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Property profile & analytics
FOR LEASE
Medical Office Space
34509 9Th Ave South Federal Way, WA 98003
Individually Owned
9-yr Hold
Free & Clear
Property ID
US90-1004371
For Lease
1 / 6
$8,155,000
34509 9Th Ave South, Federal Way, WA 98003
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1987
Construction
CONCRETE
Total area
50,353 SF
Lot
1.28 ac (55,799 SF)
Zoning code
OP
APN
750451-0010
UPID
US90-1004371
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
$10.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.16M
Owner & transaction history
Doc-34509 9th Avenue South Mob · 9 yrs held
Doc-34509 9th Avenue South Mob
since 2016
4 recorded transactions
Zoning & alternative use
OP · 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%
$11,120,000
6.5%
$10,265,000
7%
$9,535,000
Blend value · Realmo final
$8.16M
Range $7.34M – $8.97M · ±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
$162 / 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
$110,710
Tax year 2022
Assessed value
$11,636,400
Assessed 2022
Previous assessed
$11,636,400
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed improvement
$11,636,400
Improvement market value
$11,636,400
Total market value
$11,636,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1987
Construction
CONCRETE
Heating
GAS
Cooling
AC.PACKAGE
Stories
3
Total area
50,353 SF
Lot
1.28 ac (55,799 SF)
Zoning code
OP
APN
750451-0010
UPID
US90-1004371
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP · Federal Way, WA
Zoning OP · permitted uses
OP · 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
1987
Construction
CONCRETE
Heating
GAS
Cooling
Yes
Stories
3
Lot
1.28 ac
Current owner
From public records · entity-resolved
Doc-34509 9th Avenue South Mob
Individual
Free & Clear · 9 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2016
$14,511,578
Doc-34509 9th Avenue South Mob
St Francis Medical Center Asso
Grant Deed
—
Aug 24, 1998
—
St Francis Medical Center Asso
—
Deed Of Trust
related
$3,973,000 · Bank Of America
—
—
St Francis Medical Ctr Assocs
—
Deed Of Trust
related
$3,100,000 · Bank Of America
—
—
St Francis Medical Center Asso
—
Deed Of Trust
related
$2,582,454 · First Citizens Bk
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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