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Property profile & analytics
OFF-MARKET
Estimated value
$18,780,000
Hotels
31720 Gtwy Blvd, Federal Way, WA 98003
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0669528
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2010
Construction
FRAME
Total area
86,999 SF
Lot
2.35 ac (102,212 SF)
Zoning code
CC-C
APN
092104-9185
UPID
US90-0669528
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
$17.00M
Comparable Approach
Comparable
$14.06M
Blend (final)
Blend
$18.78M
Owner & transaction history
Breit Federal Way Trs LLC · 2 yrs held
Breit Federal Way Trs LLC
since 2024
7 recorded transactions
Zoning & alternative use
CC-C · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$30.2M
+3.6%
Auto repair, garage
$29.9M
+2.8%
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%
$18,410,000
6.5%
$16,995,000
7%
$15,780,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$29,125,000
Current use
APARTMENT HOUSE (5+ UNITS)
$30,160,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$29,930,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$25,035,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$18.78M
Range $16.90M – $20.66M · ±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
$216 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$299,957
Tax year 2024
Assessed value
$27,434,300
Assessed 2023
Previous assessed
$27,434,300
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,861,900
Assessed improvement
$24,572,400
Land market value
$2,861,900
Improvement market value
$24,572,400
Total market value
$27,434,300
Applied tax rate
1,202.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2010
Construction
FRAME
Heating
GAS
Cooling
AC.PACKAGE
Stories
5
Total area
86,999 SF
Lot
2.35 ac (102,212 SF)
Zoning code
CC-C
APN
092104-9185
UPID
US90-0669528
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CC-C · Federal Way, WA
Zoning CC-C · permitted uses
CC-C · 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
HOTEL/MOTEL Current
Est. value
$29.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$30.2M
AUTO REPAIR, GARAGE
Est. value
$29.9M
OFFICE BUILDING
Est. value
$25.0M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2010
Construction
FRAME
Heating
GAS
Cooling
Yes
Stories
5
Lot
2.35 ac
Current owner
From public records · entity-resolved
Breit Federal Way Trs LLC
Entity
Mailing address
345 PARK AVE, NEW YORK, NY 10154-0004
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2024
—
Breit Federal Way Trs LLC
Federal Way Property Owner LLC
Deed
—
Aug 16, 2019
—
Breit Federal Way Property Owner Ll
—
Deed
related
$415,000,000 · Goldman Sachs Bank USA
Oct 17, 2018
$33,116,600
Breit Fedl Way Prop Owner LLC
Royal Hospitality LLC
Warranty Deed
—
Jun 28, 2016
—
Royal Hospitality LLC
—
Deed
related
—
Feb 25, 2011
—
Royal Hospitality LLC
—
Deed Of Trust
related
$13,000,000 · Pacific International Bank
Aug 10, 2005
$600,000
Royal Hospitality LLC
Mastro,michael R
Warranty Deed
$400,000 · Michael R Mastro
Oct 1, 2004
—
Michael R Mastro
Federal Way Jv
Grant Deed
$2,286,700 · Washington First Int'l Bank
Aug 12, 2004
—
Central Puget Sound Regional T
Qwest Corp
Quit Claim Deed
related
—
Mar 19, 2004
—
Central Puget Sound Regional
Weyerhaeuser Co
Quit Claim Deed
related
—
—
—
Royal Hospitality LLC
—
Loan Modification
related
—
—
—
Royal Hospitality LLC
—
Deed Of Trust
related
$12,885,000 · East West Bank
—
—
Royal Hospitality LLC
—
Loan Modification
related
—
—
—
Way Joint Venture Federal
—
Deed Of Trust
related
$600,000 · Washington First International
—
—
Way Joint Venture Federal
—
Deed Of Trust
related
$377,500 · Macri Investment Co LLC
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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