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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1710 344th St Federal Way, WA 98003-6851

    • Showrooms
    • 13,220 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2022
    $3,650,000
    Value Estimations
    $3,450,000
    Show details
    Cap Rate Potential
    6.8%
    Showrooms
    Location Intelligence
    Property ID
    US90-1369967
    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

    • Showrooms

    Property Details for 1710 344th St

    Year built
    2007
    Construction
    STEEL FRAME
    Lot size
    1.03 lot acres
    Property size
    13,220 SF
    Zone code
    CE
    Property type
    Showrooms
    APN
    212104-9018
    APU
    2121049018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,250,000
      ML approach
      $3,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,680,000
      6.5%
      $3,400,000
      7%
      $3,155,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.311
    Latitude
    47.294
    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
    $24,942
    $672,300
    $1,738,700
    $2,411,000
    -
    $672,300
    $1,738,700
    $2,411,000

    Comparable in this City

    • 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
    • Value Estimation
      $660,000
      3,485 SF

      29625 Pacific S Hwy

      CONVENIENCE STORE • 3,485 SF
      29625 Pacific S Hwy, Federal Way, WA 98003-4232
      View Details
    • Value Estimation
      $16,185,000
      119,143 SF

      32057 Pacific S Hwy

      RETAIL STORES (PERSONAL SERVICES) • 119,143 SF
      32057 Pacific S Hwy, Federal Way, WA 98003
      View Details
    • Value Estimation by Request
      7,500 SF

      914 348th St

      FINANCIAL BUILDING • 7,500 SF
      914 348th St, Federal Way, WA 98003-7021
      View Details
    • Value Estimation
      $2,770,000
      19,104 SF

      35025 Enchanted S Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 19,104 SF
      35025 Enchanted S Pkwy, Federal Way, WA 98003-8378
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Federal Way Commercial Land

      High-traffic location, development potential.
      35425 Enchanted Pkwy, Federal Way, WA 98003
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      Land For Sale

      Land available for sale in Federal Way, Washington.
      2105 S 320Th St SW, Federal Way, WA 98003
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    • $2,500,000
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      Federal Way Office Building

      Office building for sale in Federal Way, Washington.
      918 S 348Th St, Federal Way, WA 98003
      View Details
    • $195,000
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      Updated Double-Wide Manufactured Home

      Updated 3-bedroom, move-in ready home with remodeled kitchen and bathrooms.
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      Spacious Townhome in Gated Community

      3-bed, 2.5-bath townhome with lush backyard and convenient location.
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    Similar Nearby for Lease

    • Contact for pricing
      2,834 SF

      Federal Way Retail Space Available

      Retail space available for lease in Federal Way, Washington.
      32011-32081 Pacific Hwy S, Federal Way, WA 98003
      View Details
    • $14 SF/Yr
      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
      View Details
    • $32 SF/Yr
      5,940 SF

      Retail Space in Federal Way

      Retail space available in a busy Federal Way shopping center.
      2500 South 320Th St, Federal Way, WA 98003
      View Details
    • $13 SF/Yr
      1,084 SF

      Retail Space in Twin Lakes Village

      Retail space for lease in a high-traffic shopping center.
      2120-2324 SW 336Th St, Federal Way, WA 98003
      View Details
    • $1,330 /Mo
      1,330 SF

      Retail Space in Federal Way

      Retail space available for lease in Federal Way, WA.
      33110 Pacific Hwy S, Federal Way, WA 98003
      View Details
    • $4,500,000
      9,998 SF

      Standalone Retail Building For Lease

      Remodeled retail building with high visibility and ample parking.
      30650 Pacific Hwy S, Federal Way, WA 98003
      View Details
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    1710 344th St
    Federal Way, WA 98003-6851
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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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