Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$9,345,000
Warehouses
22601 76th S Ave Kent, WA 98032-1922
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1638281
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,890 SF
Lot
2.17 ac (94,623 SF)
Zoning code
I1
APN
383090-0060
UPID
US90-1638281
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
-
Easy Stone /Prizm Stone Corporation Big Box & Wholesale Store
-
Easy Stones Big Box & Wholesale Store
-
Prizm Stone Corporation Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.07M
CAP Approach
CAP
$8.53M
Comparable Approach
Comparable
$8.63M
Blend (final)
Blend
$9.35M
Owner & transaction history
Elevate Propco Xvi LLC · 5 yrs held
Elevate Propco Xvi LLC
since 2021
Last sale
$9.4M
4 recorded transactions
Zoning & alternative use
I1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.8M
+28.8%
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
$10,100,000
ML approach
$10,065,000
CAP Approach
CAP Return
Estimation
6%
$9,240,000
6.5%
$8,530,000
7%
$7,920,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,460,000
Current use
COMMERCIAL (GENERAL)
$14,755,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$9.35M
Range $8.41M – $10.28M · ±10% · vs last sale $9.38M (May 28 2021)
Last sale anchor
$9.38M
May 28 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
$195 / 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
$64,134
Tax year 2022
Assessed value
$5,602,700
Assessed 2022
Previous assessed
$5,602,700
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$2,318,200
Assessed improvement
$3,284,500
Land market value
$2,318,200
Improvement market value
$3,284,500
Total market value
$5,602,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
47,890 SF
Lot
2.17 ac (94,623 SF)
Zoning code
I1
APN
383090-0060
UPID
US90-1638281
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
WAREHOUSE, STORAGE Current
Est. value
$11.5M
COMMERCIAL (GENERAL)
Est. value
$14.8M
WAREHOUSE, STORAGE Current
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
2.17 ac
Current owner
From public records · entity-resolved
Elevate Propco Xvi LLC
Entity
Mailing address
5507 E WISHON RD, SNOHOMISH, WA 98290-8549
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2021
$9,375,000
Elevate Propco Xvi LLC
Lift 228th Street 7416 LLC
Special Warranty Deed
$180,500,000 · Bank Of America NA
May 8, 2019
—
Lift 228th Street 7416 LLC
—
Grant Deed
related
$18,000,000 · Pgim Vip Mtg Account LP
Jan 31, 2019
$5,900,000
Lift 228th Street 7416 LLC
Gull Inds INC
Grant Deed
—
Jan 19, 2007
—
228th Street Kent LLC
Gull Industries INC
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 22601 76th S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
