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    33400 8Th Ave Federal Way, WA 98003

    Sponsored
    For Sale
    $7,000,000

    Executive Suites, High Cap Rate, 50,150 SF

    Property size:
    50,150 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Park Center, located at 33400 8th Ave S in Federal Way, WA 98003, presents a compelling investment opportunity. This two-story, 50,150 square foot executive office building, constructed in 1981 and extensively renovated in 2020, sits on a 3.11-acre lot (135,633 square feet) within King County. The property boasts 228 parking spaces and is zoned OP - Office Park. Currently, the building has a 24.79% occupancy rate, offering significant potential for value-add improvements or owner-occupancy. The asking price is $7,000,000, translating to $160.32 per square foot. With a Net Operating Income (NOI) of $171,082.36, the property exhibits a strong 9.65% capitalization rate. This presents a rare chance to acquire a substantial office building in a desirable location with significant upside potential. The property's size, ample parking, and recent renovations make it an attractive prospect for both investors seeking high returns and businesses looking for a prominent presence in Federal Way. The APN is 926500-0110.

    Property Features for 33400 8Th Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    50,150 SF
    Lot Size
    135,472 SF

    Building Details

    Year Built/Renovated
    1981/2020
    Buildings
    1
    Stories
    2

    HighLights

    • $7,000,000 asking price for a 50,150 square foot office building.
    • 9.65% cap rate with a $171,082.36 NOI.
    • Located in Federal Way, WA, at 33400 8th Ave S, on a 3.11‑acre lot.
    • Features 228 parking spaces and is zoned OP - Office Park.
    • Two‑story building, built in 1981 and renovated in 2020.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.3244308
    Latitude
    47.3039053

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    FAQs

    What type of property is this?
    Office Property / Space - Executive Suites, High Cap Rate, 50,150 SF
    Where is this office property / space located?
    The property is located at 33400 8Th Ave Federal Way, WA.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: $7,000,000 asking price for a 50,150 square foot office building.; 9.65% cap rate with a $171,082.36 NOI.; Located in Federal Way, WA, at 33400 8th Ave S, on a 3.11-acre lot.
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    Federal Way, WA 98003
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    33400 8Th Ave Federal Way, WA 98003
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