17239 272nd St Covington, WA 98042-4900
(1) The town center district (TC) is the pedes- trian-oriented core of downtown and allows the most intensive level of development. The emphasis of this district is on mixed-use development that includes pedestrian-orien ted retail, high density residential development, and civic uses. The devel- opment of a walkable street grid and a central pub- lic gather…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
TC · Covington, WA(1) The town center district (TC) is the pedes- trian-oriented core of downtown and allows the most intensive level of development. The emphasis of this district is on mixed-use development that includes pedestrian-orien ted retail, high density residential development, and civic uses. The devel- opment of a walkable street grid and a central pub- lic gathering space are key objectives of this district. To meet goals for a pedestrian-oriented town center, limited large-format retail uses are permitted, and such uses are subject to a condi- tional use permit and additional design criteria pro- vided in CMC 18.31.040. (2) The mixed commercial district (MC) is applied to the majority of the Covington downtown zone. This district encourages a mix of commercial and multi-story residential uses, public uses, and allows for large-format and auto-oriented retail, provided they meet pedestrian-oriented design standards that are more flexible than those applied to the town center district. Achieving a high level of connectivity with new and improved streets and trails is a major goal in this district. (3) The general commercial district (GC) is applied to a limited area of the downtown and is intended to allow the widest range of uses, coupled with more limited design standards than other areas of downtown. Permitted uses include commercial and light industrial uses, offices, major transporta- tion and utility facilities, and residential uses that are appropriately buffered to ensure compatibility. Development and design standards are less pre- scriptive and provide greater flexibility to accom- modate the intended uses. (4) The mixed housing/o ffice district (MHO) is applied to areas where infill development and rede- velopment of low intensity areas with multifamily housing and office is encouraged. Residential uses Covington Municipal Code 18.15.140 18-9 (Revised 12/14) that are encouraged in this district include town- houses, cottages, and lo w-rise multifamily. Office development and limited intensity neighborhood retail is also permitted. Development and design standards applied to this district require buffers, lower height limits and building scale that is appro- priate to the size of the lot. Trail connections are also emphasized in this district. (Ord. 10-10 § 3 (Exh. C); Ord. 42-02 § 2 (21A.04.100)) 18.15.090 Regional commercial mixed-use zone. (1) The purpose of the regional commercial
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.