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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Car washes
27240 168th SE Pl, Covington, WA 98042-5562
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-2128702
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,982 SF
Lot
0.95 ac (41,498 SF)
Zoning code
MC
APN
362205-9207
UPID
US90-2128702
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
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$948k
Blend (final)
Blend
$710k
Owner & transaction history
Covel LLC · 13 yrs held
Covel LLC
since 2012
4 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
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$178 / 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
$19,095
Tax year 2022
Assessed value
$1,546,600
Assessed 2022
Previous assessed
$1,546,600
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$871,400
Assessed improvement
$675,200
Land market value
$871,400
Improvement market value
$675,200
Total market value
$1,546,600
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
Car washes
Use group
CAR WASH
Status
Off-Market
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
3,982 SF
Lot
0.95 ac (41,498 SF)
Zoning code
MC
APN
362205-9207
UPID
US90-2128702
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
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Covel LLC
Entity
Mailing address
PO BOX 2009, AUBURN, WA 98071-2009
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2025
—
Covel LLC
—
Deed
related
$2,719,000 · Kitsap Bank
May 18, 2016
—
Covel LLC
—
Deed
related
$1,964,593 · Columbia St Bk
Aug 8, 2012
$763,899
Covel LLC
Haneys LLC
Warranty Deed
$2,065,500 · Columbia State Bank
—
—
Covel LLC
—
Loan Modification
related
$1,964,593 · Columbia St Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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