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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
Office buildings
33308 13th S Pl Federal Way, WA 98003-6390
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1186486
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
WOOD
Total area
6,316 SF
Lot
0.55 ac (23,848 SF)
Zoning code
BC
APN
768190-0040
UPID
US90-1186486
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
$1.76M
CAP Approach
CAP
$2.19M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$1.62M
Owner & transaction history
13th Park Place LLC · 1 yrs held
13th Park Place LLC
since 2025
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
BC · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.5M
+37.3%
Apartment house (5+ units)
$2.2M
+20.5%
Auto repair, garage
$2.2M
+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
$1,595,000
ML approach
$1,760,000
CAP Approach
CAP Return
Estimation
6%
$2,370,000
6.5%
$2,185,000
7%
$2,030,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,815,000
Current use
MEDICAL BUILDING
$2,495,000
Change: +37% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,190,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,175,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,735,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±10% · vs last sale $1.55M (Apr 7 2025)
Last sale anchor
$1.55M
Apr 7 2025
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
$256 / 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
$14,578
Tax year 2022
Assessed value
$1,412,400
Assessed 2022
Previous assessed
$1,412,400
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$357,700
Assessed improvement
$1,054,700
Land market value
$357,700
Improvement market value
$1,054,700
Total market value
$1,412,400
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
2007
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,316 SF
Lot
0.55 ac (23,848 SF)
Zoning code
BC
APN
768190-0040
UPID
US90-1186486
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BC · Federal Way, WA
Zoning 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
Federal Way. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.7M
OFFICE BUILDING Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2007
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
13th Park Place LLC
Entity
Mailing address
33308 13TH PL S UNIT #1, FEDERAL WAY, WA 98003-6390
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2025
—
13th Park Place LLC
—
Deed
related
$897,638 · Fifth Third Bank NA
Apr 7, 2025
$1,550,000
13th Park Place LLC
13th Place South Property LLC
Warranty Deed
—
Jan 4, 2007
—
13th Place South Property LLC
—
Trustees Deed
related
$1,237,500 · Banner Bank
Sep 20, 2006
—
City Of Federal Way
13th Place South Property LLC
Warranty Deed
—
Apr 28, 2005
—
13th Place South Property LLC
Casey,scott
Quit Claim Deed
related
—
Mar 14, 2005
$167,776
Scott Casey
Kc Investments LLC
Warranty Deed
—
Mar 14, 2005
—
Timothy Anderson
Miller,gloria
Quit Claim Deed
related
—
Feb 26, 1998
$47,000
Kc Investments LLC
Secoma Business Park
Grant Deed
—
Dec 19, 1997
—
Secoma Business Park
Legend Infl INC
Quit Claim Deed
related
—
—
—
13th Place South Property LLC
—
Deed Of Trust
related
$624,000 · 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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