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Property profile & analytics
FOR LEASE
Office buildings
23835 Pacific Hwy S, Kent, WA 98032
Individually Owned
4-yr Hold
Free & Clear
Property ID
US90-2129092
For Lease
$18 SF/Yr
23835 Pacific Hwy S, Kent, WA 98032
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
33,336 SF
Lot
2.11 ac (91,972 SF)
Zoning code
MTC-1
APN
250060-0680
UPID
US90-2129092
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
-
World Relief Seattle Charitable Organization Social Service Agency
-
World Relief Western Washington Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.23M
Blend (final)
Blend
$5.43M
Owner & transaction history
State Of Washington · 4 yrs held
State Of Washington
since 2022
6 recorded transactions
Zoning & alternative use
MTC-1 · Kent, 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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,680,000
Current use
Blend value · Realmo final
$5.43M
Range $4.88M – $5.97M · ±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
$163 / 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
$61,281
Tax year 2022
Assessed value
$5,315,500
Assessed 2022
Previous assessed
$5,315,500
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$2,207,300
Assessed improvement
$3,108,200
Land market value
$2,207,300
Improvement market value
$3,108,200
Total market value
$5,315,500
Applied tax rate
1,468.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Stories
2
Total area
33,336 SF
Lot
2.11 ac (91,972 SF)
Zoning code
MTC-1
APN
250060-0680
UPID
US90-2129092
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MTC-1 · Kent, WA
Zoning MTC-1 · permitted uses
MTC-1 · 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
OFFICE BUILDING Current
Est. value
$8.7M
OFFICE BUILDING Current
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Stories
2
Lot
2.11 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 4 yrs held
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2022
—
State Of Washington
Mclena Highline Properties LLC
Lease
—
Mar 25, 2005
—
Mclean Highline Properties LLC
—
Trustees Deed
related
$4,300,000 · Key Bank NA
Dec 21, 2004
—
Mclean Highline Properties LLC
Mclean Prop Investments LLC
Quit Claim Deed
related
—
Feb 14, 2001
—
Property Investments Ll Mclean
Mclean,luther L
Quit Claim Deed
related
—
Jan 2, 2001
—
Property Investments Mclean
Mclean,luther L
Quit Claim Deed
related
—
—
—
Mclean Highline Properties LLC
—
Deed Of Trust
related
$4,000,000 · Ids Life Insurance Co
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?”
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