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Property profile & analytics
OFF-MARKET
Estimated value
$23,060,000
Hotels
31910 Gtwy Ctr S Blvd, Federal Way, WA 98003-5638
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1343416
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1999
Construction
CONCRETE
Total area
98,529 SF
Lot
0.95 ac (41,392 SF)
Zoning code
CC-C
APN
092104-9328
UPID
US90-1343416
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
$19.25M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.06M
Owner & transaction history
Kre Hip Court Federal Way Owner LLC · 4 yrs held
Kre Hip Court Federal Way Owner LLC
since 2021
Last sale
$23.7M
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)
$34.2M
+3.6%
Auto repair, garage
$33.9M
+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
$25,550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,850,000
6.5%
$19,245,000
7%
$17,870,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$32,985,000
Current use
APARTMENT HOUSE (5+ UNITS)
$34,160,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$33,895,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$28,355,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$23.06M
Range $20.75M – $25.37M · ±10% · vs last sale $23.72M (Oct 4 2021)
Last sale anchor
$23.72M
Oct 4 2021
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
$234 / 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
$231,683
Tax year 2022
Assessed value
$24,122,000
Assessed 2022
Previous assessed
$24,122,000
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$1,158,900
Assessed improvement
$22,963,100
Land market value
$1,158,900
Improvement market value
$22,963,100
Total market value
$24,122,000
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
1999
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
9
Total area
98,529 SF
Lot
0.95 ac (41,392 SF)
Zoning code
CC-C
APN
092104-9328
UPID
US90-1343416
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
$33.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$34.2M
AUTO REPAIR, GARAGE
Est. value
$33.9M
OFFICE BUILDING
Est. value
$28.4M
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
1999
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
9
Lot
0.95 ac
Current owner
From public records · entity-resolved
Kre Hip Court Federal Way Owner LLC
Entity
Free & Clear · 4 yrs held
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2021
$23,716,604
Kre Hip Court Federal Way Owner LLC
Ihp Federal Way Owner LLC
Bargain And Sale Deed
—
Jun 20, 2017
—
Ihp Federal Way Wa Owner LLC
—
Deed
related
$780,000,000 · Column Fin'l
Dec 11, 2014
$25,980,129
Ihp Federal Way Wa Owner LLC
Ia Orchard Hotels Federal Way LLC
Special Warranty Deed
—
Mar 7, 2012
—
State Of Wa Department/transporta
Central Puget Sound Regional T
Quit Claim Deed
related
—
Dec 21, 2007
—
Ia Orchard Hotels Federal Way LLC
Inland American Orchard Hotels INC
Warranty Deed
—
Sep 30, 2004
$12,863,000
Apple Hospitality Five INC
Federal Way Joint Venture
Grant Deed
—
Jun 9, 1998
—
Gateway Center Hotel LLC
—
Grant Deed
related
$12,140,000 · Compass Bank
—
—
Ihp Federal Way Wa Owner LLC
—
Deed Of Trust
related
$780,000,000 · Column Fin'l
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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