New search
Property profile & analytics
FOR LEASE
Warehouses
23056 Witte Rd SE, Maple Valley, WA 98038
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0979979
For Lease
1 / 8
$3,285,000
23056 Witte Rd SE, Maple Valley, WA 98038
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1960
Construction
STEEL FRAME
Total area
5,136 SF
Lot
3.38 ac (147,277 SF)
Zoning code
REC
APN
162206-9045
UPID
US90-0979979
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
-
Truck & Trailer Parking Parking Lot & Garage Gas Station
-
Flame Truck Repair Auto Repair Shop
-
RV & Boat Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.29M
Owner & transaction history
Mv Industrial LLC · 4 yrs held
Mv Industrial LLC
since 2021
Last sale
$3.2M
4 recorded transactions
Zoning & alternative use
REC · Maple Valley, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+84.9%
Commercial (general)
$2.6M
+77.7%
Auto repair, garage
$2.4M
+60.0%
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 Maple Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Maple Valley 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
$3,395,000
ML approach
$3,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,725,000
Change: +85% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,620,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,360,000
Change: +60% · Conversion: Easy
MEDICAL BUILDING
$2,030,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$2,015,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$3.29M
Range $2.96M – $3.61M · ±10% · vs last sale $3.15M (Sep 10 2021)
Last sale anchor
$3.15M
Sep 10 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
$640 / 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
$11,538
Tax year 2022
Assessed value
$928,800
Assessed 2022
Previous assessed
$928,800
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$883,600
Assessed improvement
$45,200
Land market value
$883,600
Improvement market value
$45,200
Total market value
$928,800
Applied tax rate
1,817.0000
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
For Lease
Year built
1960
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
5,136 SF
Lot
3.38 ac (147,277 SF)
Zoning code
REC
APN
162206-9045
UPID
US90-0979979
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
REC · Maple Valley, WA
Zoning REC · permitted uses
REC · Maple Valley, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Maple Valley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1960
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
3.38 ac
Current owner
From public records · entity-resolved
Mv Industrial LLC
Entity
Mailing address
26250 238TH LN SE STE #101, MAPLE VALLEY, WA 98038-4000
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
Sep 10, 2021
$3,150,000
Mv Industrial LLC
Lakeside Industries INC
Warranty Deed
$1,575,000 · Homestreet Bank
May 15, 2012
$2,050,000
Lakeside Industries INC
R & H Mining LLC
Warranty Deed
—
Oct 8, 1990
$5,680,000
R Ptps
Schafer
Grant Deed
related
$4,430,400 · Seller
—
—
R & H Mining LLC
—
Deed Of Trust
related
$3,136,780 · 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.
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?”
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.
