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Property profile & analytics
OFF-MARKET
Estimated value
$4,620,000
Skating rinks
34222 Pacific S Hwy Federal Way, WA 98003-6880
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1222868
Property profile
Verified
Property type
Skating rinks
Use group
SKATING RINK, ICE SKATING, ROLLER SKATING
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,170 SF
Lot
1.87 ac (81,368 SF)
Zoning code
CE
APN
202104-9137
UPID
US90-1222868
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
$4.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.62M
Owner & transaction history
Ecdlr Federal Way LLC · 3 yrs held
Ecdlr Federal Way LLC
since 2022
Last sale
$4.9M
6 recorded transactions
Zoning & alternative use
CE · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+488.1%
Auto repair, garage
$3.1M
+425.9%
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
$4,365,000
ML approach
$4,325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,445,000
Change: +488% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,080,000
Change: +426% · Conversion: Difficult
Blend value · Realmo final
$4.62M
Range $4.16M – $5.08M · ±10% · vs last sale $4.90M (Oct 4 2022)
Last sale anchor
$4.90M
Oct 4 2022
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
$184 / 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
$32,899
Tax year 2022
Assessed value
$3,020,400
Assessed 2022
Previous assessed
$3,020,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$2,034,200
Assessed improvement
$986,200
Land market value
$2,034,200
Improvement market value
$986,200
Total market value
$3,020,400
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
Skating rinks
Use group
SKATING RINK, ICE SKATING, ROLLER SKATING
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
25,170 SF
Lot
1.87 ac (81,368 SF)
Zoning code
CE
APN
202104-9137
UPID
US90-1222868
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CE · Federal Way, WA
Zoning CE · permitted uses
CE · 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
RESTAURANT
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RESTAURANT
AUTO REPAIR, GARAGE
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.87 ac
Current owner
From public records · entity-resolved
Ecdlr Federal Way LLC
Entity
Mailing address
2524 16TH AVE S, SEATTLE, WA 98144-5104
Ownership since
2022
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
Oct 24, 2024
—
Ecdlr Federal Way LLC
—
Deed
related
$1,498,650 · Department Of Commerce FCU
Feb 23, 2023
—
Ecdlr Federal Way LLC
—
Deed
related
$1,212,500 · Department Of Commerce
Oct 4, 2022
$4,900,000
Ecdlr Federal Way LLC
Pattisons Recreation LLC
Bargain And Sale Deed
$5,287,500 · Washington State Housing Fin Commis
Nov 16, 2009
—
Pattisons Recreation LLC
Pattison W Skating Ctr Ptshp
Quit Claim Deed
related
—
Sep 19, 2002
—
Pattison West Skating Center
Carroll W Pattison Estate
Quit Claim Deed
related
$1,000,000 · Washington State Bank
—
—
Pattisons Recreation LLC
—
Deed Of Trust
related
$791,256 · Heritage Bank
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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