33915 1St Way S Federal Way, WA 98003
For Lease
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
OP · Federal Way, WAFederal Way. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.