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Property profile & analytics
FOR LEASE
Office buildings

33915 1St Way S Federal Way, WA 98003

34,496 SF 2.53 ac lot Built 2005
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US90-1177919
33915 1St Way S, Federal Way, WA 98003 For Lease
$6,180,000 2,290 SF available
33915 1St Way S, Federal Way, WA 98003
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Property summary
AI-generated overview

This exceptional two-story, Class B medical office building, totaling 34,496 square feet, presents a unique leasing opportunity in the desirable CBA Federal Way submarket. Built in 2005 and renovated in 2010, the property boasts a modern aesthetic and efficient layout. Situated on a spacious 2.53-acre lot at 33915 1st Way S, Federal Way, WA 98003, this building offers convenient access and ample parking. Multiple tenancy options are available, with spaces ranging from a minimum of 1,011 square feet to a maximum contiguous space of 2,290 square feet. Currently, 7,161 square feet of space is vacant, providing flexibility for various medical practices or professional businesses. The building features convenient amenities including elevators and is zoned OP. This is an ideal location for healthcare providers seeking a well-maintained, established facility in a thriving community. The property's strategic location within the CBA Federal Way submarket ensures high visibility and accessibility for patients and clients. Interested parties are encouraged to inquire about available space and lease terms. This is a rare opportunity to secure high-quality medical office space in a prime Federal Way location.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2005
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 34,496 SF
Lot 2.53 ac (110,377 SF)
Zoning code OP
APN 926504-0150
UPID US90-1177919
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
$6.18M
Owner & transaction history
Maplewood Investor Group LLC · 6 yrs held
Maplewood Investor Group LLC
since 2019
7 recorded transactions
2019
$7.0M
2015
Price N/A
2015
Price N/A
2015
$5.9M
2010
Price N/A
2004
$575,000
2003
$500,000
Zoning & alternative use
OP · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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