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Property profile & analytics
OFF-MARKET
Estimated value
$14,540,000
Distribution centers
21086 24th S Ave Seatac, WA 98198-5500
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-1664910
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
122,710 SF
Lot
6.64 ac (289,121 SF)
Zoning code
RBX
APN
092204-9059
UPID
US90-1664910
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.54M
Owner & transaction history
Pldab LLC · 17 yrs held
Pldab LLC
since 2009
5 recorded transactions
Zoning & alternative use
RBX · Seatac, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to provide a higher intensity commercial zone providing areas for the compatible development of heavy commercial uses such as warehouse/distribution, light assembly and service commercial in tandem with people intensive commercial uses, such as office and related retail uses, It is a transitional zone between industrial areas and…
Zone name
Regional Business Mix
General category
MIXED_USE
Zone area
131.73 ac
Source
Realmo
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 Seatac submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seatac 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
$118 / 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
$245,590
Tax year 2022
Assessed value
$22,461,300
Assessed 2022
Previous assessed
$22,461,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$7,517,100
Assessed improvement
$14,944,200
Land market value
$7,517,100
Improvement market value
$14,944,200
Total market value
$22,461,300
Applied tax rate
2,231.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
122,710 SF
Lot
6.64 ac (289,121 SF)
Zoning code
RBX
APN
092204-9059
UPID
US90-1664910
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RBX · Seatac, WAZoning RBX · permitted uses
RBX · Seatac, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to provide a higher intensity commercial zone providing areas for the compatible development of heavy commercial uses such as warehouse/distribution, light assembly and service commercial in tandem with people intensive commercial uses, such as office and related retail uses, It is a transitional zone between industrial areas and less intensive commercial, mixed use or residential zones, The regional business mix zone implements the Comprehensive Plan’s regional business mix land use designation
Zone name
Regional Business Mix
General category
MIXED_USE
Zone area
131.73 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
6.64 ac
Current owner
From public records · entity-resolved
Pldab LLC
Entity
Mailing address
1800 WAZEE ST, DENVER, CO 80202-1577
Ownership since
2009
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
Jun 18, 2009
—
Pldab LLC
Prologis
Quit Claim Deed
related
—
Mar 18, 2009
—
Des Moines City
Owner,record
Grant Deed
related
—
Apr 2, 2007
$9,750,000
Prologis
Christian Faith Center
Warranty Deed
—
—
—
Christian Faith Center
—
Deed Of Trust
related
$1,500,000 · Evangelical Christian Cu
—
—
Christian Faith Center
—
Deed Of Trust
related
$417,100 · Evangelical Christian Cu
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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