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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Retail space
32818 Pacific S Hwy Federal Way, WA 98003-6408
Trust Owned
9-yr Hold
Free & Clear
Property ID
US90-0912466
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,000 SF
Lot
1.14 ac (49,602 SF)
Zoning code
BC
APN
797880-0040
UPID
US90-0912466
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
$1.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Elsdon,robert & Paula Trust · 9 yrs held
Elsdon,robert & Paula Trust
since 2016
6 recorded transactions
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
Top alternative use upside
Auto repair, garage
$2.1M
+29.8%
Office building
$1.7M
+8.5%
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%
$1,790,000
6.5%
$1,650,000
7%
$1,535,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,590,000
Current use
AUTO REPAIR, GARAGE
$2,065,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$1,725,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$208 / 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
$27,516
Tax year 2022
Assessed value
$2,628,600
Assessed 2022
Previous assessed
$2,628,600
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$992,000
Assessed improvement
$1,636,600
Land market value
$992,000
Improvement market value
$1,636,600
Total market value
$2,628,600
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
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
6,000 SF
Lot
1.14 ac (49,602 SF)
Zoning code
BC
APN
797880-0040
UPID
US90-0912466
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.7M
RETAIL STORES Current
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Elsdon,robert & Paula Trust
Trust
Free & Clear · 9 yrs held
Mailing address
100 PUBLIC SQ, CLEVELAND, OH 44113-2208
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2016
—
Elsdon,robert & Paula Trust
Elsdon,paula M
Quit Claim Deed
related
—
Aug 19, 2016
—
Martin,lawrence J & Marie G Trust
Martin L J & M G Trust
Quit Claim Deed
related
—
Mar 8, 2016
—
Martin,lawrence J & Marie G Trust
Martin L J & M G Trust
Quit Claim Deed
related
—
Jul 26, 2007
—
Martin L J & M G Living Trust
Martin,lawrence J & Marie G
Quit Claim Deed
related
—
—
—
Paul J Grebe
—
Deed Of Trust
related
$126,795 · Key Bank NA
—
—
Key Bank NA Trustee
—
Deed Of Trust
related
$830,486 · Key Bank NA
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.
Try Rey
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