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Property profile & analytics

32018 23Rd Ave Federal Way, WA 98003

  • Commercial real estate
  • 26,540 SF
  • 2.01 lot acres
Value Estimation
Location Intelligence
Property ID
US90-1145959
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Commercial real estate

Property Details for 32018 23Rd Ave

Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
2.01 lot acres
Property size
26,540 SF
Zone code
CC-C
Property type
Commercial real estate
APN
162104-9028
APU
1621049028

Description

This exceptional King County retail property, Federal Way Towne Square, offers a prime opportunity for businesses seeking high visibility and convenient access. The 26,540 square foot, single-story building sits on a 2.01-acre lot (87,556 sq ft) and boasts a highly desirable location just off I-5 at the S. 320th St. exit. Currently, three retail spaces are available, totaling 4,372 square feet, or can be leased individually. Suite 32038 (1,280 sq ft), formerly occupied by Liberty Tax, and Suite 32040 (985 sq ft), formerly Vapor Cloud, are immediately available. Suite 32042 (2,107 sq ft) will become available March 1, 2025. Each space features mostly open floor plans with restrooms and convenient rear exits. Benefit from prominent signage on the building fascia and a highly visible monument sign at the lighted intersection of 320th St and 23rd Ave. Join established tenants including UW Medicine Federal Way Clinic, ATI Physical Therapy, I-5 Drive School, and Sign-A-Rama. The property is zoned CC-C and features a total of 26,540 square feet with 2,265 square feet currently vacant. Built in 1985, this property presents a unique chance to establish or expand your business in a thriving location. The APN is 162104-9028.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Federal Way
County
King
State
Washington
Longitude
-122.303
Latitude
47.3141
CBSA code
42660
CBSA name
SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$71,464
$2,364,000
$5,040,700
$7,404,700
-
$2,364,000
$5,040,700
$7,404,700
More about this property
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