Class A Office
For Sale
Contact for pricing
2505 S 320th Street, Federal Way, WA 98003
Prime office space near future Sound Transit Station.
Property Size74,031 SF
Price / SF$0.00
Days on Market336
Property Features for 2505 S 320th Street
General Information
Standard status
Active
Size
74,031 SF
Class
B
Property subtype
Office
Lease Term
NNN
Building Details
Building Size
74,031 SF
Properties For Sale
at 2505 S 320th Street Contact us300
Size
6,704 SF
Type
Office Building
Term
Negotiable
400
Size
13,497 SF
Term
Negotiable
630
Size
3,446 SF
Type
Office Building
Term
Negotiable
Listing Agency:
NAI Puget Sound Properties
Listed By:
Mike George · License #42383
(425) 586-5618
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 1
Last Checked: Oct 23 at 4:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Puget Sound Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Centre at Federal Way is a six-story, Class-A mid-rise office building. It is located just off I-5 and within walking distance of restaurants, retail amenities, and the future Sound Transit Station. The property offers views of Mt. Rainier. The building has modern, high-quality standard finishes. An extensive capital improvement project was completed in 2018. The property contains 74,031 square feet.
Key Highlights
- Unmatched accessibility: Conveniently located off I‑5 and near the future Sound Transit Station.
- Prime location: Best office location in Federal Way with countless restaurants and retail amenities within walking distance.
- Class‑A office building: Prominent, 6‑story mid‑rise with a grand lobby.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,561,092
Suggested Prices Based on Cap Rates
Cap Rate 5%
$31,221,840
$31.2M
Cap Rate 7%
$22,301,314
$22.3M
Cap Rate 9%
$17,345,467
$17.3M
Market Conditions
NOI Build-Up for 74,031 SF
Gross rent
$2.67M $36.00/SF
− Vacancy
−$583.7K −$7.88/SF
EGI
$2.08M $28.12/SF
− OpEx
−$520.4K −$7.03/SF
NOI
$1.56M $21.09/SF
Area
King County, WA
Vacancy
21.90%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$31,221,840
Cap Rate 7%
$22,301,314
Cap Rate 9%
$17,345,467
Alternative Uses
Best Use
Office B
$22.30M
$19.51M – $26.02M
NOI $1,561,092 @ 7.0% cap · market cap 7,433,771.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.65M
$25.94M – $34.59M
NOI $2,075,592 @ 7.0% cap · market cap 9,883,771.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 98003, WA
51,751
Population
20,380
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
4,500
Density / Sq Mi
$70,800
Median Household Income
$39,497
Median Earnings
$1,650
Median Rent
$428,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Prime office space near future Sound Transit Station.
Where is this office building located?
The property is located at 2505 S 320th Street Federal Way, WA.
What are key features of this property?
This property features: Unmatched accessibility: Conveniently located off I‑5 and near the future Sound Transit Station.; Prime location: Best office location in Federal Way with countless restaurants and retail amenities within walking distance.; Class‑A office building: Prominent, 6‑story mid‑rise with a grand lobby.
