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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Medical Office Space
27015 169th SE Pl Covington, WA 98042-5574
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-2005022
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2013
Construction
WOOD
Total area
8,160 SF
Lot
0.57 ac (24,752 SF)
Zoning code
MC
APN
076600-0030
UPID
US90-2005022
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
by Request
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.64M
Owner & transaction history
City Of Covington · 12 yrs held
City Of Covington
since 2013
7 recorded transactions
Zoning & alternative use
MC · Covington, 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 Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington 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%
$1,965,000
6.5%
$1,815,000
7%
$1,685,000
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$200 / 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
$22,036
Tax year 2022
Assessed value
$2,070,400
Assessed 2022
Previous assessed
$2,070,400
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$445,500
Assessed improvement
$1,624,900
Land market value
$445,500
Improvement market value
$1,624,900
Total market value
$2,070,400
Applied tax rate
1,064.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2013
Construction
WOOD
Heating
FORCED AIR
Stories
2
Bathrooms
1
Total area
8,160 SF
Lot
0.57 ac (24,752 SF)
Zoning code
MC
APN
076600-0030
UPID
US90-2005022
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MC · Covington, WA
Zoning MC · permitted uses
MC · Covington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2013
Construction
WOOD
Heating
FORCED AIR
Stories
2
Bathrooms
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
City Of Covington
Entity
Free & Clear · 12 yrs held
Mailing address
27015 169TH PL SE UNIT #201, COVINGTON, WA 98042-4589
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2016
—
Covington Professional Arts Buildin
—
Deed
related
$2,110,000 · First Citizens Bank & Trust Co
Jul 24, 2013
—
City Of Covington
Covington Prof Arts Building L
Quit Claim Deed
—
Oct 5, 2012
—
Covington Professional Arts Buildin
Daniel Lee
Quit Claim Deed
related
$2,240,000 · Jpmorgan Chase Bank NA
Apr 13, 2005
$240,000
Daniel Lee
Jeffrey Rushing
Warranty Deed
$184,000 · Elliott Bay Mortgage LLC
Apr 27, 1999
$129,950
Jeffrey Rushing
Fisher,matthew L & Susan K
Grant Deed
$129,086 · Norwest Mortgage INC
Nov 24, 1993
$93,150
Matthew L Fisher
Elliott,james B
Grant Deed
$92,300 · Keycorp Mortgage INC
—
—
Jeffrey Rushing
—
Deed Of Trust
related
$16,962 · American General Finance INC
—
—
Mathew L Fisher
—
Deed Of Trust
related
$150,000 · At&t Small Business Lending Co
—
—
Jeffrey Rushing
—
Deed Of Trust
related
$8,451 · Household Finance Corp III
—
—
Jeffrey Rushing
—
Deed Of Trust
related
$150,000 · American General Fin'l Svcs
—
—
Matthew L Fisher
—
Deed Of Trust
related
$28,000 · Us Bank Of Washington
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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