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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Grocery and convenience stores
17450 272nd St, Covington, WA 98042-4949
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1012920
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1989
Construction
WOOD
Total area
2,497 SF
Lot
0.75 ac (32,663 SF)
Zoning code
MC
APN
252205-9032
UPID
US90-1012920
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
$385k
CAP Approach
CAP
$635k
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$575k
Owner & transaction history
Bp West Coast Products LLC · 9 yrs held
Bp West Coast Products LLC
since 2016
7 recorded transactions
Zoning & alternative use
MC · Covington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$360,000
+306.1%
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
$385,000
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$635,000
7%
$590,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$360,000
Change: +306% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$230 / 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
$19,671
Tax year 2022
Assessed value
$1,615,500
Assessed 2022
Previous assessed
$1,615,500
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$979,800
Assessed improvement
$635,700
Land market value
$979,800
Improvement market value
$635,700
Total market value
$1,615,500
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
1989
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Total area
2,497 SF
Lot
0.75 ac (32,663 SF)
Zoning code
MC
APN
252205-9032
UPID
US90-1012920
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
OFFICE BUILDING
Est. value
$360,000
OFFICE BUILDING
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
1989
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Bp West Coast Products LLC
Entity
Mailing address
PO BOX 3092, HOUSTON, TX 77253-3092
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
Nov 14, 2016
$3,975,000
Bp West Coast Products LLC
Harbor Olympic Land 5568 LLC
Grant Deed
—
Dec 17, 2012
—
Harbor Olympic Land 5568 LLC
—
Deed Of Trust
related
$2,400,000 · Ipc (usa) INC
Sep 23, 2009
$1,500,000
Harbor Olympic Land 5568 LLC
Bp West Coast Products LLC
Special Warranty Deed
—
Mar 12, 2009
—
Covington City Of
Bp West Coast Products LLC
Quit Claim Deed
related
—
Sep 20, 2002
—
Bp West Coast Products LLC
Atlantic Richfield Co
Grant Deed
related
—
Jan 4, 1994
$340,000
Atlantic Richfield Co
Searcy,carl M
Grant Deed
—
—
—
Harbor Olympic Land 5568 LLC
—
Deed Of Trust
related
$14,900,000 · Dragon Petrolium 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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