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Property profile & analytics
OFF-MARKET
Estimated value
$3,015,000
Commercial real estate
17615 272nd St Covington, WA 98042-4957
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-1245488
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1989
Construction
FRAME
Total area
11,484 SF
Lot
0.97 ac (42,070 SF)
Zoning code
MC
APN
362205-9064
UPID
US90-1245488
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
$2.75M
Comparable Approach
Comparable
$3.07M
Blend (final)
Blend
$3.02M
Owner & transaction history
Covington 272 Properties LLC
Covington 272 Properties LLC
since 2026
Last sale
$4.1M
4 recorded transactions
Zoning & alternative use
MC · Covington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.5M
+14.3%
Retail stores
$4.5M
+13.5%
Industrial (general)
$4.4M
+10.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,970,000
6.5%
$2,745,000
7%
$2,545,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,970,000
Current use
MEDICAL BUILDING
$4,535,000
Change: +14% · Conversion: Easy
RETAIL STORES
$4,505,000
Change: +14% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,380,000
Change: +10% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,980,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$3.02M
Range $2.71M – $3.32M · ±10% · vs last sale $4.10M (Jan 28 2026)
Last sale anchor
$4.10M
Jan 28 2026
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
$263 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$36,170
Tax year 2024
Assessed value
$2,836,500
Assessed 2023
Previous assessed
$2,836,500
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$1,051,700
Assessed improvement
$1,784,800
Land market value
$1,051,700
Improvement market value
$1,784,800
Total market value
$2,836,500
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1989
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
11,484 SF
Lot
0.97 ac (42,070 SF)
Zoning code
MC
APN
362205-9064
UPID
US90-1245488
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
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$4.5M
RETAIL STORES
Est. value
$4.5M
INDUSTRIAL (GENERAL)
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Covington 272 Properties LLC
Entity
Mailing address
12205 16TH AVE SE, RENTON, WA 98059
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2026
$4,100,000
Covington 272 Properties LLC
Covington Plaza LLP
Warranty Deed
$2,200,000 · Timberland Bank
Jun 9, 1988
—
Plaza Covington
Solly,bruce W $n
Quit Claim Deed
related
—
—
—
Plaza Covington
—
Deed Of Trust
related
$1,025,000 · Frontier Bank
—
—
Plaza Covington
—
Deed Of Trust
related
$1,025,000 · Frontier Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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