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Property profile & analytics
FOR LEASE
Warehouses
3225 S 116Th St, Tukwila, WA 98168
Entity Owned
Free & Clear
Property ID
US90-0070539
For Lease
$10,510,000
3225 S 116Th St, Tukwila, WA 98168
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
59,300 SF
Lot
6.03 ac (262,665 SF)
Zoning code
MIC/L
APN
092304-9066
UPID
US90-0070539
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
$10.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.51M
Owner & transaction history
Nwb Gateway North LLC
Nwb Gateway North LLC
since 2026
7 recorded transactions
Zoning & alternative use
MIC/L · Tukwila, 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 Tukwila submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tukwila 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%
$10,865,000
6.5%
$10,025,000
7%
$9,310,000
Blend value · Realmo final
$10.51M
Range $9.46M – $11.56M · ±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
$177 / 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
$191,279
Tax year 2022
Assessed value
$16,996,800
Assessed 2022
Previous assessed
$16,996,800
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$7,879,900
Assessed improvement
$9,116,900
Land market value
$7,879,900
Improvement market value
$9,116,900
Total market value
$16,996,800
Applied tax rate
2,417.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
59,300 SF
Lot
6.03 ac (262,665 SF)
Zoning code
MIC/L
APN
092304-9066
UPID
US90-0070539
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MIC/L · Tukwila, WA
Zoning MIC/L · permitted uses
MIC/L · Tukwila, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tukwila. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
6.03 ac
Current owner
From public records · entity-resolved
Nwb Gateway North LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 4900, SCOTTSDALE, AZ 85261-4900
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2026
$76,500,000
Nwb Gateway North LLC
Rreef America Reit II Corp
Bargain & Sale Deed
—
Jan 5, 2006
$33,825,000
Rreef America Reit II Corp
Amb Institutional Alliance Fun
Grant Deed
—
May 26, 1999
$6,548,654
Institutional Alliance Fun Amb
Gateway North Properties INC
Grant Deed
—
Nov 30, 1998
—
Gateway North Properties LLC
—
Deed Of Trust
related
$155,000,000 · Salomon Brothers Realty Corp
Apr 1, 1993
$9,525,000
Gateway North Seagate
Bedford
Grant Deed
$6,667,500 · Company Misc
May 10, 1988
$5,010,000
Bedford Properties INC
Rosatto
Grant Deed
$7,014,000 · Company Misc
—
—
Institutional Alliance Fun Amb
—
Deed Of Trust
related
$14,000,000 · Gateway Diablo Funding Co INC
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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