Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    21214 66th S Ave Kent, WA 98032-2445

    • Warehouses
    • 63,546 SF
    • 3.24 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2020
    $13,485,000
    Value Estimations
    $12,830,000
    Show details
    Cap Rate Potential
    4.8%
    Warehouses
    Location Intelligence
    Property ID
    US90-1911366
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • La-Z-Boy / Furniture & Home Goods / Home Decor Store
    • Zippy Shell of Greater Seattle / Moving Company / Storage Facility

    Property Details for 21214 66th S Ave

    Year built
    2016
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.24 lot acres
    Property size
    63,546 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    112204-9079
    APU
    1122049079

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,365,000
      ML approach
      $10,490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,260,000
      6.5%
      $11,320,000
      7%
      $10,510,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $15,205,000
      Current use
      COMMERCIAL (GENERAL)
      $19,580,000
      Change: +29% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.251
    Latitude
    47.4117
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $150,605
    $3,388,800
    $10,591,300
    $13,980,100
    -
    $3,388,800
    $10,591,300
    $13,980,100

    Comparable in this City

    • Value Estimation
      $1,420,000
      9,800 SF

      930 Central S Ave

      WAREHOUSE, STORAGE • 9,800 SF
      930 Central S Ave, Kent, WA 98032-6105
      View Details
    • Value Estimation by Request
      845 SF

      1320 Meeker St

      WAREHOUSE, STORAGE • 845 SF
      1320 Meeker St, Kent, WA 98032-4321
      View Details
    • Value Estimation
      $1,945,000
      19,216 SF

      1412 Morton St

      WAREHOUSE, STORAGE • 19,216 SF
      1412 Morton St, Kent, WA 98032-2922
      View Details
    • Value Estimation
      $5,575,000
      51,960 SF

      7979 180th St

      WAREHOUSE, STORAGE • 51,960 SF
      7979 180th St, Kent, WA 98032-1051
      View Details
    • Value Estimation
      $2,815,000
      25,200 SF

      7010 188th St

      WAREHOUSE, STORAGE • 25,200 SF
      7010 188th St, Kent, WA 98032-1055
      View Details
    • Value Estimation
      $2,110,000
      17,480 SF

      6203 194th St

      WAREHOUSE, STORAGE • 17,480 SF
      6203 194th St, Kent, WA 98032-2127
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,912 SF

      Stand-Alone Building For Sale

      Rare stand-alone building in Kent near SR-167.
      22645 76Th Ave S, Kent, WA 98032
      View Details
    • Contact for pricing

      44,602 SF Industrial Building

      Industrial building with office space, secured yard, and freeway access.
      7036 S 190Th St, Kent, WA 98032
      View Details
    • Contact for pricing

      Kent Valley Industrial Space Available

      71,332 SF industrial space for lease in Kent Valley.
      6205-6305 S 231St St, Kent, WA 98032
      View Details
    • Contact for pricing
      113,600 SF

      Kent Warehouse Space Available

      Available warehouse space in Kent, Washington.
      22441-22445 76Th Ave S, Kent, WA 98032
      View Details
    • $16,200,000

      Kent Industrial Building For Sale

      65,858 SF industrial building with freeway access in Kent.
      7036 S 190Th St, Kent, WA 98032
      View Details
    • Contact for pricing

      Industrial Space Near Amazon Center

      20,762 SF industrial space with office and ample parking.
      6608 S 211Th St, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      170,000 SF

      Mill Creek Distribution Center: 102,429 SF

      Large warehouse space available; ideal for distribution.
      22114 76Th Ave, Kent, WA 98032
      View Details
    • Contact for pricing
      35,390 SF

      Kent Warehouse Space Available

      35,390 SF warehouse space for lease in Kent, WA.
      19305 72Nd Ave S, Kent, WA 98032
      View Details
    • Contact for pricing
      182,283 SF

      Kent Warehouse Space Available

      Large warehouse space available for lease in Kent, Washington.
      7730 S 202Nd St, Kent, WA 98032
      View Details
    • Contact for pricing
      30,212 SF

      Kent Warehouse with Rail Access

      30,212 SF warehouse with dock and rail access.
      6012 S 196Th St, Kent, WA 98032
      View Details
    • Contact for pricing
      5,125 SF

      Kent Warehouse Space Available

      Rare warehouse space with dock and grade level access.
      7064 South 220Th St, Kent, WA 98032
      View Details
    • Contact for pricing
      17,920 SF

      Kent Warehouse with Office Space

      17,920 SF warehouse with office space available for lease.
      6701-6707 S 216Th St, Kent, WA 98032
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21214 66th S Ave
    Kent, WA 98032-2445
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!