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Property profile & analytics
OFF-MARKET
Estimated value
$10,730,000
Commercial land
240th St Kent, WA 98032
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-2617736
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
7.57 ac (329,825 SF)
Zoning code
MCR
APN
222204-9113
UPID
US90-2617736
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
$8.57M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.73M
Owner & transaction history
Sut 565 LP · 2 yrs held
Sut 565 LP
since 2024
Last sale
$10.9M
3 recorded transactions
Zoning & alternative use
MCR · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose and intent of the MCR district is to provide area that will encourage the location of dense and varied retail, office, or residential activities in support of rapid light rail and mass transit options, to enhance a pedestrian oriented character, and to implement the goals and policies of the Midway Subarea Plan
Zone name
Midway Commercial Residential
General category
COMMERCIAL
Zone area
176.08 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
$10,390,000
ML approach
$8,570,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.73M
Range $9.66M – $11.80M · ±10% · vs last sale $10.90M (Sep 1 2023)
Last sale anchor
$10.90M
Sep 1 2023
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
—
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 2024Property tax & assessments
Tax year 2024
Tax billed
$16,134
Tax year 2024
Assessed value
$1,592,100
Assessed 2023
Previous assessed
$1,592,100
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$1,592,100
Land market value
$1,592,100
Total market value
$1,592,100
Applied tax rate
1,452.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
7.57 ac (329,825 SF)
Zoning code
MCR
APN
222204-9113
UPID
US90-2617736
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MCR · Kent, WAZoning MCR · permitted uses
MCR · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose and intent of the MCR district is to provide area that will encourage the location of dense and varied retail, office, or residential activities in support of rapid light rail and mass transit options, to enhance a pedestrian oriented character, and to implement the goals and policies of the Midway Subarea Plan
Zone name
Midway Commercial Residential
General category
COMMERCIAL
Zone area
176.08 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
7.57 ac
Current owner
From public records · entity-resolved
Sut 565 LP
Entity
Free & Clear · 2 yrs held
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2024
—
Sut 565 LP
Argus Investment Company INC
Re-recorded Document
related
—
Sep 1, 2023
$10,900,000
Sut 565 LP
Argus Investment Company INC
Bargain And Sale Deed
$8,400,000 · Pacific Premier Bank
Dec 2, 2021
—
Cedar Coast General LLC
Argus Investment Company INC
Agreement Of Sale
—
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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