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Property profile & analytics
OFF-MARKET
Parking lots & garages
3450 344th Way Federal Way, WA 98001-9540
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-2000021
Property summary
AI-generated overview
This exceptional two-story Class B office building, totaling 65,462 square feet, is situated in King County's CBA Auburn submarket. Built in 1999 and renovated in 2005, the property offers flexible coworking space options within a single building on a 3.5-acre lot. The zoning is OP-1. Currently, there are 6,986 square feet of vacant space available, divisible into units as small as 1,953 square feet, with a maximum contiguous space of 2,808 square feet. Four spaces are currently available, ranging in size from 374 to 3,666 square feet. The building enjoys a prime location adjacent to the Weyerhaeuser World Headquarters, providing convenient access to major transportation arteries including I-5, SR-18, and SR-167. Net Net Net (NNN) lease terms include all utilities and suite janitorial services. This presents a unique opportunity for businesses seeking flexible and well-located office space in a thriving submarket. The property offers a blend of modern amenities and convenient access, making it an ideal choice for a variety of businesses.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Lot
2.47 ac (107,471 SF)
Zoning code
OP-1
APN
726120-0195
UPID
US90-2000021
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
by Request
Blend (final)
Blend
by Request
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
Zoning description
The Purpose of this district is to promote Office Park 1
Zone name
Office Park 1
General category
OPEN_SPACE
Zone area
173.71 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$14,867
Tax year 2022
Assessed value
$1,289,600
Assessed 2022
Previous assessed
$1,289,600
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,289,600
Land market value
$1,289,600
Total market value
$1,289,600
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Heating
NONE
Lot
2.47 ac (107,471 SF)
Zoning code
OP-1
APN
726120-0195
UPID
US90-2000021
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP-1 · Federal Way, WAZoning 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
Zoning description
The Purpose of this district is to promote Office Park 1
Zone name
Office Park 1
General category
OPEN_SPACE
Zone area
173.71 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
2.47 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
related
$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.
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