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Property profile & analytics
FOR LEASE
Warehouses
23175 224Th Pl SE, Maple Valley, WA 98038
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US90-1471629
For Lease
1 / 2
$2,825,000
23175 224Th Pl SE, Maple Valley, WA 98038
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,888 SF
Lot
2.41 ac (104,980 SF)
Zoning code
REC
APN
162206-9017
UPID
US90-1471629
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
-
TK Mountain Lifestyle (Bike/Boat/Book/etc) Store Pharmacy
-
Cherry Creek Mortgage, Grace Park Loan Service Bank
-
American Pacific Mortgage (NMLS #1493372) Loan Service Bank
-
Ryan Tosch MLS# 1568419, American Pacific Mortgage NMLS#1493372 Loan Service Bank
-
Kent D Bruce Company Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.83M
Owner & transaction history
Maple Valley Park Place LLC · 15 yrs held
Maple Valley Park Place LLC
since 2010
7 recorded transactions
Zoning & alternative use
REC · Maple Valley, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,845,000
6.5%
$3,550,000
7%
$3,295,000
Blend value · Realmo final
$2.83M
Range $2.54M – $3.11M · ±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
$150 / 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
$40,865
Tax year 2022
Assessed value
$4,268,500
Assessed 2022
Previous assessed
$4,268,500
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$1,181,000
Assessed improvement
$3,087,500
Land market value
$1,181,000
Improvement market value
$3,087,500
Total market value
$4,268,500
Applied tax rate
1,821.0000
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Stories
2
Total area
18,888 SF
Lot
2.41 ac (104,980 SF)
Zoning code
REC
APN
162206-9017
UPID
US90-1471629
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.
Building & site characteristics
From public records
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
2
Lot
2.41 ac
Current owner
From public records · entity-resolved
Maple Valley Park Place LLC
Entity
Mailing address
PO BOX 1121, MAPLE VALLEY, WA 98038-1121
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2010
$3,300,000
Maple Valley Park Place LLC
Park Place At Maple Valley LLC
Warranty Deed
$350,000 · Curtis Lang Etux
Dec 18, 2003
—
Park Place At Maple Valley LLC
Curtis Lang Custom Homes
Quit Claim Deed
related
—
May 28, 1999
$385,000
Curtis Lang Custom Homes
S & S Partnership
Grant Deed
—
Apr 3, 1990
$230,000
S & S Partnership
Schafer,harry A&
Grant Deed
$172,500 · Seller
Feb 23, 1988
$95,000
Samuel J Emmons
Schafer
Trustees Deed
$75,000 · Seller
Feb 23, 1988
$80,000
Samuel J Emmons
Schafer
Trustees Deed
$80,000 · Seller
Feb 23, 1988
$85,000
Edward Israel
Schafer
Trustees Deed
$68,000 · Seller
—
—
Curtis Lang Custom Homes INC
—
Deed Of Trust
related
$320,000 · Pacific Northwest Bank
—
—
Park Place At Maple Valley LLC
—
Deed Of Trust
related
$1,900,000 · Pacific Northwest Bank
—
—
Park Place At Maple Valley LLC
—
Deed Of Trust
related
$200,000 · West Coast Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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