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    32075 Pacific Hwy Federal Way, WA 98003

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    32075 Pacific Hwy Federal Way, WA 98003

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    • Retail properties & Spaces
    • 36,345 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 32075 Pacific Hwy

    Property size
    36,345 SF
    Property type
    Retail properties & Spaces

    Description

    Located at 32075 Pacific Highway South in Federal Way, Washington (zip code 98003), Celebration Center offers 36,345 square feet of prime retail space in King County. Currently, 9,977 square feet is available for lease, divisible into units ranging from a minimum of 1,358 square feet to a maximum contiguous space of 4,000 square feet. This multi-tenant property boasts a highly visible location along a major highway, ensuring excellent exposure to a large volume of passing traffic. Its strategic position within Federal Way's thriving retail corridor provides businesses with easy access to a diverse customer base and significant growth potential. The convenient location offers easy commutes for both employees and customers due to its proximity to major transportation routes. This is an exceptional opportunity for businesses seeking a high-traffic, easily accessible location in a dynamic commercial area. The property's size and divisibility make it suitable for a variety of retail businesses, offering flexibility to accommodate different needs and scales of operation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.316
    Latitude
    47.3134

    Comparable in this City

    • Value Estimation by Request
      212,346 SF

      35009 Enchanted Pkwy

      Retail properties & Spaces • 212,346 SF
      35009 Enchanted Pkwy, Federal Way, WA 98003
      View Details
    • Value Estimation by Request
      17,954 SF

      348th 1St Ave

      Individual retail properties • 17,954 SF
      348th 1St Ave, Federal Way, WA 98003
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    • Value Estimation by Request
      26,319 SF

      31601 Pacific Hwy

      Individual retail properties • 26,319 SF
      31601 Pacific Hwy, Federal Way, WA 98003
      View Details
    • Value Estimation
      $10,465,000
      155,658 SF

      1701 320th St

      DEPARTMENT STORE • 155,658 SF
      1701 320th St, Federal Way, WA 98003
      View Details
    • Value Estimation
      $1,740,000
      12,000 SF

      30820 Pacific S Hwy

      SHOW ROOM, WAREHOUSE • 12,000 SF
      30820 Pacific S Hwy, Federal Way, WA 98003-4902
      View Details
    • Value Estimation
      $1,440,000
      7,290 SF

      33210 Pacific S Hwy

      SHOW ROOM, WAREHOUSE • 7,290 SF
      33210 Pacific S Hwy, Federal Way, WA 98003-6438
      View Details

    Similar Nearby for Sale

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      14,238 SF

      Walgreens NNN Investment Opportunity

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    • $4,000,000
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      Standalone Retail Building For Lease

      Remodeled retail building with high visibility and ample parking.
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      1,863 SF

      Federal Way Office Space Available

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      Federal Way Multifamily Opportunity

      Multifamily property for sale in Federal Way, Washington.
      28426 16Th Ave S, Federal Way, WA 98003
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      Highway 99 Commercial Property

      Commercial property located on Highway 99 available for sale.
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      50,150 SF

      Value-Add Office Building For Sale

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    Similar Nearby for Lease

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      3,993 SF

      Retail Space in Federal Way

      Retail property available for lease in Federal Way, Washington.
      31601-31811 Pacific Hwy S, Federal Way, WA 98003
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      Prime Retail Location in Federal

      Thriving retail corridor with easy access and high visibility.
      32075 Pacific Hwy South, Federal Way, WA 98003
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      2,200 SF

      Federal Way Retail Space Available

      2,200 SF retail space in Federal Way's retail core.
      1727 S 341St Pl, Federal Way, WA 98003
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    • $32 SF/Yr
      1,879 SF

      Retail Space in Federal Way

      Retail space available in a busy Federal Way shopping center.
      2500 South 320Th St, Federal Way, WA 98003
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    • Contact for pricing

      Retail Space in Federal Way

      Retail space with high visibility in a dynamic commercial corridor.
      2400 S 320Th St, Federal Way, WA 98003
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    • $20 SF/Yr

      Federal Way Automotive Shop Space

      7,950 SF shop with ample parking in Federal Way.
      34611 16Th Ave S, Federal Way, WA 98003
      View Details
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    32075 Pacific Hwy
    Federal Way, WA 98003
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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