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Property profile & analytics
OFF-MARKET
Estimated value
$5,360,000
Distribution centers
2407 200th St Seatac, WA 98198-5202
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-3260738
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,216 SF
Lot
1.32 ac (57,420 SF)
Zoning code
RBX
APN
344500-0056
UPID
US90-3260738
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.39M
CAP Approach
CAP
$3.76M
Comparable Approach
Comparable
$5.20M
Blend (final)
Blend
$5.36M
Owner & transaction history
State Of Washington · 2 yrs held
State Of Washington
since 2024
4 recorded transactions
Zoning & alternative use
RBX · Seatac, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to provide a higher intensity commercial zone providing areas for the compatible development of heavy commercial uses such as warehouse/distribution, light assembly and service commercial in tandem with people intensive commercial uses, such as office and related retail uses, It is a transitional zone between industrial areas and…
Zone name
Regional Business Mix
General category
MIXED_USE
Zone area
131.73 ac
Source
Realmo
Top alternative use upside
Retail stores
$8.9M
+35.7%
Apartment house (5+ units)
$7.9M
+20.1%
Office building
$7.9M
+19.6%
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 Seatac submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seatac 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
$5,495,000
ML approach
$5,385,000
CAP Approach
CAP Return
Estimation
6%
$4,070,000
6.5%
$3,755,000
7%
$3,490,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,565,000
Current use
RETAIL STORES
$8,910,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$7,880,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$7,850,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$7,640,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$5.36M
Range $4.82M – $5.90M · ±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
$241 / 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
$40,112
Tax year 2022
Assessed value
$3,673,700
Assessed 2022
Previous assessed
$3,673,700
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,492,900
Assessed improvement
$2,180,800
Land market value
$1,492,900
Improvement market value
$2,180,800
Total market value
$3,673,700
Applied tax rate
2,231.0000
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
22,216 SF
Lot
1.32 ac (57,420 SF)
Zoning code
RBX
APN
344500-0056
UPID
US90-3260738
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RBX · Seatac, WAZoning RBX · permitted uses
RBX · Seatac, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to provide a higher intensity commercial zone providing areas for the compatible development of heavy commercial uses such as warehouse/distribution, light assembly and service commercial in tandem with people intensive commercial uses, such as office and related retail uses, It is a transitional zone between industrial areas and less intensive commercial, mixed use or residential zones, The regional business mix zone implements the Comprehensive Plan’s regional business mix land use designation
Zone name
Regional Business Mix
General category
MIXED_USE
Zone area
131.73 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.6M
RETAIL STORES
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.9M
OFFICE BUILDING
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 2 yrs held
Mailing address
19023 RICHMOND BCH DR NW, SHORELINE, WA 98177-2939
Ownership since
2024
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
Aug 1, 2024
—
State Of Washington
Pac Center B LLC
Warranty Deed
—
Feb 23, 2022
—
Pac Center B LLC
—
Deed
related
$2,420,000 · Evergreen Business Capital
Oct 15, 2021
$5,100,000
Pac Center B LLC
Fearn Limited Partnership
Warranty Deed
$2,943,000 · Key Bank NA
Jan 31, 2005
$1,625,000
Fearn
Norpatsu
Warranty Deed
$1,250,000 · Union Bank Of California
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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