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Property profile & analytics
OFF-MARKET
Estimated value
$1,780,000
Warehouses
8901 228th St Kent, WA 98031-1833
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1770811
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
STEEL FRAME
Total area
6,000 SF
Lot
1 ac (43,578 SF)
Zoning code
I1
APN
182205-9250
UPID
US90-1770811
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
-
Vend Plus Inc Big Box & Wholesale Store
-
Washington Generators LLC Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.73M
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$1.78M
Owner & transaction history
Washgen Re LLC · 4 yrs held
Washgen Re LLC
since 2021
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
I1 · Kent, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+77.5%
Medical building
$2.4M
+52.7%
Retail stores
$2.4M
+51.6%
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
$1,885,000
ML approach
$1,730,000
CAP Approach
CAP Return
Estimation
6%
$1,160,000
6.5%
$1,070,000
7%
$990,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,555,000
Current use
AUTO REPAIR, GARAGE
$2,755,000
Change: +77% · Conversion: Easy
MEDICAL BUILDING
$2,370,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$2,355,000
Change: +52% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,290,000
Change: +47% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,080,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,075,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$1.78M
Range $1.60M – $1.96M · ±10% · vs last sale $1.75M (Oct 1 2021)
Last sale anchor
$1.75M
Oct 1 2021
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
$297 / 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
$31,637
Tax year 2022
Assessed value
$1,658,100
Assessed 2022
Previous assessed
$1,658,100
+0.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$631,800
Assessed improvement
$1,026,300
Land market value
$631,800
Improvement market value
$1,026,300
Total market value
$1,658,100
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
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
STEAM
Stories
1
Total area
6,000 SF
Lot
1 ac (43,578 SF)
Zoning code
I1
APN
182205-9250
UPID
US90-1770811
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Kent, WA
Zoning I1 · permitted uses
I1 · 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
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.4M
RETAIL STORES
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
WAREHOUSE, STORAGE 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
STEEL FRAME
Heating
STEAM
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Washgen Re LLC
Entity
Mailing address
19531 33RD DR SE, BOTHELL, WA 98012-8087
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2021
$1,750,000
Washgen Re LLC
E&m Electric LLC
Bargain And Sale Deed
$3,525,000 · Live Oak Banking Company
Sep 28, 2020
$1,650,000
E&m Electric LLC
Terry LLC
Special Warranty Deed
$1,402,500 · First Citizens Bank & Trust Co
Sep 28, 2020
—
Terry LLC
Cascade Gasket & Mfg Co INC
Correction Deed
related
—
Feb 27, 2018
$790,000
Cascade Gasket & Mfg Co INC
Ensberg,erik D
Grant Deed
—
Dec 24, 2013
—
Terry LLC
Cascade Gasket & Mfg Co INC
Quit Claim Deed
related
—
May 31, 2013
$790,000
Cascade Gasket & Mfg Co INC
Ensberg,erik D
Warranty Deed
—
Jun 4, 1997
$465,000
Erik D Ensberg
Western General Construction
Grant Deed
$415,000 · Chapman Trust
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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