Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    34603 16th S Ave Federal Way, WA 98003-6803

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    34603 16th S Ave Federal Way, WA 98003-6803

    View on Map
    • Auto shops
    • 5,289 SF
    • 0.52 lot acres
    Off-Market
    Last Sale Feb 12, 2026
    $2,100,000
    Property ID
    US90-1713273
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,585,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 34603 16th S Ave

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    0.52 lot acres
    Property size
    5,289 SF
    Zone code
    CE
    Property type
    Auto shops
    APN
    889700-0065
    APU
    8897000065

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,581,000
      Market price range: $1.39M - $2.41M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,820,000
      Current use
      RESTAURANT
      $2,635,000
      Change: +45% Conversion: Difficult
      MEDICAL BUILDING
      $2,090,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,835,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $1,520,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.314
    Latitude
    47.2915
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $22,625
    $517,700
    $525,900
    $1,043,600
    -
    $517,700
    $525,900
    $1,043,600

    Comparable in this City

    • Value Estimation
      $1,255,000
      4,559 SF

      32530 Pacific S Hwy

      AUTO REPAIR, GARAGE • 4,559 SF
      32530 Pacific S Hwy, Federal Way, WA 98003-6402
      View Details
    • Value Estimation by Request
      4,605 SF

      Federal Way, WA 98003

      AUTO REPAIR, GARAGE • 4,605 SF
      Federal Way, WA 98003
      View Details
    • Value Estimation
      $635,000
      10,240 SF

      1515 344th St

      AUTO REPAIR, GARAGE • 10,240 SF
      1515 344th St, Federal Way, WA 98003-6805
      View Details
    • Value Estimation by Request
      3,750 SF

      32621 Pacific S Hwy

      AUTO REPAIR, GARAGE • 3,750 SF
      32621 Pacific S Hwy, Federal Way, WA 98003
      View Details
    • Value Estimation
      $700,000
      2,200 SF

      30402 Pacific S Hwy

      AUTO REPAIR, GARAGE • 2,200 SF
      30402 Pacific S Hwy, Federal Way, WA 98003-4816
      View Details
    • Value Estimation
      $520,000
      8,500 SF

      33003 Pacific S Hwy

      AUTO REPAIR, GARAGE • 8,500 SF
      33003 Pacific S Hwy, Federal Way, WA 98003-6409
      View Details

    Similar Nearby for Sale

    • $4,000,000
      9,998 SF

      Standalone Retail Building For Lease

      Remodeled retail building with high visibility and ample parking.
      30650 Pacific Hwy S, Federal Way, WA 98003
      View Details
    • Contact for pricing
      14,238 SF

      Walgreens NNN Investment Opportunity

      NNN Walgreens in Federal Way with strong traffic and demographics.
      28817 Military Rd S, Federal Way, WA 98003
      View Details
    • Contact for pricing
      450 SF

      New Drive-Thru Investment Opportunity

      New single-tenant drive-thru leased to Bigfoot Java.
      803 S 348Th St, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Fully Occupied Seattle MSA Property

      Prime investment opportunity in the thriving Seattle MSA market.
      32114 1St Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Federal Way Industrial Opportunity

      37,250 SF industrial building in a prime location.
      Federal Way, WA 98003
      View Details
    • Contact for pricing

      Class A Office Building

      Prime office space near future Sound Transit Station.
      2505 S 320Th St, Federal Way, WA 98003
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr

      Federal Way Automotive Shop Space

      7,950 SF shop with ample parking in Federal Way.
      34611 16Th Ave S, Federal Way, WA 98003
      View Details
    • $20 SF/Yr

      Federal Way Automotive Shop Space

      7,590 SF shop with office on large lot.
      34611 16Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Prime Retail Location in Federal

      Thriving retail corridor with easy access and high visibility.
      32075 Pacific Hwy South, Federal Way, WA 98003
      View Details
    • Contact for pricing
      2,200 SF

      Federal Way Retail Space Available

      2,200 SF retail space in Federal Way's retail core.
      1727 S 341St Pl, Federal Way, WA 98003
      View Details
    • $32 SF/Yr
      1,879 SF

      Retail Space in Federal Way

      Retail space available in a busy Federal Way shopping center.
      2500 South 320Th St, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Retail Space in Federal Way

      Retail space with high visibility in a dynamic commercial corridor.
      2400 S 320Th St, Federal Way, WA 98003
      View Details

    Property Visit Statistics

    • Visits by month
      1.1k
    • Visitors by month
      852
    • Avg Time on site
      20 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    34603 16th S Ave
    Federal Way, WA 98003-6803
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!