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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Commercial land
24408 Pacific S Hwy Kent, WA 98032-4080
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-2015385
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1948
Construction
WOOD FRAME
Total area
4,088 SF
Lot
1.54 ac (66,967 SF)
Zoning code
MCR
APN
212204-9028
UPID
US90-2015385
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
-
NW Vehicle Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$464k
Blend (final)
Blend
$655k
Owner & transaction history
Enderson LLC · 3 yrs held
Enderson LLC
since 2023
Last sale
$665,000
5 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
$635,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,065,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $665k (Jul 13 2023)
Last sale anchor
$665k
Jul 13 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
$160 / 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
$10,217
Tax year 2022
Assessed value
$1,004,500
Assessed 2022
Previous assessed
$1,004,500
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$1,004,500
Land market value
$1,004,500
Total market value
$1,004,500
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1948
Construction
WOOD FRAME
Heating
NONE
Stories
1
Total area
4,088 SF
Lot
1.54 ac (66,967 SF)
Zoning code
MCR
APN
212204-9028
UPID
US90-2015385
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.1M
OFFICE 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
1948
Construction
WOOD FRAME
Heating
NONE
Stories
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Enderson LLC
Entity
Free & Clear · 3 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2023
—
Enderson LLC
1997 Midway Group Limited Partnersh
Quit Claim Deed
related
—
Dec 4, 2007
—
1997 Midway Group
Kapela,robert F & Betty L
Quit Claim Deed
related
—
May 5, 2006
$665,000
Robert F Kapela
Enderson,jack R
Warranty Deed
—
Oct 20, 2005
$3,382
Puget Sound Energy
Enderson,jack R
Grant Deed
—
Dec 27, 1991
—
Jack R Enderson
J&j Motors
Quit Claim Deed
related
—
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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