17016 SE Wax Rd, Covington, WA 98042

Commercial · Covington · Seattle-Bellevue metro, WA

Imagery suggests: mid-rise apartments, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 38 reachable commercial buildings in Covington. Larger than 82% of commercial buildings in Covington (median 19,940 SF), derived from assessor records.

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Building size
71,254 SF, King County Assessor
Lot size
75,941 SF, King County Assessor
Year built
2021, King County Assessor
Stories
4, King County Assessor
Predominant use
Il, Ac, Mc, King County Assessor
Units
89, King County Assessor
Assessed value
$15,372,600, per the King County Assessor (not a market appraisal)
Assessed value per building SF
$215.74/SF, derived from assessor records
Lot coverage
94%, derived from assessor records
Vintage
2020s vintage
Zoning
TC, King County
County use code
Retirement Facility
Construction (observed)
wood frame, AI estimate from public imagery
Parking (observed)
surface lot, AI estimate from public imagery
Frontage (observed)
mid block, AI estimate from public imagery

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: $16,521,407 (estimated market value), with a likely range of $14,000,206 to $19,989,328 (half of recent verified sales in this segment landed inside that range). Based on 33 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2020 (about 6 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

$6.18M$12.4M$18.5M$24.7M202120222023202420252026County appraised valueEstimated value (modeled range)

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $1,518,800 (2021) to $15,372,600 (2026), up 912% over 5 years, per county tax rolls. The 2026 roll splits $15,372,600 into $1,746,600 land and $13,626,000 improvements.

Taxes

Permit history

Source: King County permit records (newest first).