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Property profile & analytics
OFF-MARKET
Estimated value
$9,985,000
Warehouses
3325 116th St, Tukwila, WA 98168-1974
Entity Owned
Free & Clear
Property ID
US90-0521265
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
54,181 SF
Lot
5.82 ac (253,524 SF)
Zoning code
MIC/L
APN
092304-9068
UPID
US90-0521265
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
$9.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.99M
Owner & transaction history
Nwb Gateway North LLC
Nwb Gateway North LLC
since 2026
6 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%
$9,925,000
6.5%
$9,160,000
7%
$8,505,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$16,005,000
Current use
Blend value · Realmo final
$9.99M
Range $8.99M – $10.98M · ±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
$184 / 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
$199,636
Tax year 2022
Assessed value
$18,004,800
Assessed 2022
Previous assessed
$18,004,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$7,605,700
Assessed improvement
$10,399,100
Land market value
$7,605,700
Improvement market value
$10,399,100
Total market value
$18,004,800
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
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
54,181 SF
Lot
5.82 ac (253,524 SF)
Zoning code
MIC/L
APN
092304-9068
UPID
US90-0521265
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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$16.0M
WAREHOUSE, STORAGE Current
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
5.82 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
6 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
—
Mar 27, 2000
—
Institutional Alliance Fun Amb
—
Deed Of Trust
related
$14,000,000 · Gateway Diablo Funding Co INC
May 26, 1999
$7,486,842
Institutional Alliance Fun Amb
Gateway North Properties LLC
Grant Deed
—
Nov 30, 1998
—
Gateway North Properties LLC
—
Deed Of Trust
related
$155,000,000 · Salomon Brothers Realty Corp
Oct 25, 1993
—
Gateway North Properti Seagate
Kemper Investors
Quit Claim Deed
related
—
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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