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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 Meeker St Kent, WA 98032-5820

    • Outlet malls
    • 9,217 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Jul 24, 2025
    $1,800,000
    Value Estimations
    $2,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1707558
    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

    • Constantine Screen Printing & Boutiquefr,xr, / Screen Printer
    • Childrens hospital thrift / Store
    • Cycle Therapy / Bicycle Shop

    Property Details for 215 Meeker St

    Year built
    1931
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    9,217 SF
    Zone code
    DCE
    Property type
    Outlet malls
    APN
    982570-0235
    APU
    9825700235

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,255,000
      6.5%
      $2,080,000
      7%
      $1,935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,379,000
      Market price range: $1.66M - $6.27M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,195,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.234
    Latitude
    47.3818
    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
    $12,233
    $251,300
    $781,300
    $1,032,600
    -
    $251,300
    $781,300
    $1,032,600

    Comparable in this City

    • Value Estimation
      $2,745,000
      20,800 SF

      1720 Central S Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 20,800 SF
      1720 Central S Ave, Kent, WA 98032-7416
      View Details
    • Value Estimation
      $1,140,000
      9,720 SF

      316 Meeker St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,720 SF
      316 Meeker St, Kent, WA 98032-5819
      View Details
    • Value Estimation
      $3,725,000
      26,060 SF

      821 Central S Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 26,060 SF
      821 Central S Ave, Kent, WA 98032-6102
      View Details
    • Value Estimation
      $1,580,000
      15,000 SF

      306 Central N Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 15,000 SF
      306 Central N Ave, Kent, WA 98032
      View Details
    • Value Estimation by Request
      1,600 SF

      1148 Central N Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,600 SF
      1148 Central N Ave, Kent, WA 98032-3044
      View Details
    • Value Estimation
      $735,000
      4,900 SF

      1520 Central S Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,900 SF
      1520 Central S Ave, Kent, WA 98032-7420
      View Details

    Similar Nearby for Sale

    • $3,500,000

      26,536 SF Mixed-Use Building

      Mixed-use building with commercial suites and residential units for sale.
      213-235 1St Ave S, Kent, WA 98032
      View Details
    • $2,400,000

      Stabilized Retail Plaza For Sale

      100% occupied retail plaza on signalized hard corner.
      21110 S 84Th Ave, Kent, WA 98032
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    • $5,500,000
      24,240 SF

      Kent Commercial Lot with Building

      24,246 SF lot with 2,438 SF building in Kent.
      418 Central Ave N, Kent, WA 98032
      View Details
    • $2,650,000
      16,756 SF

      Mixed-Use Building Near Kent Station

      16,756 SF mixed-use building with retail and apartments.
      214-224 W Meeker St, Kent, WA 98032
      View Details
    • $2,650,000
      16,756 SF

      Meeker Street Mixed-Use Building

      Mixed-use building near Kent Station with retail and apartment units.
      214 W Meeker St, Kent, WA 98032
      View Details
    • Contact for pricing
      24,240 SF

      Downtown Kent Mixed-Use Property

      Prime Kent location, high potential.
      408 Central Ave, Kent, WA 98032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,527 SF

      Retail Space in Kent, WA

      Retail property available for lease in Kent, Washington.
      841 N Central Ave, Kent, WA 98032
      View Details
    • $25 SF/Yr
      23,867 SF

      Retail Space in Woodmont Plaza

      23,867 SF retail space in Kent, WA for lease.
      26200 Pacific Hwy S, Kent, WA 98032
      View Details
    • Contact for pricing
      4,025 SF

      Kent Retail Space Available

      Retail space available for lease in Kent, Washington.
      20038 68Th Ave S, Kent, WA 98032
      View Details
    • $25 SF/Yr
      1,460 SF

      Former Starbucks Retail Space

      Retail space with on-site parking near Kent Station.
      425 Meeker St, Kent, WA 98032
      View Details
    • $995,000
      2,135 SF

      Stand Alone Pad Building

      Highly visible, remodeled dental office on hard corner.
      23241 Pacific Hwy S, Kent, WA 98032
      View Details
    • $32 SF/Yr
      2,359 SF

      Retail Space in Kent, WA

      Retail space available for lease in Kent, Washington.
      2200 West Meeker St, Kent, WA 98032
      View Details
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    215 Meeker St
    Kent, WA 98032-5820
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    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
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