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Property profile & analytics
OFF-MARKET
Estimated value
$3,295,000
Day care centers
1122 322nd Pl, Federal Way, WA 98003-8472
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1808879
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
1983
Construction
WOOD
Total area
6,016 SF
Lot
0.89 ac (38,584 SF)
Zoning code
CC-F
APN
150260-0030
UPID
US90-1808879
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
$3.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$3.30M
Owner & transaction history
Federal Way School LLC · 3 yrs held
Federal Way School LLC
since 2022
Last sale
$3.6M
5 recorded transactions
Zoning & alternative use
CC-F · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.8M
+47.6%
Commercial (general)
$3.2M
+22.1%
Restaurant
$3.0M
+15.9%
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
$3,210,000
ML approach
$3,220,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$2,590,000
Current use
INDUSTRIAL (GENERAL)
$3,820,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,160,000
Change: +22% · Conversion: Difficult
RESTAURANT
$3,000,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$2,375,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,085,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.30M
Range $2.97M – $3.62M · ±10% · vs last sale $3.60M (Jul 14 2022)
Last sale anchor
$3.60M
Jul 14 2022
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
$548 / 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
$13,768
Tax year 2022
Assessed value
$1,323,500
Assessed 2022
Previous assessed
$1,323,500
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$887,400
Assessed improvement
$436,100
Land market value
$887,400
Improvement market value
$436,100
Total market value
$1,323,500
Applied tax rate
1,202.0000
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
1983
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
6,016 SF
Lot
0.89 ac (38,584 SF)
Zoning code
CC-F
APN
150260-0030
UPID
US90-1808879
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CC-F · Federal Way, WA
Zoning CC-F · permitted uses
CC-F · 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.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.2M
RESTAURANT
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Federal Way School LLC
Entity
Mailing address
764 NE 206TH TER, MIAMI, FL 33179-2430
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
$3,602,817
Federal Way School LLC
Fortis I LLC
Special Warranty Deed
$2,152,817 · Matzliach Investments Limited
Jul 13, 2022
$2,100,000
Fortis I LLC
Childrens Dream Learning Center INC
Special Warranty Deed
—
Apr 21, 2004
$888,000
Childrens Dream Learning Ctr
Mesher,jerome L & Joyce F
Grant Deed
$620,000 · Wilshire State Bank
Sep 27, 1996
$840,000
Jerome L Mesher
Vomc Co INC
Grant Deed
$40,000 · Seller
Oct 12, 1993
$755,000
Vomc Co INC
First Pioneer Re
Grant Deed
$500,000 · Standard Insurance Co
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.
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