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Property profile & analytics
FOR LEASE
Retail space
2131 SW 336Th St Federal Way, WA 98023
Entity Owned
Free & Clear
Property ID
US90-0809728
For Lease
Contact for pricing
2131 SW 336Th St, Federal Way, WA 98023
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,795 SF
Lot
2.37 ac (103,423 SF)
Zoning code
BN
APN
873217-0030
UPID
US90-0809728
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
$4.95M
Owner & transaction history
Albertsons LLC
Albertsons LLC
since 2025
4 recorded transactions
Zoning & alternative use
BN · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
used 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 tha…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 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
$156 / 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
$57,461
Tax year 2022
Assessed value
$5,460,200
Assessed 2022
Previous assessed
$5,460,200
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$2,068,400
Assessed improvement
$3,391,800
Land market value
$2,068,400
Improvement market value
$3,391,800
Total market value
$5,460,200
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
For Lease
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
31,795 SF
Lot
2.37 ac (103,423 SF)
Zoning code
BN
APN
873217-0030
UPID
US90-0809728
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BN · Federal Way, WAZoning BN · permitted uses
BN · Federal Way, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
used 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. “
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 ac
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
2.37 ac
Current owner
From public records · entity-resolved
Albertsons LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 660, MINNEAPOLIS, MN 55440-0660
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2025
—
Albertsons LLC
Abs Surplus O LLC
Warranty Deed
—
Mar 28, 2013
—
Abs Surplus-o LLC
Asp Realty INC
Warranty Deed
—
Jun 22, 2006
—
Asp Realty INC
American Stores Properties LLC
Warranty Deed
—
Jan 25, 1993
—
American Stores Properties
Skaggs Propertie
Quit Claim Deed
related
—
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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