Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,260,000
Medical Office Space
34617 11th S Pl Federal Way, WA 98003-8706
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1660429
Property summary
AI-generated overview
Wellness Plaza is a distinguished Class A medical office building totaling 21,098 square feet, situated on a 0.88-acre lot (38,145 square feet) in King County. Built in 1981 and extensively renovated in 2022, this multi-tenant property offers immediate occupancy in five available suites ranging from 811 to 7,617 contiguous square feet. The building boasts a modern, technologically advanced main lobby. Ample free parking is available with a generous 6.90/1,000 SF ratio, totaling 97 spaces. Its convenient location offers easy access to public transportation, with a metro bus route just one block away, and a park and ride also within a block. The property benefits from state-of-the-art telecommunication services provided by CenturyLink and Comcast. Its strategic location places it five blocks from St. Francis Hospital and just five minutes from the Rhododendron Species Garden, providing a desirable setting for medical professionals and their patients. The property is zoned OP, Federal Way, and its APN is 215470-0110.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,200 SF
Lot
0.88 ac (38,144 SF)
Zoning code
OP
APN
215470-0110
UPID
US90-1660429
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.26M
Owner & transaction history
Landitrust LLC · 5 yrs held
Landitrust LLC
since 2021
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
OP · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Federal Way submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Federal Way 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
$2,370,000
ML approach
$2,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.26M
Range $2.03M – $2.49M · ±10% · vs last sale $2.20M (May 28 2021)
Last sale anchor
$2.20M
May 28 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
$97 / 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
$24,907
Tax year 2022
Assessed value
$2,416,800
Assessed 2022
Previous assessed
$2,416,800
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$457,700
Assessed improvement
$1,959,100
Land market value
$457,700
Improvement market value
$1,959,100
Total market value
$2,416,800
Applied tax rate
1,205.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Total area
23,200 SF
Lot
0.88 ac (38,144 SF)
Zoning code
OP
APN
215470-0110
UPID
US90-1660429
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP · Federal Way, WA
Zoning OP · permitted uses
OP · Federal Way, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Federal Way. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Lot
0.88 ac
Current owner
From public records · entity-resolved
Landitrust LLC
Entity
Mailing address
3818 33RD AVE W, SEATTLE, WA 98199-1606
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2025
—
Landitrust LLC
—
Deed
related
$800,000 · Washington State Employees Cu
May 28, 2021
$2,200,000
Landitrust LLC
Hazelett Family LLC II
Warranty Deed
$500,000 · Hazlett Family LLC II
Apr 28, 2003
$2,750,000
Hazelett Family LLC II
Stump,harold & Regina
Grant Deed
$2,000,000 · Harold & Regina Stump
Jul 8, 1993
$1,600,000
Harold Stump
Old
Grant Deed
related
$1,264,000 · Old Stone Bank
Apr 2, 1990
$1,750,000
Old Stone Bank
King
Grant Deed
related
—
—
—
Hazelett Family LLC II
—
Deed Of Trust
related
$1,695,000 · Watermark Cu
—
—
Harold Stump
—
Deed Of Trust
related
$865,000 · Seafirst Bank
—
—
Hazelett Family LLC II
—
Deed Of Trust
related
$2,178,618 · Frontier Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 34617 11th S Pl?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
