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Property profile & analytics
FOR SALE
Office buildings
33710 9Th Ave S Federal Way, WA 98003
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1244507
For Sale
1 / 8
$3,995,000
33710 9Th Ave S, Federal Way, WA 98003
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
WOOD
Total area
12,226 SF
Lot
2.42 ac (105,400 SF)
Zoning code
OP
APN
926480-0140
UPID
US90-1244507
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
$4.31M
CAP Approach
CAP
$4.23M
Comparable Approach
Comparable
$4.57M
Blend (final)
Blend
$4.38M
Owner & transaction history
Pac 3 LLC · 3 yrs held
Pac 3 LLC
since 2023
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
OP · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.4M
+82.6%
Restaurant
$6.1M
+73.3%
Medical building
$4.8M
+37.3%
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
$4,175,000
ML approach
$4,305,000
CAP Approach
CAP Return
Estimation
6%
$4,585,000
6.5%
$4,230,000
7%
$3,930,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,520,000
Current use
COMMERCIAL (GENERAL)
$6,425,000
Change: +83% · Conversion: Easy
RESTAURANT
$6,095,000
Change: +73% · Conversion: Moderate
MEDICAL BUILDING
$4,830,000
Change: +37% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,240,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,205,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,355,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$4.38M
Range $3.94M – $4.82M · ±10% · vs last sale $4.50M (Jan 12 2023)
Last sale anchor
$4.50M
Jan 12 2023
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
$358 / 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
$33,209
Tax year 2022
Assessed value
$2,996,200
Assessed 2022
Previous assessed
$2,996,200
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,264,800
Assessed improvement
$1,731,400
Land market value
$1,264,800
Improvement market value
$1,731,400
Total market value
$2,996,200
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
For Sale
Year built
1979
Construction
WOOD
Heating
OTHER
Buildings
2
Stories
1
Total area
12,226 SF
Lot
2.42 ac (105,400 SF)
Zoning code
OP
APN
926480-0140
UPID
US90-1244507
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
$3.5M
COMMERCIAL (GENERAL)
Est. value
$6.4M
RESTAURANT
Est. value
$6.1M
MEDICAL BUILDING
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.2M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1979
Construction
WOOD
Heating
OTHER
Stories
1
Buildings
2
Lot
2.42 ac
Current owner
From public records · entity-resolved
Pac 3 LLC
Entity
Mailing address
2821 S 154TH ST, SEATAC, WA 98188-2034
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2026
—
Pac 3 LLC
—
Deed
related
$2,800,000 · Red Canoe Cu
Jan 12, 2023
$4,500,000
Pac 3 LLC
Campus Bp I LLC
Warranty Deed
$2,900,000 · Campus Bp I LLC
Sep 29, 2017
—
Campus Bp I LLC
—
Deed
related
$1,475,000 · Pacific Crest Savings Bank
Dec 22, 2011
—
Herb Simon
Campus Business Parks LLC
Grant Deed
related
—
Oct 29, 2007
—
Campus Bp I LLC
Simon,herb
Quit Claim Deed
related
$8,950,000 · Wells Fargo Bank NA
Jul 18, 2006
$12,575,000
Herb Simon
Campus Business Parks LLC
Grant Deed
$9,800,000 · Key Bank NA
Jun 30, 1997
—
Inter Co-op USA #3
—
Deed Of Trust
related
$6,500,000 · Us Bank
Aug 1, 1990
$9,300
Inter Co Op USA
Koll
Grant Deed
$8,300 · Company Misc
—
—
Inter Co-op USA #3
—
Deed Of Trust
related
$100,000 · Oregon State Public Emp Retire
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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