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Property profile & analytics
OFF-MARKET
Distribution centers
6838 234th St Kent, WA 98032-2904
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-3321464
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
178,400 SF
Lot
15.2 ac (662,112 SF)
Zoning code
I1
APN
132204-9062
UPID
US90-3321464
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
-
LSI Labeling Clothing Store Professional Services
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bp Kent 304 Wa LLC · 1 yrs held
Bp Kent 304 Wa LLC
since 2024
Last sale
$70.9M
5 recorded transactions
Zoning & alternative use
I1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I1 industrial business district consists of areas of high opportunity for the city in terms of employment, revenue, and placemaking
Zone name
Industrial Business
General category
INDUSTRIAL
Zone area
1,776.37 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$554,932
Tax year 2022
Assessed value
$51,063,800
Assessed 2022
Previous assessed
$51,063,800
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$11,593,500
Assessed improvement
$39,470,300
Land market value
$11,593,500
Improvement market value
$39,470,300
Total market value
$51,063,800
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
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
178,400 SF
Lot
15.2 ac (662,112 SF)
Zoning code
I1
APN
132204-9062
UPID
US90-3321464
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Kent, WAZoning I1 · permitted uses
I1 · Kent, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I1 industrial business district consists of areas of high opportunity for the city in terms of employment, revenue, and placemaking
Zone name
Industrial Business
General category
INDUSTRIAL
Zone area
1,776.37 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
15.2 ac
Current owner
From public records · entity-resolved
Bp Kent 304 Wa LLC
Entity
Mailing address
600 W 108TH AVE NE STE #340, BELLEVUE, WA 98004-5110
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2024
$70,850,000
Bp Kent 304 Wa LLC
Ppf Industrial 6838 South 234th Str
Special Warranty Deed
$47,155,000 · Prudential Insurance Of America
Nov 21, 2017
—
City Of Kent
Ppf Indl 6838 South 234th Str
Quit Claim Deed
related
—
May 10, 2012
$10,500,000
Ppf Industrial 6838 South 234t
Puget Prime Properties LLC
Grant Deed
related
—
Mar 11, 2005
$8,650,000
Puget Prime Properties LLC
Gateway Olympia INC
Grant Deed
$6,525,000 · East West Bank
Aug 1, 2001
—
Gateway Olympia INC
—
Deed Of Trust
related
$30,000,000 · Allstate Life Insurance Co
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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