215 Meeker St Kent, WA 98032-5820
Entity Owned
~
Est. High Equity
Estimated value (blended)
$2.02M
Range $1.81M – $2.22M (±10%)
Property ID
US90-1707558
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,217 SF
Lot
0.25 ac (10,930 SF)
Zoning code
DCE
APN
982570-0235
UPID
US90-1707558
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Printing Service
-
Department Store
-
(Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$2.38M
Blend (final)
Blend
$2.02M
Owner & transaction history
since 2025
Last sale
$1.8M
5 recorded transactions
Zoning & alternative use
DCE · Kent, WA
Zoning description
The purpose of thisdistrictis to encourage and promote higher density development and a variety and mixture of compatible retail, commercial, residential, civic, recreational, and service activities in the downtown area,…
General category
CIVIC_INSTITUTIONAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 10 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.02M
Value range
$1.81M – $2.22M
±10% around blend
Estimated value / SF
$219 / SF
Confidence
High
10 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
100
$1.81M
blend $2.02M
$2.22M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,217 SF
Lot area
0.25 ac
Year built
1931
Stories
1
APN
982570-0235
Assessed value
$1,032,600
Annual tax
$12,233
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.08M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.26M
@ 6.5% CAP return
$2.08M
@ 7% CAP return
$1.94M
4
Sales comparison
Partial preview
Sales approach indication
$2.62M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.7 mi away · 11,834 SF
3.9 mi away · 7,744 SF
6.8 mi away · 6,912 SF
14.8 mi away · 9,460 SF
15.4 mi away · 9,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.02M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 399 sales
$392
-44%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $219/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.80M
Move the market yield to see immediate price impact.
Value / SF
$195
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$113k
$2.27M
$1.62M
$1.26M
$126k
$2.52M
$1.80M
$1.40M
$139k
$2.77M
$1.98M
$1.54M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$3.33M
0.2 mi · Nov 2025 · $291/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$12,233
Tax year 2022
Assessed value
$1,032,600
Assessed 2022
Previous assessed
$1,032,600
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$251,300
Assessed improvement
$781,300
Land market value
$251,300
Improvement market value
$781,300
Total market value
$1,032,600
Applied tax rate
1,526.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
9,217 SF
Lot
0.25 ac (10,930 SF)
Zoning code
DCE
APN
982570-0235
UPID
US90-1707558
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DCE · Kent, WAZoning DCE · permitted uses
DCE · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The purpose of thisdistrictis to encourage and promote higher density development and a variety and mixture of compatible retail, commercial, residential, civic, recreational, and service activities in the downtown area,…
General category
CIVIC_INSTITUTIONAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.25 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
DCE
CIVIC_INSTITUTIONAL
Jurisdiction
Kent, WA
Recorded code
DCE
Official district
DCE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for DCE in Kent, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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