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Property profile & analytics
FOR LEASE
Industrial properties
34310 9Th Ave S, Federal Way, WA 98003
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1642347
For Lease
1 / 4
$15 SF/Yr
34310 9Th Ave S, Federal Way, WA 98003
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Property summary
AI-generated overview
This exceptional 2,529-square-foot industrial space is located within Campus Park - Building 1, a multi-tenant facility in Federal Way, WA. The property, built in 1979 and renovated in 1994, offers a Class B industrial building with a total of 27,593 square feet across three single-story buildings situated on 1.14 acres of land. This unit features 14-foot ceiling heights, ten drive-in loading doors (10' x 10'), and ample parking with 24 spaces. The space includes a restroom, small office, and reception area, ideal for light manufacturing and distribution businesses. Recent upgrades include new carpet and paint. The property boasts 3-phase power and is conveniently located with excellent access to major transportation arteries, including I-5, SR-18, and SR-99. Its strategic location provides easy access to a variety of amenities, including nearby businesses, banking institutions, restaurants, and retail services. The property is zoned BP and has an APN of 926480-0080. Available with 30 days notice.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,593 SF
Lot
5.27 ac (229,372 SF)
Zoning code
CE
APN
926480-0080
UPID
US90-1642347
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
$4.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.95M
Owner & transaction history
Harsch Investment Realty LLC S · 20 yrs held
Harsch Investment Realty LLC S
since 2006
6 recorded transactions
Zoning & alternative use
CE · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$4,625,000
6.5%
$4,270,000
7%
$3,965,000
Blend value · Realmo final
$3.95M
Range $3.56M – $4.35M · ±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
$143 / 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
$141,785
Tax year 2022
Assessed value
$13,867,400
Assessed 2022
Previous assessed
$13,867,400
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$2,752,400
Assessed improvement
$11,115,000
Land market value
$2,752,400
Improvement market value
$11,115,000
Total market value
$13,867,400
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
3
Stories
1
Total area
27,593 SF
Lot
5.27 ac (229,372 SF)
Zoning code
CE
APN
926480-0080
UPID
US90-1642347
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.
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
3
Lot
5.27 ac
Current owner
From public records · entity-resolved
Harsch Investment Realty LLC S
Entity
Mailing address
PO BOX 2708, PORTLAND, OR 97208-2708
Ownership since
2006
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
May 31, 2017
—
Harsch Inv Realty LLC F
—
Deed
related
$5,300,000 · Miscellaneous Ins Co
Apr 13, 2006
$6,850,000
Harsch Investment Realty LLC S
Bayview Inn Partners
Warranty Deed
$4,450,000 · M&t Real Estate Trust
Nov 19, 2001
—
Bayview Inn Partners LLC
Bayview Inn Partners LLC
Quit Claim Deed
related
—
May 21, 1999
$3,740,000
Bayview Inn Partners LLC
Campus Park Office Warehouse
Grant Deed
$2,700,000 · Manufacturers Life Insurance
Jul 22, 1992
$2,700,000
Campus Park Office War
Rphs
Grant Deed
$486,000 · Seller
—
—
Harsch Inv Realty LLC F
—
Deed Of Trust
related
$5,300,000 · Miscellaneous Ins 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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