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Property profile & analytics
OFF-MARKET
Estimated value
$23,650,000
Distribution centers
22100 68th S Ave Kent, WA 98032-1912
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1442211
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
94,225 SF
Lot
4.98 ac (217,135 SF)
Zoning code
I1
APN
122204-9067
UPID
US90-1442211
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$23.65M
CAP Approach
CAP
$16.78M
Comparable Approach
Comparable
$19.82M
Blend (final)
Blend
$23.65M
Owner & transaction history
Pisco Capital Investments LLC · 2 yrs held
Pisco Capital Investments LLC
since 2024
Last sale
$23.7M
7 recorded transactions
Zoning & alternative use
I1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I1 industrial business district consists of areas of high opportunity for the city in terms of employment, revenue, and placemaking
Zone name
Industrial Business
General category
INDUSTRIAL
Zone area
1,776.37 ac
Source
Realmo
Top alternative use upside
Medical building
$37.2M
+65.1%
Retail stores
$37.0M
+63.9%
Industrial (general)
$35.9M
+59.4%
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
$23,650,000
ML approach
$23,650,000
CAP Approach
CAP Return
Estimation
6%
$18,180,000
6.5%
$16,780,000
7%
$15,585,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$22,545,000
Current use
MEDICAL BUILDING
$37,220,000
Change: +65% · Conversion: Difficult
RETAIL STORES
$36,965,000
Change: +64% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$35,935,000
Change: +59% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$32,665,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$29,035,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$23.65M
Range $21.29M – $26.02M · ±10% · vs last sale $23.65M (Jan 31 2024)
Last sale anchor
$23.65M
Jan 31 2024
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
$251 / 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
$149,527
Tax year 2022
Assessed value
$13,821,600
Assessed 2022
Previous assessed
$13,821,600
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$5,211,200
Assessed improvement
$8,610,400
Land market value
$5,211,200
Improvement market value
$8,610,400
Total market value
$13,821,600
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
94,225 SF
Lot
4.98 ac (217,135 SF)
Zoning code
I1
APN
122204-9067
UPID
US90-1442211
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Kent, WAZoning I1 · permitted uses
I1 · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I1 industrial business district consists of areas of high opportunity for the city in terms of employment, revenue, and placemaking
Zone name
Industrial Business
General category
INDUSTRIAL
Zone area
1,776.37 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$22.5M
MEDICAL BUILDING
Est. value
$37.2M
RETAIL STORES
Est. value
$37.0M
INDUSTRIAL (GENERAL)
Est. value
$35.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$32.7M
COMMERCIAL (GENERAL)
Est. value
$29.0M
WAREHOUSE, STORAGE Current
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
4.98 ac
Current owner
From public records · entity-resolved
Pisco Capital Investments LLC
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2024
—
Pisco Capital Investments LLC
—
Deed
related
$17,542,500 · Wells Fargo Bank NA
Jan 31, 2024
$23,650,000
Pisco Capital Investments LLC
Harvest Industrial LLC
Special Warranty Deed
—
Dec 20, 2019
$17,755,000
Harvest Industrial LLC
Northwest Harvest Of Emm
Grant Deed
—
Jun 12, 2014
—
Northwest Harvest Of Emm
Northwest Harvest Landowner
Quit Claim Deed
related
—
Dec 21, 2006
—
Northwest Harvest Landowner
Northwest Harvest Of E M M
Quit Claim Deed
related
—
Nov 28, 2006
$7,820,675
Northwest Harvest/e M M
The Bank Of New York
Special Warranty Deed
$8,000,000 · Us Bank NA
Feb 12, 1999
—
Bank Of New York Trust
Wells Fargo Bank
Quit Claim Deed
related
—
—
—
Northwest Harvest
—
Deed Of Trust
related
$350,000 · King County
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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