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Property profile & analytics
OFF-MARKET
Estimated value
$12,250,000
Warehouses
19615 Russell Rd Kent, WA 98032-1115
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1071223
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,779 SF
Lot
2.37 ac (103,398 SF)
Zoning code
I2
APN
788880-0580
UPID
US90-1071223
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
-
Fiserv Advertising Agency Marketing & Advertising
-
QA Group Production Facility Factory
-
ITI Loan Coupon Book Program Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.48M
CAP Approach
CAP
$8.16M
Comparable Approach
Comparable
$11.91M
Blend (final)
Blend
$12.25M
Owner & transaction history
Lit Industrial Limited Partnership · 4 yrs held
Lit Industrial Limited Partnership
since 2022
Last sale
$15.6M
5 recorded transactions
Zoning & alternative use
I2 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$19.9M
+82.0%
Medical building
$18.1M
+65.1%
Retail stores
$18.0M
+63.9%
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
Method
Estimation
Statistic approach
$13,850,000
ML approach
$8,480,000
CAP Approach
CAP Return
Estimation
6%
$8,835,000
6.5%
$8,155,000
7%
$7,570,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,955,000
Current use
AUTO REPAIR, GARAGE
$19,935,000
Change: +82% · Conversion: Easy
MEDICAL BUILDING
$18,085,000
Change: +65% · Conversion: Difficult
RETAIL STORES
$17,960,000
Change: +64% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$17,460,000
Change: +59% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$15,870,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,105,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$12.25M
Range $11.03M – $13.48M · ±10% · vs last sale $15.55M (Apr 19 2022)
Last sale anchor
$15.55M
Apr 19 2022
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
$268 / 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
$90,705
Tax year 2022
Assessed value
$8,306,800
Assessed 2022
Previous assessed
$8,306,800
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,404,000
Assessed improvement
$5,902,800
Land market value
$2,404,000
Improvement market value
$5,902,800
Total market value
$8,306,800
Applied tax rate
1,526.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
45,779 SF
Lot
2.37 ac (103,398 SF)
Zoning code
I2
APN
788880-0580
UPID
US90-1071223
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Kent, WA
Zoning I2 · permitted uses
I2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$11.0M
AUTO REPAIR, GARAGE
Est. value
$19.9M
MEDICAL BUILDING
Est. value
$18.1M
RETAIL STORES
Est. value
$18.0M
INDUSTRIAL (GENERAL)
Est. value
$17.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.9M
COMMERCIAL (GENERAL)
Est. value
$14.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
2.37 ac
Current owner
From public records · entity-resolved
Lit Industrial Limited Partnership
Entity
Free & Clear · 4 yrs held
Mailing address
1717 MCKINNEY AVE STE #1900, DALLAS, TX 75202-1253
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2022
$15,550,000
Lit Industrial Limited Partnership
Kof Enterprises LLC
Bargain And Sale Deed
—
Mar 30, 2018
$8,282,000
Kof Ents LLC
Bck Dev LLC
Warranty Deed
$5,500,000 · Keybank USA
Jan 14, 2009
—
Bck Dev LLC
Kranak,bruce R & Carol A
Quit Claim Deed
related
—
May 4, 1998
$15,500
Kent City (wa)
Kranak,bruce R & Carol A
Quit Claim Deed
related
—
Mar 1, 1991
$471,942
Bruce R Kranak
Upland Industria
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.
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