Land market value
$3,998,500
Improvement market value
$9,542,900
Total market value
$13,541,400
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Buildings
4
Stories
1
Total area
16,190 SF
Lot
3.67 ac (159,940 SF)
Zoning code
MC
APN
252205-9259
UPID
US90-1483721
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MC · Covington, WA
Zoning MC · permitted uses
MC · 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
GYM, HEALTH SPA Current
Est. value
$520,000
RETAIL STORES
Est. value
$870,000
GYM, HEALTH SPA Current
RETAIL STORES
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Stories
1
Buildings
4
Lot
3.67 ac
Current owner
From public records · entity-resolved
City Of Covington
Entity
Free & Clear · 19 yrs held
Mailing address
1457 130TH AVE NE, BELLEVUE, WA 98005-2253
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2026
—
E & M Covington LLC
—
Deed
related
$50,000,000 · Wafd INC
May 12, 2011
—
Apple Washington LLC
—
Deed Of Trust
related
$320,000,000 · Bank Of America
May 15, 2007
—
City Of Covington
Covington Commercial II LLC
Quit Claim Deed
related
—
Jun 3, 2005
—
E & M Covington LLC
Covington Commercial LLC
Quit Claim Deed
related
$10,300,000 · Morgan Stanley Mtg Capital INC
May 27, 2005
—
Apple Washington LLC
—
Deed Of Trust
related
$143,120,000 · Bank Of America
Apr 5, 2005
—
City Of Covington
Covington Prof Plaza LLC
Quit Claim Deed
related
—
Jan 29, 2004
$163,800
Covington Commercial LLC
—
Grant Deed
related
—
Jan 24, 2002
—
Covington Apartments LLC
—
Trustees Deed
related
$14,250,000 · Us Bank NA
Oct 7, 1999
—
Rawland F Taplett
—
Deed Of Trust
related
$1,500,000 · Us Bank
Jun 18, 1999
—
Professional Plaza Covington
—
Deed Of Trust
related
$1,087,500 · Cascade Bank
Sep 28, 1998
—
R F Tapplet Fruit
—
Deed Of Trust
related
$2,000,000 · Centrum Financial Services INC
Nov 2, 1995
—
Rawland F Taplett
Taplett,rawland F
Quit Claim Deed
related
$250,000 · Performance Funding INC
—
—
Rawland F Taplett
—
Deed Of Trust
related
$420,000 · Washington Trust Bank
—
—
Covington Commercial LLC
—
Deed Of Trust
related
$400,000 · Base Capital LLC
—
—
Covington Commercial II LLC
—
Deed Of Trust
related
$14,240,000 · Us Bank NA
—
—
Covington Commercial LLC
—
Deed Of Trust
related
$450,000 · Base Capital LLC
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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