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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Medical Office Space
233 2nd S Ave Kent, WA 98032-5852
Individually Owned
13-yr Hold
Free & Clear
Property ID
US90-1764731
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1946
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,116 SF
Lot
0.35 ac (15,360 SF)
Zoning code
DCE
APN
982570-0545
UPID
US90-1764731
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
by Request
CAP Approach
CAP
$915k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$755k
Owner & transaction history
Sea-mar Cmnty Health Center · 13 yrs held
Sea-mar Cmnty Health Center
since 2013
4 recorded transactions
Zoning & alternative use
DCE · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of thisdistrictis to encourage and promote higher density development and a variety and mixture of compatible retail, commercial, residential, civic, recreational, and service activities in the downtown area, to enhance the pedestrian oriented character of the downtown
Zone name
Downtown Commercial Enterprise
General category
CIVIC_INSTITUTIONAL
Zone area
242.43 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%
$990,000
6.5%
$915,000
7%
$850,000
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$183 / 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
$733
Tax year 2022
Assessed value
$860,200
Assessed 2022
Previous assessed
$860,200
+0.0% YoY
Effective rate
0.09%
On assessed value
Assessed land
$353,200
Assessed improvement
$507,000
Land market value
$353,200
Improvement market value
$507,000
Total market value
$860,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1946
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
4,116 SF
Lot
0.35 ac (15,360 SF)
Zoning code
DCE
APN
982570-0545
UPID
US90-1764731
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DCE · Kent, WAZoning DCE · permitted uses
DCE · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of thisdistrictis to encourage and promote higher density development and a variety and mixture of compatible retail, commercial, residential, civic, recreational, and service activities in the downtown area, to enhance the pedestrian oriented character of the downtown
Zone name
Downtown Commercial Enterprise
General category
CIVIC_INSTITUTIONAL
Zone area
242.43 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1946
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Sea-mar Cmnty Health Center
Individual
Free & Clear · 13 yrs held
Mailing address
1040 S HENDERSON ST, SEATTLE, WA 98108-4720
Ownership since
2013
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
Apr 17, 2020
—
Sea-mar Cmnty Health Ctr
—
Deed
related
$26,916,000 · Washington Health Care Facilit
Feb 28, 2013
$625,000
Sea-mar Cmnty Health Center
Moschel,dolores D
Grant Deed
—
—
—
Sea-mar Cmnty Health Center
—
Deed Of Trust
related
$472,500 · Union Bank
—
—
Sea-mar Cmnty Health Ctr
—
Deed Of Trust
related
$26,916,000 · Washington Health Care Facilit
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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