New search
Property profile & analytics
OFF-MARKET
Estimated value
$17,005,000
Office buildings
823 Central N Ave, Kent, WA 98032-3049
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1112186
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
62,453 SF
Lot
6.08 ac (264,801 SF)
Zoning code
I2
APN
132204-9145
UPID
US90-1112186
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
-
CosmoProf (Bike/Boat/Book/etc) Store Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.11M
Comparable Approach
Comparable
$20.22M
Blend (final)
Blend
$17.01M
Owner & transaction history
State Of Washington · 2 yrs held
State Of Washington
since 2023
7 recorded transactions
Zoning & alternative use
I2 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$27.2M
+67.3%
Medical building
$24.7M
+51.7%
Retail stores
$24.5M
+50.7%
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%
$21,785,000
6.5%
$20,110,000
7%
$18,675,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$16,260,000
Current use
AUTO REPAIR, GARAGE
$27,195,000
Change: +67% · Conversion: Difficult
MEDICAL BUILDING
$24,670,000
Change: +52% · Conversion: Easy
RETAIL STORES
$24,500,000
Change: +51% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$23,820,000
Change: +46% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$21,650,000
Change: +33% · Conversion: Easy
COMMERCIAL (GENERAL)
$19,245,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$17.01M
Range $15.30M – $18.71M · ±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
$272 / 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
$201,996
Tax year 2022
Assessed value
$18,337,000
Assessed 2022
Previous assessed
$18,337,000
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$4,369,200
Assessed improvement
$13,967,800
Land market value
$4,369,200
Improvement market value
$13,967,800
Total market value
$18,337,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
4
Stories
2
Total area
62,453 SF
Lot
6.08 ac (264,801 SF)
Zoning code
I2
APN
132204-9145
UPID
US90-1112186
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Kent, WA
Zoning I2 · permitted uses
I2 · 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
OFFICE BUILDING Current
Est. value
$16.3M
AUTO REPAIR, GARAGE
Est. value
$27.2M
MEDICAL BUILDING
Est. value
$24.7M
RETAIL STORES
Est. value
$24.5M
INDUSTRIAL (GENERAL)
Est. value
$23.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$21.7M
COMMERCIAL (GENERAL)
Est. value
$19.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Buildings
4
Lot
6.08 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Mailing address
PO BOX 41468, OLYMPIA, WA 98504-1468
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
—
State Of Washington
Fast Lane Investments 2 LLC
Lease
—
Jan 28, 2022
$21,264,140
Fast Lane Investments 2 LLC
Kent Business Campus Associates LLC
Special Warranty Deed
$13,000,000 · Bank Of America NA
Apr 2, 2001
$8,000,000
Kent Business Campus Assoc
Kent Campus Investments LLC
Grant Deed
related
—
May 3, 1999
$5,368,200
Kent Campus Investments LLC
Kent Business Campus LLC
Grant Deed
related
$4,400,000 · Lehman Capital Corp
Sep 11, 1996
—
Park LP Baldwin
Kbc Partnership
Grant Deed
related
—
—
—
Kent Busn Campus Assocs LLC
—
Deed Of Trust
related
$5,900,000 · Sun Life Assurance Co
—
—
Kent Business Campus LLC
—
Deed Of Trust
related
$145,203 · Ensr Investments INC
—
—
Central Avenue LLC
—
Deed Of Trust
related
$1,250,000 · Stancorp Mortgage Investors
—
—
Kent Business Campus LLC
—
Deed Of Trust
related
$4,329 · Cs First Boston Mortgage Capit
—
—
Kent Business Campus Assoc LLC
—
Deed Of Trust
related
$5,500,000 · Sun Life Assurance Co Canada
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?”
You own 823 Central N Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
