17615 272nd St Covington, WA 98042-4957
Entity Owned
Absentee Owner
~
Est. High Equity
Estimated value (blended)
$3.02M
Range $2.71M – $3.32M (±10%)
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
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
since 2026
Last sale
$4.1M
4 recorded transactions
Zoning & alternative use
MC · Covington, WA
Zoning description
(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 an…
General category
COMMERCIAL
Top alternative use upside
Medical building
$4.5M
+14.3%
Retail stores
$4.5M
+13.5%
Industrial (general)
$4.4M
+10.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.02M
Value range
$2.71M – $3.32M
±10% around blend
Estimated value / SF
$263 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
50
$2.71M
blend $3.02M
$3.32M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,484 SF
Lot area
0.97 ac
Year built
1989
Stories
1
APN
362205-9064
Assessed value
$2,836,500
Annual tax
$36,170
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.75M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.97M
@ 6.5% CAP return
$2.75M
@ 7% CAP return
$2.55M
4
Sales comparison
Partial preview
Sales approach indication
$3.58M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
20.9 mi away · 11,660 SF
24.4 mi away · 8,160 SF
27.1 mi away · 9,435 SF
28.5 mi away · 9,178 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.02M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 36 sales
$346
-24%
County 433 sales
$510
-48%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $263/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+14%
vs current-use indication
Retail Stores
Industrial (general)
Apartment House (5+ Units)
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.10M
Move the market yield to see immediate price impact.
Value / SF
$357
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$258k
$5.17M
$3.69M
$2.87M
$287k
$5.74M
$4.10M
$3.19M
$316k
$6.31M
$4.51M
$3.51M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$1.90M
9.2 mi · Jan 2026 · $172/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, WAZoning MC · permitted uses
MC · Covington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
(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 an…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.97 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MC
COMMERCIAL
Jurisdiction
Covington, WA
Recorded code
MC
Official district
MC
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MC in Covington, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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