8208 State Highway 104 NE Kingston, WA 98346
Retail space
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Entity Owned
18-yr Hold
~
Est. High Equity
For Lease
1 / 2
Contact for pricing
8208 State Highway 104 NE, Kingston, WA 98346
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Estimated value (blended)
$2.10M
Range $1.89M – $2.30M (±10%)
Property ID
US90-1416734
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Total area
9,750 SF
Lot
1.11 ac (48,352 SF)
Zoning code
NC
APN
222702-3-032-2003
UPID
US90-1416734
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$2.10M
Owner & transaction history
since 2008
5 recorded transactions
Zoning & alternative use
NC · Kingston, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.10M
Value range
$1.89M – $2.30M
±10% around blend
Estimated value / SF
$215 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$1.89M
blend $2.10M
$2.30M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,750 SF
Lot area
1.11 ac
Year built
1999
Stories
1
APN
222702-3-032-2003
Assessed value
$3,102,380
Annual tax
$26,857
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.74M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.89M
@ 6.5% CAP return
$1.74M
@ 7% CAP return
$1.62M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$26,857
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$4.61M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
14.0 mi away · 9,920 SF
15.9 mi away · 8,095 SF
17.2 mi away · 7,000 SF
17.5 mi away · 9,100 SF
18.2 mi away · 12,336 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.10M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 88 sales
$275
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $215/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
115,920.83%
Selected cap rate for this retail space
Derived from the Kingston market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$28k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$24
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
115,920.33%115,920.83%115,921.33%
$25k
$21
$21
$21
$28k
$24
$24
$23
$31k
$26
$26
$26
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$4.60M
11.1 mi · Aug 2025 · $420/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$26,857
Tax year 2024
Assessed value
$3,102,380
Assessed 2024
Previous assessed
$3,102,380
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$250,550
Assessed improvement
$2,851,830
Land market value
$250,550
Improvement market value
$2,851,830
Total market value
$3,102,380
Applied tax rate
4,230.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1999
Heating
YES
Stories
1
Total area
9,750 SF
Lot
1.11 ac (48,352 SF)
Zoning code
NC
APN
222702-3-032-2003
UPID
US90-1416734
Jurisdiction
KITSAP
Zoning & alternative use
NC · Kingston, WAZoning NC · permitted uses
NC · Kingston, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
YES
Stories
1
Lot
1.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
NC
Jurisdiction
Kingston, WA
Recorded code
NC
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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