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Property profile & analytics
FOR LEASE
Office buildings
3450 South 344Th Way Federal Way, WA 98001
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-0505841
For Lease
1 / 9
$17 SF/Yr
3450 South 344Th Way, Federal Way, WA 98001
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
64,965 SF
Lot
3.5 ac (152,460 SF)
Zoning code
OP-1
APN
222104-9040
UPID
US90-0505841
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
$9.79M
Blend (final)
Blend
$8.80M
Owner & transaction history
Rh Eccp IV Associates LLC · 7 yrs held
Rh Eccp IV Associates LLC
since 2019
7 recorded transactions
Zoning & alternative use
OP-1 · 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.80M
Range $7.92M – $9.67M · ±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
$135 / 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
$71,597
Tax year 2022
Assessed value
$6,997,000
Assessed 2022
Previous assessed
$6,997,000
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$1,829,500
Assessed improvement
$5,167,500
Land market value
$1,829,500
Improvement market value
$5,167,500
Total market value
$6,997,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
64,965 SF
Lot
3.5 ac (152,460 SF)
Zoning code
OP-1
APN
222104-9040
UPID
US90-0505841
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP-1 · Federal Way, WA
Zoning OP-1 · permitted uses
OP-1 · 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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
3.5 ac
Current owner
From public records · entity-resolved
Rh Eccp IV Associates LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 5003, BELLEVUE, WA 98009-5003
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
—
Rh Eccp IV Associates LLC
—
Deed
related
$7,077,000 · East West Bank
Jun 7, 2019
$5,600,000
Rh Eccp IV Associates LLC
Lba Realty Fund II Wbp Xv LLC
Warranty Deed
—
May 24, 2018
—
Lba Realty Fund II-wbp Xv LLC
Lba Realty Fund II-wbp IV LLC
Quit Claim Deed
related
—
Feb 1, 2016
—
Lba Realty Fund II-wbp IV LLC
Lba Realty Fund II-wbp II LLC
Quit Claim Deed
$171,000,000 · Bank Of America
Mar 5, 2014
—
Lba Realty Fund II-wbp II LLC
Lba Realty Fund II-wbp III LLC
Quit Claim Deed
$169,000,000 · Variable Annuity Life Ins Co
May 5, 2006
—
Lba Realty Fund II-wbp III LLC
Bedford Property Investors INC
Grant Deed
$263,723,000 · Sunamerica Life Insurance Co
Jun 22, 1999
$9,075,000
Bedford Property Investors
Quadrant Corp
Grant Deed
—
Jun 3, 1999
—
Quadrant Corp
Weyerhaeuser Real Estate Co
Grant Deed
related
—
—
—
Bedford Propert Investors INC
—
Deed Of Trust
related
$22,150 · Teachers Insurance & Annuity
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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