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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Office buildings
33405 6th S Ave Federal Way, WA 98003-6335
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0738444
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Construction
WOOD
Total area
10,495 SF
Lot
0.99 ac (43,227 SF)
Zoning code
OP
APN
926500-0330
UPID
US90-0738444
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.87M
Owner & transaction history
London Aviation Underwriters I · 8 yrs held
London Aviation Underwriters I
since 2017
6 recorded transactions
Zoning & alternative use
OP · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,020,000
Current use
WAREHOUSE, STORAGE
$2,880,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±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
$178 / 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
$19,162
Tax year 2022
Assessed value
$1,862,100
Assessed 2022
Previous assessed
$1,862,100
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$518,700
Assessed improvement
$1,343,400
Land market value
$518,700
Improvement market value
$1,343,400
Total market value
$1,862,100
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
2002
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Total area
10,495 SF
Lot
0.99 ac (43,227 SF)
Zoning code
OP
APN
926500-0330
UPID
US90-0738444
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP · Federal Way, WA
Zoning OP · permitted uses
OP · 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
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.9M
OFFICE BUILDING Current
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
2002
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Lot
0.99 ac
Current owner
From public records · entity-resolved
London Aviation Underwriters I
Individual
Mailing address
33405 6TH AVE S, FEDERAL WAY, WA 98003-6335
Ownership since
2017
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
Aug 31, 2017
$1,350,000
London Aviation Underwriters I
Fw Dev LLC
Warranty Deed
—
Jun 7, 2002
—
Federal Way City (wa)
Fw Development LLC
Grant Deed
related
—
May 15, 2002
$275,000
Fw Development LLC
Billings,barbara L
Grant Deed
—
Aug 14, 1989
$175,000
Barbara L Eta Billings
Quadrant
Grant Deed
$87,500 · Seller
—
—
Fw Dev LLC
—
Loan Modification
related
$1,689,399 · Wells Fargo Bk
—
—
Fw Development LLC
—
Deed Of Trust
related
$1,600,000 · Us 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.
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