New search
Property profile & analytics
FOR LEASE
Warehouses
7801 S 202Nd St, Kent, WA 98032
Entity Owned
Free & Clear
Property ID
US90-0971180
For Lease
$8,080,000
7801 S 202Nd St, Kent, WA 98032
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,000 SF
Lot
12.05 ac (524,695 SF)
Zoning code
I3
APN
631500-0300
UPID
US90-0971180
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
$8.76M
CAP Approach
CAP
$8.02M
Comparable Approach
Comparable
$8.11M
Blend (final)
Blend
$8.08M
Owner & transaction history
City Of Kent
City Of Kent
since 2025
7 recorded transactions
Zoning & alternative use
I3 · 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
$8,115,000
ML approach
$8,755,000
CAP Approach
CAP Return
Estimation
6%
$8,685,000
6.5%
$8,015,000
7%
$7,440,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,770,000
Current use
Blend value · Realmo final
$8.08M
Range $7.27M – $8.89M · ±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
$180 / 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
$642,630
Tax year 2022
Assessed value
$2,761,800
Assessed 2022
Previous assessed
$2,761,800
+0.0% YoY
Effective rate
23.27%
On assessed value
Assessed land
$2,760,800
Assessed improvement
$1,000
Land market value
$2,760,800
Improvement market value
$1,000
Total market value
$2,761,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
45,000 SF
Lot
12.05 ac (524,695 SF)
Zoning code
I3
APN
631500-0300
UPID
US90-0971180
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I3 · Kent, WA
Zoning I3 · permitted uses
I3 · 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
$10.8M
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
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
12.05 ac
Current owner
From public records · entity-resolved
City Of Kent
Entity
Free & Clear · 0 yrs held
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2025
—
City Of Kent
7730 202nd Street LLC
Warranty Deed
—
Dec 20, 2024
—
7730 202 Street LLC
—
Deed
related
$25,125,000 · Mesa West Real Estate Income Fund V Hold
Jul 3, 2023
$8,510,000
7730 202nd Street LLC
John P Lyon JR
Bargain And Sale Deed
—
May 11, 2022
—
John P Lyon JR
John P Lyon
Correction Deed
related
—
May 9, 2022
—
Nace Halpin
Abc Pacific Corporation
Deed
—
Mar 9, 2016
—
Lyon,john P & Gloria Living Trust
John P Lyon
Quit Claim Deed
related
—
Mar 1, 2016
—
Halpin,donna Living Trust
Donna Halpin
Quit Claim Deed
related
—
Dec 16, 2009
—
Nace Halpin
Abc-pacific Corp
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
