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Property profile & analytics
OFF-MARKET
Estimated value
$48,420,000
Distribution centers
23028 Russell Rd Kent, WA 98032-4897
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-1679187
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
342,484 SF
Lot
58.76 ac (2,559,601 SF)
Zoning code
I2
APN
000620-0002
UPID
US90-1679187
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
-
Expeditors International of Washington Inc. Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$61.00M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$48.42M
Owner & transaction history
Tga Van Dorens West LLC · 6 yrs held
Tga Van Dorens West LLC
since 2019
5 recorded transactions
Zoning & alternative use
I2 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I2 mixed industrialdistrictis intended to accommodate a range of small, moderate and large scale industrialusesand activities with moderate to high employment density
Zone name
Mixed Industrial
General category
INDUSTRIAL
Zone area
2,210.49 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$66,080,000
6.5%
$61,000,000
7%
$56,640,000
Blend value · Realmo final
$48.42M
Range $43.58M – $53.26M · ±10%
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
$141 / 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
$1,364,150
Tax year 2022
Assessed value
$128,240,700
Assessed 2022
Previous assessed
$128,240,700
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$28,002,000
Assessed improvement
$100,238,700
Land market value
$28,002,000
Improvement market value
$100,238,700
Total market value
$128,240,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
342,484 SF
Lot
58.76 ac (2,559,601 SF)
Zoning code
I2
APN
000620-0002
UPID
US90-1679187
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Kent, WAZoning I2 · permitted uses
I2 · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I2 mixed industrialdistrictis intended to accommodate a range of small, moderate and large scale industrialusesand activities with moderate to high employment density
Zone name
Mixed Industrial
General category
INDUSTRIAL
Zone area
2,210.49 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
58.76 ac
Current owner
From public records · entity-resolved
Tga Van Dorens West LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 30428, CHARLOTTE, NC 28230-0428
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2019
—
Tga Van Dorens West LLC
Teachers Ins & Annuity Assn Of Am
Grant Deed
—
Dec 30, 2002
$37,328,000
Insurance Teachers
Benaroya Capital Co LLC
Grant Deed
—
Jul 3, 1997
$3,298,590
Benaroya Capital Co LLC
Kent City (oh)
Grant Deed
related
—
Dec 16, 1993
—
City Of Kent
Upland Industria
Grant Deed
related
—
—
—
Benaroya Capital Company LLC
—
Deed Of Trust
related
$16,200,000 · Key Bank NA
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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