Seattle · Commercial sale

Vfii Sea Second Avenue buys 1200 2nd Ave N in Kent for $10.49 million

A warehouse at 1200 2nd Ave N, Kent sold for $10,487,000 on September 24, 2026. See the seller and buyer net sheets for this sale.

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Automated sale report from public sales records · How we make these · Published October 27, 2026

Sold September 24, 2026 · King County, Washington

Aerial view of 1200 2nd Ave N, Kent with the parcel outlined — Aerial photo: U.S. Geological Survey. Parcel outline: King County Assessor. The photo can predate the sale.

Sale price: $10,487,000
Sold: September 24, 2026
Property type: Warehouse
Lot size: 235,224 sq ft

Seller and buyer net sheets for this sale

Seller Buyer

NetSheet.orgSeptember 24, 2026

Seller's estimated net sheet

1200 2nd Ave N, Kent

Sale price	$10,487,000
Title and settlement
Owner's title insurance policy	$21,250.30
Escrow fee	$700
Transfer taxes and recording
State real estate excise tax (graduated)	$283,685
Local real estate excise tax (0.50%)	$52,435
REET technology fee	$5
Prorations
Property tax proration (seller owes)	$22,238.19
Other costs
Wire / courier / payoff processing	$60
Total deductions	$380,373.49
Estimated net to seller	$10,106,626.51

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NetSheet.orgSeptember 24, 2026

Buyer's estimated net sheet

1200 2nd Ave N, Kent

Purchase price (cash)	$10,487,000
Title and settlement
Escrow fee	$700
Transfer taxes and recording
Deed recording fee	$304.50
Credits
Property tax credit from seller	$22,238.19
Closing costs and prepaids	$1,004.50
Estimated cash to close	$10,465,766.31

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What these figures assume

No brokerage commission is shown: commissions on commercial deals vary and are not in the public record.
The seller figure is before any loan payoff.
The buyer side assumes a cash purchase with no financing.
REET technology fee: $5 per affidavit (confidence medium)
Annual property tax estimated at 0.90% of price ($94,383).
Title and settlement fees are typical estimates, not quotes.

Selling in Kent?

A warehouse at 1200 2nd Ave N in Kent sold for $10,487,000 on September 24, 2026, according to the King County Department of Assessments' sales records.

Assessor's records show a 5.4-acre lot and a market value of $17,569,300. The sale price was 40% below that value.

The sales record lists IC Industrial REIT as the seller and Vfii Sea Second Avenue LLC as the buyer.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in King County?

By our estimate, the seller's two largest charges, not counting prorations, were $283,685 for the state real estate excise tax (graduated) and $52,435 for the local real estate excise tax (0.50%). Who pays what follows King County custom.

How much did the seller net?

By our estimate, the seller netted about $10,106,627. That is before any broker commissions and any loan payoff.

How much cash did the buyer bring to closing?

A cash buyer would need about $10,465,766 at closing. That covers the full price and closing costs.

Run this net sheet with your numbers (free)

1200 2nd Ave N, Kent, WA.

Source: King County Department of Assessments, real property sales, document 3396416. Property details: King County Assessor. Net sheets are estimates from the NetSheet.org rules engine, not the parties' actual closing statements. Request a correction or removal.