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Property profile & analytics
OFF-MARKET
Estimated value
$13,960,000
Hospitals
17700 272nd St Kent, WA 98042-4951
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-0742807
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1993
Construction
CONCRETE
Total area
111,419 SF
Lot
13.05 ac (568,581 SF)
Zoning code
MC
APN
252205-9131
UPID
US90-0742807
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
Current use
Occupant on record · Public records
-
Cecchettini Pavilion Hospital
-
MultiCare Audiology Covington Hospital
-
Laboratories Northwest Medical Laboratory
-
Sarah E. Jensen, OT Physician
-
Dykes Jefferson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.96M
Owner & transaction history
City Of Covington · 6 yrs held
City Of Covington
since 2020
6 recorded transactions
Zoning & alternative use
MC · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Kent submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kent 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$125 / 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
$137,630
Tax year 2022
Assessed value
$2,748,900
Assessed 2022
Previous assessed
$2,748,900
+0.0% YoY
Effective rate
5.01%
On assessed value
Assessed land
$290,100
Assessed improvement
$2,458,800
Land market value
$290,100
Improvement market value
$2,458,800
Total market value
$2,748,900
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1993
Construction
CONCRETE
Heating
CENTRAL
Buildings
4
Stories
4
Total area
111,419 SF
Lot
13.05 ac (568,581 SF)
Zoning code
MC
APN
252205-9131
UPID
US90-0742807
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MC · Kent, WA
Zoning MC · permitted uses
MC · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kent. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Construction
CONCRETE
Heating
CENTRAL
Stories
4
Buildings
4
Lot
13.05 ac
Current owner
From public records · entity-resolved
City Of Covington
Entity
Free & Clear · 6 yrs held
Mailing address
16720 SE 271ST ST, COVINGTON, WA 98042-7342
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2020
—
City Of Covington
Multicare Health System
Warranty Deed
—
May 20, 2008
—
City Of Covington
Multicare Health System
Warranty Deed
—
Feb 9, 2005
—
City Of Covington
Multicare Health System
Warranty Deed
—
Mar 10, 1999
$20,593,500
Multicare Health System
Covington Medical Center Partn
Grant Deed
—
Oct 29, 1990
$2,375,000
Multicare,health System
Hammer,kenneth S
Grant Deed
—
Jul 13, 1989
$85,890
Washington State Dept
Hammer
Grant Deed
—
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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