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Property profile & analytics
OFF-MARKET
Estimated value
$44,185,000
Distribution centers
814 44th NW St, Auburn, WA 98001-1754
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0682126
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
204,458 SF
Lot
9.01 ac (392,281 SF)
Zoning code
M1
APN
936000-0035
UPID
US90-0682126
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
-
Belshaw Industrial Manufacturer Production Facility
-
Bellmont Cabinet Company Home Decor Store Department Store
-
TireHub Big Box & Wholesale Store
-
P C Trucking Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$38.42M
Comparable Approach
Comparable
$50.04M
Blend (final)
Blend
$44.19M
Owner & transaction history
Kw Fund Vii Auburn Park 44 LLC · 1 yrs held
Kw Fund Vii Auburn Park 44 LLC
since 2025
Last sale
$43.8M
5 recorded transactions
Zoning & alternative use
M1 · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$70.9M
+79.0%
Auto repair, garage
$70.3M
+77.6%
Office building
$59.3M
+49.8%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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
$44,960,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$41,615,000
6.5%
$38,415,000
7%
$35,670,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$39,600,000
Current use
APARTMENT HOUSE (5+ UNITS)
$70,885,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$70,335,000
Change: +78% · Conversion: Easy
OFFICE BUILDING
$59,330,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$44.19M
Range $39.77M – $48.60M · ±10% · vs last sale $43.75M (Feb 21 2025)
Last sale anchor
$43.75M
Feb 21 2025
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
$216 / 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
$423,773
Tax year 2022
Assessed value
$38,341,600
Assessed 2022
Previous assessed
$38,341,600
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$5,491,900
Assessed improvement
$32,849,700
Land market value
$5,491,900
Improvement market value
$32,849,700
Total market value
$38,341,600
Applied tax rate
202.0000
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
204,458 SF
Lot
9.01 ac (392,281 SF)
Zoning code
M1
APN
936000-0035
UPID
US90-0682126
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
M1 · Auburn, WA
Zoning M1 · permitted uses
M1 · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Auburn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$39.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$70.9M
AUTO REPAIR, GARAGE
Est. value
$70.3M
OFFICE BUILDING
Est. value
$59.3M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
9.01 ac
Current owner
From public records · entity-resolved
Kw Fund Vii Auburn Park 44 LLC
Entity
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2025
$43,750,000
Kw Fund Vii Auburn Park 44 LLC
Granite 44 Auburn Park LLC
Bargain & Sale Deed
$25,600,000 · City National Bank
May 13, 2008
$17,834,500
Granite 44 Auburn Park LLC
Auburn Park 44 Pg LLC
Grant Deed
—
Nov 7, 2007
—
City Of Auburn
Auburn Park 44 Pg LLC
Quit Claim Deed
related
—
Jul 5, 2006
$2,480,000
Auburn Park 44 Pg LLC
Neff,joseph & Dorothy
Warranty Deed
—
—
—
Auburn Park 44 Pg LLC
—
Deed Of Trust
related
$12,400,000 · Intervest Mortgage Co LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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