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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Drive through restaurants
24220 Pacific S Hwy Kent, WA 98032
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-2235202
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2018
Construction
WOOD
Total area
4,000 SF
Lot
2.1 ac (91,686 SF)
Zoning code
MTC-1
APN
551400-0040
UPID
US90-2235202
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
-
Dick's Drive-In Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$770k
Owner & transaction history
City Of Kent · 8 yrs held
City Of Kent
since 2018
6 recorded transactions
Zoning & alternative use
MTC-1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose and intent of the MTC-1districtis to provide an area that will encourage the location of moderately dense and varied retail, office, or residential activities in support of rapid light rail and mass transit options, to enhance a pedestrian-oriented character while acknowledging the existing highway corridor character, and to implement the goals a…
Zone name
Midway Transit Community 1
General category
COMMERCIAL
Zone area
71.04 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
$465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$193 / 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
$27,901
Tax year 2022
Assessed value
$2,700,000
Assessed 2022
Previous assessed
$2,700,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$2,017,000
Assessed improvement
$683,000
Land market value
$2,017,000
Improvement market value
$683,000
Total market value
$2,700,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2018
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
4,000 SF
Lot
2.1 ac (91,686 SF)
Zoning code
MTC-1
APN
551400-0040
UPID
US90-2235202
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MTC-1 · Kent, WAZoning 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
Zoning description
The purpose and intent of the MTC-1districtis to provide an area that will encourage the location of moderately dense and varied retail, office, or residential activities in support of rapid light rail and mass transit options, to enhance a pedestrian-oriented character while acknowledging the existing highway corridor character, and to implement the goals and policies of the Midway Subarea Plan
Zone name
Midway Transit Community 1
General category
COMMERCIAL
Zone area
71.04 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2018
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
2.1 ac
Current owner
From public records · entity-resolved
City Of Kent
Entity
Free & Clear · 8 yrs held
Mailing address
4426 2ND AVE NE, SEATTLE, WA 98105-6129
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Jan 22, 2025
—
Dicks Drive Ins Ltd LP
—
Deed
related
$6,600,000 · Bank Of America NA
Sep 21, 2022
—
Dicks Drive Ins Ltd LP
—
Deed
related
$3,749,999 · Bank Of America NA
May 19, 2021
—
Dicks Drive Ins Ltd LP
—
Deed
related
$4,000,000 · Bank Of America NA
May 7, 2018
—
Dicks Drive-ins Ltd LP
—
Grant Deed
related
$6,500,000 · Bank Of America/il
May 3, 2018
—
City Of Kent
Dicks Drive-ins Ltd LP
Quit Claim Deed
related
—
Mar 30, 2018
$3,000,000
Dicks Drive-ins Ltd LP
Pacific Service Co INC
Warranty Deed
—
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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