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Property profile & analytics
FOR LEASE
Office buildings
31001 144Th Ave Southeast, Kent, WA 98042
Individually Owned
4-yr Hold
Free & Clear
Property ID
US90-1274934
For Lease
1 / 3
$1,185,000
31001 144Th Ave Southeast, Kent, WA 98042
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
WOOD
Total area
3,808 SF
Lot
62.75 ac (2,733,390 SF)
Zoning code
IPSO
APN
112105-9035
UPID
US90-1274934
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
-
ProFormance Racing School Car Racing Track
-
Four Horsemen Concessions Restaurant
-
Washington Motorcycle Road racing Association Association / Organization
-
ATM Atm
-
Pacific Raceways Car Racing Track
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.19M
Owner & transaction history
Jason Fiorito · 4 yrs held
Jason Fiorito
since 2022
7 recorded transactions
Zoning & alternative use
IPSO · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+85.6%
Medical building
$1.5M
+59.7%
Retail stores
$1.5M
+58.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,330,000
6.5%
$1,225,000
7%
$1,140,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$940,000
Current use
AUTO REPAIR, GARAGE
$1,750,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$1,505,000
Change: +60% · Conversion: Easy
RETAIL STORES
$1,495,000
Change: +59% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,315,000
Change: +40% · Conversion: Easy
WAREHOUSE, STORAGE
$985,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±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
$311 / 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
$132,142
Tax year 2022
Assessed value
$5,220,100
Assessed 2022
Previous assessed
$5,220,100
+0.0% YoY
Effective rate
2.53%
On assessed value
Assessed land
$3,416,700
Assessed improvement
$1,803,400
Land market value
$3,416,700
Improvement market value
$1,803,400
Total market value
$5,220,100
Applied tax rate
4,795.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2000
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
8
Stories
1
Total area
3,808 SF
Lot
62.75 ac (2,733,390 SF)
Zoning code
IPSO
APN
112105-9035
UPID
US90-1274934
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IPSO · Kent, WA
Zoning IPSO · permitted uses
IPSO · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kent. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$985,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2000
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
8
Lot
62.75 ac
Current owner
From public records · entity-resolved
Jason Fiorito
Individual
Free & Clear · 4 yrs held
Mailing address
PO BOX 31529, SEATTLE, WA 98103-1529
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2023
—
Barbara J Fiorito
—
Deed
related
$7,160,000 · Banner Bank
May 6, 2022
$1,025,150
Jason Fiorito
Fiorito J Dan JR
Quit Claim Deed
related
—
Aug 4, 2021
$2,984,100
Jav LLC
Jdfj Corp
Quitclaim Deed
related
—
Jun 23, 2020
—
J D Fiorito JR
Race Track LLC
Quit Claim Deed
related
—
Apr 3, 2018
—
Race Track L L C
—
Deed
related
$400,000 · Banner Bank
Dec 16, 2010
$65,736
Race Track LLC
Pacific Raceways INC
Grant Deed
—
Jun 23, 2004
—
Race Track LLC
—
Deed Of Trust
related
$1,000,000 · Mt Rainier National Bank
Nov 20, 2002
—
Pacific Raceways LLC
Fiorito,joseph A
Quit Claim Deed
related
—
Nov 19, 2002
—
J D F Corp
Fiorito,j D & Barabara
Quit Claim Deed
related
—
Aug 26, 1999
$399,733
Randy A Fiorito
Randy Fiorito LLC
Quit Claim Deed
related
—
Jan 11, 1999
—
Randy Fiorito LLC
Fiorito,randy A
Quit Claim Deed
related
—
Dec 29, 1988
—
Randy A Fiorito
F A R Corporatio
Quit Claim Deed
related
—
—
—
Pacific Raceways LLC
—
Deed Of Trust
related
$3,360,487 · Mt Rainier Bank
—
—
Race Track LLC
—
Deed Of Trust
related
$500,000 · Mt Rainier National Bank
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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