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Property profile & analytics
OFF-MARKET Estimated value $17,285,000
Outlet malls

27027 185th SE Ave Covington, WA 98042-8418

140,304 SF 9.17 ac lot Built 2008
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US90-0885505
Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 2008
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 140,304 SF
Lot 9.17 ac (399,584 SF)
Zoning code MC
APN 179631-0010
UPID US90-0885505
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
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$17.29M
Owner & transaction history
Weingarten Nostat INC · 6 yrs held
Weingarten Nostat INC
since 2019
5 recorded transactions
2019
$37.4M
2016
Price N/A
2012
$31.3M
2010
Price N/A
1969
Price N/A
Zoning & alternative use
MC · Covington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

(2) The mixed commercial district (MC) is applied to the majority of the Covington downtown zone. This district encourages a mix of commercial and multi-story residential uses, public uses, and allows for large-format and auto-oriented retail, provided they meet pedestrian-oriented design standards that are more flexible than those applied to the town center…

Zone name Mixed Commercial
General category COMMERCIAL
Zone area 224.56 ac
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