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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Office buildings
2025 341st Pl Federal Way, WA 98003-6861
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-3258685
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
WOOD
Total area
4,150 SF
Lot
0.9 ac (39,327 SF)
Zoning code
CE
APN
212104-9048
UPID
US90-3258685
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
$910k
Owner & transaction history
Drexel Skyway LLC · 6 yrs held
Drexel Skyway LLC
since 2019
7 recorded transactions
Zoning & alternative use
CE · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+19.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,195,000
Current use
AUTO REPAIR, GARAGE
$1,430,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,140,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$1,100,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10%
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
$219 / 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
$12,524
Tax year 2022
Assessed value
$1,096,300
Assessed 2022
Previous assessed
$1,096,300
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$471,900
Assessed improvement
$624,400
Land market value
$471,900
Improvement market value
$624,400
Total market value
$1,096,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
4,150 SF
Lot
0.9 ac (39,327 SF)
Zoning code
CE
APN
212104-9048
UPID
US90-3258685
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CE · Federal Way, WA
Zoning CE · permitted uses
CE · 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
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
1988
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.9 ac
Current owner
From public records · entity-resolved
Drexel Skyway LLC
Entity
Mailing address
1900 S PUGET DR STE #203, RENTON, WA 98055-4418
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2019
—
Drexel Skyway LLC
—
Deed
related
$613,250 · Liberty Cp2 Spv LP
Aug 21, 2019
$1,200,000
Drexel Skyway LLC
Kempwald Ents LLC
Warranty Deed
$613,250 · Liberty Cp2 Spv LP
Sep 5, 2014
$515,000
Kempwald Ents LLC
Skyline Group LLC
Grant Deed
$540,000 · Bank Of America
Jun 26, 2012
$350,000
Skyline Group LLC
Sterling Svgs Bk
Grant Deed
—
May 1, 2012
$348,822
Sterling Svgs Bk
Td Service Co Of Washington
Trustees Deed
related
—
Feb 27, 2006
$650,000
A Kalchik Realty LLC
Rogers G E Family Trust
Warranty Deed
$579,473 · Sterling Savings Bank
Mar 4, 2005
$122,950
Rogers Galen E Tr
Rogers Galen E
Quit Claim Deed
related
—
Sep 9, 1994
$385,000
Rogers Trust
Motland Investments
Grant Deed
$300,000 · Individual
May 2, 1988
—
Motland Investments
Motland,grace
Quit Claim Deed
related
—
—
—
Drexel Skyway LLC
—
Deed Of Trust
related
$613,250 · Liberty Cp2 Spv LP
—
—
Skyline Group LLC
—
Deed Of Trust
related
$312,553 · Columbia State Bank
—
—
Rogers,tr
—
Deed Of Trust
related
$255,000 · Bank Of America
—
—
A Kalchik Realty LLC
—
Deed Of Trust
related
$246,000 · Rural Housing & Community Dev
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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