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    Property profile & analytics

    34617 11Th Pl S Federal Way, WA 98003

    • Medical offices
    • 23,200 SF
    • 0.88 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimation
    $2,340,000
    Last Sale
    May 28, 2021
    $2,200,000
    Location Intelligence
    Property ID
    US90-1660429
    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.

    Current Use by Public Records

    • Medical offices

    Property Details for 34617 11Th Pl S

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.88 lot acres
    Property size
    23,200 SF
    Zone code
    OP
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    215470-0110
    APU
    2154700110

    Description

    Wellness Plaza is a distinguished Class A medical office building totaling 21,098 square feet, situated on a 0.88-acre lot (38,145 square feet) in King County. Built in 1981 and extensively renovated in 2022, this multi-tenant property offers immediate occupancy in five available suites ranging from 811 to 7,617 contiguous square feet. The building boasts a modern, technologically advanced main lobby. Ample free parking is available with a generous 6.90/1,000 SF ratio, totaling 97 spaces. Its convenient location offers easy access to public transportation, with a metro bus route just one block away, and a park and ride also within a block. The property benefits from state-of-the-art telecommunication services provided by CenturyLink and Comcast. Its strategic location places it five blocks from St. Francis Hospital and just five minutes from the Rhododendron Species Garden, providing a desirable setting for medical professionals and their patients. The property is zoned OP, Federal Way, and its APN is 215470-0110.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,370,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,945,000
      6.5%
      $2,180,000
      7%
      $2,235,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,455,000
      Geo Method
      $2,295,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,050,000
      Retail
      $1,915,000
      Mixed-Use
      $2,450,000
      Hospitality
      $2,080,000
      Educational
      $2,065,000
      Residential Income
      $2,020,000
      Energy
      $1,990,000
      Income-Based Land
      $2,170,000
      Food Service
      $1,830,000

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.32
    Latitude
    47.2914
    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
    $24,907
    $457,700
    $1,959,100
    $2,416,800
    -
    $457,700
    $1,959,100
    $2,416,800

    Comparable in this City

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      31675 Pacific S Hwy

      MEDICAL BUILDING • 5,205 SF
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    • Value Estimation
      $135,000
      3,943 SF

      34621 11th S Ave

      MEDICAL BUILDING • 3,943 SF
      34621 11th S Ave, Federal Way, WA 98003
      View Details
    • Value Estimation by Request
      16,325 SF

      34616 11th S Pl

      MEDICAL BUILDING • 16,325 SF
      34616 11th S Pl, Federal Way, WA 98003-8705
      View Details

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      View Details
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    Federal Way, WA 98003
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    Realmo Value Estimation

    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.

    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.

    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
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