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Property profile & analytics
FOR LEASE
Distribution centers
6111 S 228Th St, Kent, WA 98032
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1182506
For Lease
1 / 4
$34,315,000
6111 S 228Th St, Kent, WA 98032
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
228,356 SF
Lot
9.91 ac (431,780 SF)
Zoning code
I1
APN
887980-0220
UPID
US90-1182506
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
-
Filson Manufacturing Warehouse & Storage
-
XGS - Seattle Trucking Company
-
Mannington Mills Distribution Center - Kent, WA Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$40.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$34.32M
Owner & transaction history
Bp Kent 217 Wa LLC · 1 yrs held
Bp Kent 217 Wa LLC
since 2024
Last sale
$44.3M
7 recorded transactions
Zoning & alternative use
I1 · Kent, 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 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%
$44,060,000
6.5%
$40,670,000
7%
$37,765,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$54,645,000
Current use
Blend value · Realmo final
$34.32M
Range $30.88M – $37.75M · ±10% · vs last sale $44.26M (Sep 26 2024)
Last sale anchor
$44.26M
Sep 26 2024
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
$150 / 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
$512,454
Tax year 2022
Assessed value
$47,983,900
Assessed 2022
Previous assessed
$47,983,900
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$8,635,600
Assessed improvement
$39,348,300
Land market value
$8,635,600
Improvement market value
$39,348,300
Total market value
$47,983,900
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Total area
228,356 SF
Lot
9.91 ac (431,780 SF)
Zoning code
I1
APN
887980-0220
UPID
US90-1182506
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Kent, WA
Zoning I1 · permitted uses
I1 · 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
$54.6M
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Lot
9.91 ac
Current owner
From public records · entity-resolved
Bp Kent 217 Wa LLC
Entity
Mailing address
PO BOX A3879, CHICAGO, IL 60690-3879
Ownership since
2024
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
Dec 26, 2024
$44,257,178
Bp Kent 217 Wa LLC
Western B Northwest Wa LLC
Special Warranty Deed
$46,667,000 · Pgim Real Estate Us Debt Fund Reit
Oct 2, 2019
—
Western B Northwest Wa LLC
—
Deed
related
—
Nov 16, 2015
—
Western B Northwest Wa LLC
Iit Kent Valley Dc II LLC
Special Warranty Deed
—
Sep 5, 2012
$17,750,000
Iit Kent Valley Dc II LLC
6111 Kent LLC
Grant Deed
—
Mar 4, 2003
—
Wold-6111 Property LLC
Wold,kevin L
Quit Claim Deed
related
—
Jun 14, 1995
—
Kevin L Wold
—
Grant Deed
related
$8,000,000 · First Interstate Bank Washingt
Dec 21, 1994
$2,050,955
Kevin L Wold
Birtcher Northwest
Grant Deed
—
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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