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Property profile & analytics
OFF-MARKET
Estimated value
$1,555,000
Retail space
1401 324th St Federal Way, WA 98003-8476
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-3369483
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,365 SF
Lot
1.2 ac (52,419 SF)
Zoning code
BC
APN
150050-0140
UPID
US90-3369483
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
$1.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.56M
Owner & transaction history
Mohammed R Baghai · 1 yrs held
Mohammed R Baghai
since 2025
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
BC · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,540,000
ML approach
$1,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.56M
Range $1.40M – $1.71M · ±10% · vs last sale $1.50M (Mar 31 2025)
Last sale anchor
$1.50M
Mar 31 2025
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
$150 / 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
$27,573
Tax year 2022
Assessed value
$2,606,200
Assessed 2022
Previous assessed
$2,606,200
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,048,300
Assessed improvement
$1,557,900
Land market value
$1,048,300
Improvement market value
$1,557,900
Total market value
$2,606,200
Applied tax rate
1,205.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
10,365 SF
Lot
1.2 ac (52,419 SF)
Zoning code
BC
APN
150050-0140
UPID
US90-3369483
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BC · Federal Way, WA
Zoning BC · permitted uses
BC · 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.
Building & site characteristics
From public records
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Mohammed R Baghai
Individual
Mailing address
1401 S 324TH ST STE #101, FEDERAL WAY, WA 98003-8476
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2025
—
Mohammed R Baghai
Killy II LLC
Quitclaim Deed
related
—
Apr 20, 2012
$1,500,000
Killy II LLC
Bustos Asset Management LLC
Warranty Deed
$1,250,000 · Bustos Asset Management LLC
Nov 13, 2006
$1,800,000
Bustos Asset Management LLC
Kim,lisa C
Warranty Deed
—
Apr 11, 2005
$1,300,000
Lisa C Kim
1732 Victoria Avenue LLC
Warranty Deed
$880,000 · Keb La Financial Corp
Mar 12, 2001
—
Federal Way City (wa)
1732 Victoria Avenue LLC
Grant Deed
related
—
Jan 3, 2000
$700,000
Leady,christopher C & Penelope
Michael,rodgers S
Trustees Deed
—
Dec 7, 1988
$384,617
S Michael&marcia Rodgers
Sutter Hill Limi
Grant Deed
—
—
—
1732 Victoria Avenue LLC
—
Deed Of Trust
related
$1,125,000 · Commerce Bank Of Washington
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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