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    34709 9th S Ave Federal Way, WA 98003-8722
    Property profile & analytics

    34709 9th S Ave, Federal Way, WA 98003-8722

    View on Map
    • Office buildings
    • 9,396 SF
    • 1.85 lot acres
    Off-Market
    Last Sale Apr 28, 2022
    $3,850,000
    Property ID
    US90-0442263
    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
    $3,775,000
    Show details
    Cap Rate Potential
    5.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 34709 9th S Ave

    Year built
    1990
    Construction
    WOOD
    Lot size
    1.85 lot acres
    Zone code
    OP
    Property type
    Office buildings
    APN
    926480-0015
    APU
    9264800015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 28, 2022 $3,850,000 Wyandotte LLC Dio Properties LLC Warranty Deed $2.6M · Timberland Bank
    Sep 16, 2019 $3,325,000 Dio Properties LLC Curran Properties LP Grant Deed $2.5M · Twinstar Cu
    Dec 17, 2002 $5,014,740 Curran Properties LP Willard,steve Grant Deed $3.5M · Safeco Life Insurance Co
    Dec 28, 1992 — Steve Willard Trademark Corpor Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,720,000
      ML approach
      $3,730,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,520,000
      6.5%
      $3,250,000
      7%
      $3,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,715,000
      Market price range: $1.15M - $3.72M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,705,000
      Current use
      INDUSTRIAL (GENERAL)
      $5,965,000
      Change: +121% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,935,000
      Change: +83% Conversion: Easy
      RESTAURANT
      $4,685,000
      Change: +73% Conversion: Moderate
      MEDICAL BUILDING
      $3,710,000
      Change: +37% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,255,000
      Change: +20% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,230,000
      Change: +20% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,580,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.324
    Latitude
    47.2905
    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
    $41,937
    $966,100
    $3,193,300
    $4,159,400
    -
    $966,100
    $3,193,300
    $4,159,400

    Comparable in this City

    • Value Estimation
      $1,785,000
      10,012 SF

      1200 336th St

      OFFICE BUILDING
      1200 336th St, Federal Way, WA 98003-6347
      View Details
    • Value Estimation
      $3,960,000
      23,334 SF

      34303 Pacific S Hwy

      OFFICE BUILDING
      34303 Pacific S Hwy, Federal Way, WA 98003-8907
      View Details
    • Value Estimation by Request
      6,096 SF

      1814 324th Pl

      OFFICE BUILDING
      1814 324th Pl, Federal Way, WA 98003-8582
      View Details
    • Value Estimation
      $975,000
      5,348 SF

      350 333rd St

      OFFICE BUILDING
      350 333rd St, Federal Way, WA 98003-6339
      View Details
    • Value Estimation
      $945,000
      4,080 SF

      900 336th St

      OFFICE BUILDING
      900 336th St, Federal Way, WA 98003-6311
      View Details
    • Value Estimation
      $910,000
      4,150 SF

      2025 341st Pl

      OFFICE BUILDING
      2025 341st Pl, Federal Way, WA 98003-6861
      View Details

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      4,800 SF

      Federal Way Office Building

      Office building for sale in Federal Way, Washington.
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      Federal Way Office Building For Sale

      Single tenant office building leased to State of Washington.
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    Similar Nearby for Lease

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      Federal Way Class A Office

      Two-story office building with covered parking and highway access.
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      Prestigious Office Building in Federal Way

      Class A office spaces available for lease in Federal Way.
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      High-Visibility Office Suite For Rent

      Second-floor office suite with convenient access and strong visibility.
      33427 Pacific Hwy S, Federal Way, WA 98003
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      2,529 SF

      Manufacturing/Distribution Space with Office

      Light manufacturing and distribution space with office near major highways.
      34310 9Th Ave S, Federal Way, WA 98003
      View Details
    • $20 SF/Yr

      Federal Way Office Sublease Opportunity

      Sublease opportunity in Federal Way with 34,718 square feet.
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    • $20 SF/Yr

      Federal Way Office Space Available

      Office space near future Link Light Rail Station in Federal Way.
      1230 South 336Th St, Federal Way, WA 98003
      View Details

    Property Visit Statistics

    • Visits by month
      11.5k
    • Visitors by month
      6.4k
    • Avg Time on site
      14 min
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    Federal Way, WA 98003-8722
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    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
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