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Property profile & analytics
OFF-MARKET
Estimated value
$4,235,000
Commercial real estate
33653 21st SW Ave Federal Way, WA 98023
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1354765
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,286 SF
Lot
0.82 ac (35,601 SF)
Zoning code
BN
APN
930100-0020
UPID
US90-1354765
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
$4.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.79M
Blend (final)
Blend
$4.24M
Owner & transaction history
Seawest Investment Associates LLC · 4 yrs held
Seawest Investment Associates LLC
since 2021
Last sale
$4.2M
6 recorded transactions
Zoning & alternative use
BN · 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
$4,530,000
ML approach
$4,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.24M
Range $3.81M – $4.66M · ±10% · vs last sale $4.21M (Aug 23 2021)
Last sale anchor
$4.21M
Aug 23 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
$988 / 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
$20,463
Tax year 2022
Assessed value
$1,998,800
Assessed 2022
Previous assessed
$1,998,800
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$712,000
Assessed improvement
$1,286,800
Land market value
$712,000
Improvement market value
$1,286,800
Total market value
$1,998,800
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Stories
1
Total area
4,286 SF
Lot
0.82 ac (35,601 SF)
Zoning code
BN
APN
930100-0020
UPID
US90-1354765
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BN · Federal Way, WA
Zoning BN · permitted uses
BN · 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.
Building & site characteristics
From public records
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Seawest Investment Associates LLC
Entity
Mailing address
13120 NE 70TH PL #201, KIRKLAND, WA 98033-8570
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2021
—
Seawest Investment Associates LLC
—
Deed
related
$2,900,000 · Banner Bank
Aug 23, 2021
$4,206,000
Seawest Investment Associates LLC
Confluent Development LLC
Bargain And Sale Deed
—
Apr 17, 2019
—
Confluent Dev LLC
—
Grant Deed
related
$31,000,000 · Colorado St Bk&tr
Mar 25, 2019
$1,500,000
Confluent Dev LLC
Umpqua Bk
Grant Deed
—
Nov 19, 2015
—
Umpqua Bk
Rainier Pacific Bk Tacoma Wash
Grant Deed
—
Apr 30, 1998
$950,000
Pacific Cu Rainier
Us Bank
Quit Claim Deed
related
—
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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