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    33400 9Th Ave S Federal Way, WA 98003
    Property profile & analytics

    33400 9Th Ave S, Federal Way, WA 98003

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    • Office buildings
    • 59,572 SF
    • 1.97 lot acres
    For Lease
    $28 SF/Yr
    View Listing →
    Federal Way Class A Office For Lease
    $28 SF/Yr

    Federal Way Class A Office

    Two-story office building with covered parking and highway access.

    33400 9th Ave S, Federal Way, WA 98003
    View Listing
    Property ID
    US90-1098259
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $8,020,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 33400 9Th Ave S

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.97 lot acres
    Zone code
    OP
    Property type
    Office buildings
    APN
    926501-0060
    APU
    9265010060

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 27, 2026 — Raj Paravin — Deed · related $430k · Ocmbc INC
    Jun 10, 2022 $8,000,000 Rh Golden Stone Kbc LLC Golden Stone Properties LLC Warranty Deed $4.7M · East West Bank
    Dec 16, 2010 $5,500,000 Golden Stone Properties LLC Golden Stone LLC Warranty Deed $4M · Key Bank NA
    Dec 17, 1998 — Sound Venture Four LLC Klappenbach,douglas W & Stephani Trustees Deed · related —
    Aug 7, 1998 $350,000 Douglas Klappenbach Whittall Trust Grant Deed $208k · New America Financial INC
    Dec 28, 1994 $220,000 Whittall J P West Campus Investors Grant Deed $190k · Seller
    — — Whittall Trust — Deed Of Trust · related $195k · Puyallup Valley Bank
    — — Golden Stone Properties LLC — Deed Of Trust · related $4M · Miscellaneous Ins Co
    — — Golden Stone LLC — Deed Of Trust · related $4.4M · Cuna Mutual Life Insurance Co
    — — Golden Stone LLC — Deed Of Trust · related $4.1M · Continental Savings Bank

    Description

    This exceptional two-story Class A office building, totaling 38,641 square feet, presents a rare opportunity in West Campus Federal Way. Built in 1999 and renovated in 2002, the property boasts a desirable location with convenient access to major transportation arteries, including I-5, Hwy-99, and Hwy-18. The building offers multiple tenancy options, with spaces ranging from a minimum of 960 square feet to a maximum contiguous space of 5,698 square feet. Currently, 15,711 square feet of space is available. The building features ample parking with 141 spaces and elevators for convenient access to all floors. Situated on a 1.97-acre lot, the building is zoned OP and is classified as King County property. This meticulously maintained building provides a professional and efficient work environment, ideal for businesses seeking a prestigious address and convenient access to key transportation routes. The building's modern design and amenities, combined with its strategic location, make it an attractive option for a variety of businesses. Inquire today to explore the available spaces and secure your ideal office solution.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,730,000
      ML approach
      $7,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,756,000
      Market price range: $7.32M - $23.6M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.322
    Latitude
    47.3024
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $58,904
    $1,030,200
    $4,704,600
    $5,734,800
    -
    $1,030,200
    $4,704,600
    $5,734,800

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      27203 Pacific S Hwy

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      1607 341st Pl

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      33600 6th S Ave

      OFFICE BUILDING
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      View Details
    • Value Estimation
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      4,636 SF

      33438 1st S Way

      OFFICE BUILDING
      33438 1st S Way, Federal Way, WA 98003-6214
      View Details
    • Value Estimation
      $5,745,000
      39,516 SF

      909 336th St

      OFFICE BUILDING
      909 336th St, Federal Way, WA 98003-7394
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Federal Way Office Building For Sale

      Single tenant office building leased to State of Washington.
      616 S 348Th St, Federal Way, WA 98003
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      Pending

      Value-Add Office Building For Sale

      50,150 SF office building on 3.11 acres.
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      4,800 SF

      Federal Way Office Building

      Office building for sale in Federal Way, Washington.
      918 S 348Th St, Federal Way, WA 98003
      View Details
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      22,522 SF

      Federal Way Office Park For Sale

      Two-building office park in Federal Way, Washington, totaling 22,522 SF.
      33710 9Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Prime Office Location in Federal

      Ideally located office building near future Sound Transit Station.
      2505 S 320Th St, Federal Way, WA 98003
      View Details
    • Contact for pricing
      2,181 SF

      Fully Occupied Seattle MSA Property

      Prime investment opportunity in the thriving Seattle MSA market.
      32114 Federal, Federal Way, WA 98003
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    Similar Nearby for Lease

    • Contact for pricing

      Federal Way Class A Office

      Two-story office building with covered parking and highway access.
      33400 9Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Prestigious Office Building in Federal Way

      Class A office spaces available for lease in Federal Way.
      33301 9Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing
      1,053 SF

      Office Space Near Transit Center

      Office space for rent, walking distance to amenities and transit.
      31620 23Rd Ave S, Federal Way, WA 98003
      View Details
    • $17 SF/Yr

      Federal Way First Floor Office

      First floor office space with frontage and easy highway access.
      33903 Pacific Hwy South, Federal Way, WA 98003
      View Details
    • Contact for pricing
      3,929 SF

      Visible Office Space For Rent

      Office space with excellent frontage and visibility, easy I-5 access.
      1701 Commons S, Federal Way, WA 98003
      View Details
    • $20 SF/Yr

      Federal Way Office Space Available

      Office space near future Link Light Rail Station in Federal Way.
      1230 South 336Th St, Federal Way, WA 98003
      View Details
    View Listing
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    Federal Way, WA 98003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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