16101 SE 278th St, Covington, WA 98042

Small-Bay Industrial · Covington · Seattle-Bellevue metro, WA

One of 8 reachable small-bay industrial buildings in Covington. Larger than 88% of small-bay industrial buildings in Covington (median 14,724 SF), derived from assessor records.

Usable building area
247,502 SF, King County Assessor
Lot size
882,075 SF, King County Assessor
Year built
2025, King County Assessor
Stories
1, King County Assessor
Predominant use
Warehouse, King County Assessor
Assessed value
$50,787,300, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$205.20/SF, derived from assessor records
Usable area / lot
0.28, derived from assessor records
Vintage
2020s vintage
Zoning
GC, King County
County use code
Warehouse

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $62.2M (estimated market value), with a likely range of $51M to $70.2M (half of recent verified sales in this segment landed inside that range). Based on 8 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.

lower confidence: 0 comparable sales within 3 miles; nearest 5.3 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $11,195,732 in 2023; the estimate is about 455% apart. Treat the recorded trade as strong evidence alongside the model.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Last sold: 2023-07-12 for $11,195,732 (recorded arm's-length sale).

Current ownership dates to 2023 (about 3 years) per recorded transfers.

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$20M$40M$60M$80M201120142017202020232026$12.2M$4MLast sold $11.2M · 2023$62.2M$50.8MCounty assessed valueMakeMe Estimate rangeRecorded sale

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $1,114,600 (2011) to $50,787,300 (2026), up 4457% over 15 years, per county tax rolls. The 2026 roll splits $50,787,300 into $11,643,300 land and $39,144,000 improvements.

Taxes

Permit history

Source: King County permit records (newest first).