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Property profile & analytics
OFF-MARKET
Estimated value
$9,385,000
Office buildings
21414 68th S Ave Kent, WA 98032-2412
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0952354
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,520 SF
Lot
4.41 ac (191,926 SF)
Zoning code
I1
APN
122204-9037
UPID
US90-0952354
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
-
Hensley Detox Advice Medical Clinic
-
Lionheart Law Law Firm
-
Long Painting Company - Kent General Contractor
-
LINCARE Home Health Care Service Medical Equipment Supplier
-
Xceed Media Group Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.41M
CAP Approach
CAP
$8.86M
Comparable Approach
Comparable
$11.00M
Blend (final)
Blend
$9.39M
Owner & transaction history
Terreno West Valley Highway II LLC · 5 yrs held
Terreno West Valley Highway II LLC
since 2021
Last sale
$10.0M
7 recorded transactions
Zoning & alternative use
I1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.6M
+103.8%
Auto repair, garage
$12.0M
+67.3%
Medical building
$10.9M
+51.7%
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
$8,050,000
ML approach
$8,410,000
CAP Approach
CAP Return
Estimation
6%
$9,600,000
6.5%
$8,860,000
7%
$8,230,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,165,000
Current use
RESTAURANT
$14,600,000
Change: +104% · Conversion: Moderate
AUTO REPAIR, GARAGE
$11,985,000
Change: +67% · Conversion: Difficult
MEDICAL BUILDING
$10,870,000
Change: +52% · Conversion: Easy
RETAIL STORES
$10,795,000
Change: +51% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$10,495,000
Change: +46% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,540,000
Change: +33% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,480,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$9.39M
Range $8.45M – $10.32M · ±10% · vs last sale $10.00M (Apr 13 2021)
Last sale anchor
$10.00M
Apr 13 2021
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
$341 / 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
$123,423
Tax year 2022
Assessed value
$11,114,600
Assessed 2022
Previous assessed
$11,114,600
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$4,606,200
Assessed improvement
$6,508,400
Land market value
$4,606,200
Improvement market value
$6,508,400
Total market value
$11,114,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Total area
27,520 SF
Lot
4.41 ac (191,926 SF)
Zoning code
I1
APN
122204-9037
UPID
US90-0952354
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Kent, WA
Zoning I1 · permitted uses
I1 · 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
OFFICE BUILDING Current
Est. value
$7.2M
RESTAURANT
Est. value
$14.6M
AUTO REPAIR, GARAGE
Est. value
$12.0M
MEDICAL BUILDING
Est. value
$10.9M
RETAIL STORES
Est. value
$10.8M
INDUSTRIAL (GENERAL)
Est. value
$10.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$8.5M
OFFICE BUILDING Current
RESTAURANT
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
2
Buildings
2
Lot
4.41 ac
Current owner
From public records · entity-resolved
Terreno West Valley Highway II LLC
Entity
Mailing address
101 MONTGOMERY ST STE #200, SAN FRANCISCO, CA 94104-4124
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2021
$10,000,000
Terreno West Valley Highway II LLC
Genesis 1 LLC
Warranty Deed
—
Dec 15, 2004
—
Genesis 1 LLC
—
Deed Of Trust
related
$4,000,000 · Banner Bank
Jun 25, 2001
$4,500,000
Genesis 1 LLC
Long,george & Mary
Grant Deed
$3,375,000 · Us Bank NA
May 12, 1994
$2,600,000
George Long
Cci Real Estate
Grant Deed
$2,000,000 · Seller
—
—
Genesis 1 LLC
—
Deed Of Trust
related
$3,610,000 · Banner Bank
—
—
Genesis I LLC
—
Deed Of Trust
related
$3,000,000 · Us Bank NA
—
—
Genesis 1 LLC
—
Deed Of Trust
related
$3,300,000 · Banner Bank
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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