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Property profile & analytics
OFF-MARKET
Estimated value
$2,930,000
Retail space
34008 Hoyt SW Rd Federal Way, WA 98023-3208
Entity Owned
21-yr Hold
Free & Clear
Property ID
US90-1666424
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,488 SF
Lot
1.47 ac (64,023 SF)
Zoning code
BN
APN
308900-0315
UPID
US90-1666424
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
$3.99M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.93M
Owner & transaction history
Too Hoytie Toytie LLC · 21 yrs held
Too Hoytie Toytie LLC
since 2004
7 recorded transactions
Zoning & alternative use
BN · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
used principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of tha…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 ac
Top alternative use upside
Office building
$4.2M
+9.5%
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%
$4,320,000
6.5%
$3,985,000
7%
$3,700,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,840,000
Current use
OFFICE BUILDING
$4,205,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$2.93M
Range $2.64M – $3.22M · ±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
$202 / 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
$38,839
Tax year 2022
Assessed value
$3,765,700
Assessed 2022
Previous assessed
$3,765,700
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$1,280,400
Assessed improvement
$2,485,300
Land market value
$1,280,400
Improvement market value
$2,485,300
Total market value
$3,765,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Stories
1
Bathrooms
1
Total area
14,488 SF
Lot
1.47 ac (64,023 SF)
Zoning code
BN
APN
308900-0315
UPID
US90-1666424
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BN · Federal Way, WAZoning 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
Zoning description
used principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of that development, such as an entryway, lobby, courtyard, outside dining area, etc. “
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.8M
OFFICE BUILDING
Est. value
$4.2M
RETAIL STORES Current
OFFICE BUILDING
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Stories
1
Bathrooms
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Too Hoytie Toytie LLC
Entity
Free & Clear · 21 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2004
—
Too Hoytie Toytie LLC
Hoytie Toytie LLC
Quit Claim Deed
related
—
Jul 6, 2001
—
Hoytie Toytie LLC
American Drug Stores INC
Quit Claim Deed
related
—
Oct 13, 2000
$1,000,000
Hoytie Toytie LLC
Fallis,thomas R
Trustees Deed
$2,325,000 · Us Bank NA
Oct 13, 2000
$2,485,000
American Drug Stores INC
Hoytie Toytie LLC
Trustees Deed
—
Jan 22, 1990
$70,000
Thomas R Fallis
Pickart,terry M&
Grant Deed
—
—
—
Too Boytie Toytie LLC
—
Deed Of Trust
related
$4,469,000 · Bank Of America
—
—
Hoytie Toytie LLC
—
Deed Of Trust
related
$8,300,000 · Allstate Life Insurance Co
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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