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Property profile & analytics
OFF-MARKET
Estimated value
$5,520,000
Warehouses
6051 194th St, Kent, WA 98032-1191
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0050051
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,289 SF
Lot
1.43 ac (62,280 SF)
Zoning code
I2
APN
788880-0500
UPID
US90-0050051
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
-
Obscure Tech LLC Electronics & Wireless Store
-
Dae Han Supply Warehouse & Storage
-
Mode Transportation Freight Service Logistics Company
-
Mike Jones & Sons Tree Service Seattle Landscaping General Contractor
-
All Freight Solutions Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.30M
CAP Approach
CAP
$4.51M
Comparable Approach
Comparable
$6.58M
Blend (final)
Blend
$5.52M
Owner & transaction history
Nex LLC · 3 yrs held
Nex LLC
since 2023
Last sale
$5.7M
3 recorded transactions
Zoning & alternative use
I2 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.8M
+44.9%
Commercial (general)
$7.8M
+28.8%
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
$5,415,000
ML approach
$5,300,000
CAP Approach
CAP Return
Estimation
6%
$4,880,000
6.5%
$4,505,000
7%
$4,180,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,050,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,765,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,790,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$5.52M
Range $4.97M – $6.07M · ±10% · vs last sale $5.68M (Jun 1 2023)
Last sale anchor
$5.68M
Jun 1 2023
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
$218 / 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
$49,301
Tax year 2022
Assessed value
$4,592,500
Assessed 2022
Previous assessed
$4,592,500
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,479,100
Assessed improvement
$3,113,400
Land market value
$1,479,100
Improvement market value
$3,113,400
Total market value
$4,592,500
Applied tax rate
1,526.0000
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
2
Total area
25,289 SF
Lot
1.43 ac (62,280 SF)
Zoning code
I2
APN
788880-0500
UPID
US90-0050051
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Kent, WA
Zoning I2 · permitted uses
I2 · 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
WAREHOUSE, STORAGE Current
Est. value
$6.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.8M
COMMERCIAL (GENERAL)
Est. value
$7.8M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
1.43 ac
Current owner
From public records · entity-resolved
Nex LLC
Entity
Mailing address
23322 SE 26TH PL, SAMMAMISH, WA 98075-6011
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2023
$5,680,000
Nex LLC
Yates Holdings LLC
Warranty Deed
—
Dec 21, 2022
—
Yates Holdings LLC
—
Deed
related
$1,530,000 · Seattle Funding Group Ltd
—
—
Binaf Investments LLP
—
Deed Of Trust
related
$900,000 · Commerce Bank Of Washington
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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