Financial
Distress signals
Property profile

1200 S 324Th St Federal Way, WA 98003

FOR LEASE
Other commercial real estate
Property ID
US90-1736697
12,698 SF 1.19 ac lot Built 1989
Last sale Dec 2019 · $2,500,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 6-yr Hold Held for 6 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property is a retail space located in Neon Plaza in Federal Way, near The Commons regional mall and other national retailers. It provides approximately 450 square feet of retail area and is positioned for access from Pacific Highway, with additional access from 324th Street and 11th Place S. The site has ample on-site parking, and the surrounding roadways include Pacific Highway and 324th Street with reported traffic counts of 40,000+ vehicles per day.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$30k
Tax billed · 2022
Assessed value$2.89M
Assessed land$1.19M
Assessed improvement$1.70M
Effective rate1.03%

Value estimate

· Sep 2026
$2.99M
$2.69M – $3.29M
CAP approach$3.27M
NOI build-up
Gross scheduled income$21k
Vacancy & credit loss−$675
Operating expenses−$6k
NOI · 59,629.17% cap applied$14k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$525/SF
Submarket average, outlier-cleaned · 51 recorded sales of this use type
Observed band · Q1–Q3$162 – $884
Qualifying comparables6

Cap rate analysis

How does the asset earn?
59,629.17%
$14k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CC-F
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Storage Facility
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Storage Facility14.8
Garden Center12.3
Wholesale Shop12.0

Location

1200 S 324Th St Federal Way, WA 98003
County assessor Recorded deeds · 6 transfers 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
34428 Pacific S, Federal Way, WA 98003-7325 $2,150,000 Oct 2022 7,392 SF
1710 344th, Federal Way, WA 98003-6851 $3,650,000 Jun 2022 13,220 SF
32717 1st S, Federal Way, WA 98003-5758 $2,500,000 Dec 2019 12,185 SF
1505 328th, Federal Way, WA 98003-6334 $3,500,000 Nov 2019 18,573 SF
29100 Pacific S, Federal Way, WA 98003-3877 $3,000,000 Sep 2019 10,000 SF
27905 Pacific S, Federal Way, WA 98003-2468 $720,000 Sep 2019 6,419 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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