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Property profile & analytics
OFF-MARKET
Medical Office Space
1815 324th Pl Federal Way, WA 98003-8505
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-0063831
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1976
Construction
WOOD
Total area
2,417 SF
Lot
0.3 ac (13,282 SF)
Zoning code
BC
APN
250120-0050
UPID
US90-0063831
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1815 S 324th Place LLC · 19 yrs held
1815 S 324th Place LLC
since 2006
1 recorded transaction
Zoning & alternative use
BC · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of that dev…
Zone name
Community Business
General category
COMMERCIAL
Zone area
330.78 ac
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,145
Tax year 2022
Assessed value
$483,400
Assessed 2022
Previous assessed
$483,400
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$239,000
Assessed improvement
$244,400
Land market value
$239,000
Improvement market value
$244,400
Total market value
$483,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1976
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
2,417 SF
Lot
0.3 ac (13,282 SF)
Zoning code
BC
APN
250120-0050
UPID
US90-0063831
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BC · Federal Way, WAZoning 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
Zoning description
principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of that development, such as an entryway, lobby, courtyard, outside dining area, etc. “ Comm
Zone name
Community Business
General category
COMMERCIAL
Zone area
330.78 ac
Building & site characteristics
From public records
Year built
1976
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
1815 S 324th Place LLC
Entity
Mailing address
2203 78TH AVE SE, MERCER ISLAND, WA 98040-2124
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2006
$430,000
1815 S 324th Place LLC
Drinkard,john P
Warranty Deed
$344,000 · Bank Of America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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