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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Auto shops
35406 21st SW Ave Federal Way, WA 98023-3050
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-1104552
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,800 SF
Lot
1.45 ac (63,235 SF)
Zoning code
BN
APN
252103-9032
UPID
US90-1104552
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
$1.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$1.63M
Owner & transaction history
Payson Properties LLC · 5 yrs held
Payson Properties LLC
since 2020
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
BN · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
used principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of tha…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 ac
Top alternative use upside
Commercial (general)
$2.5M
+52.7%
Medical building
$1.9M
+14.8%
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
$1,740,000
ML approach
$1,725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,650,000
Current use
COMMERCIAL (GENERAL)
$2,520,000
Change: +53% · Conversion: Moderate
MEDICAL BUILDING
$1,895,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$1,395,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.53M (Nov 3 2020)
Last sale anchor
$1.53M
Nov 3 2020
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
$340 / 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
$16,343
Tax year 2022
Assessed value
$1,569,600
Assessed 2022
Previous assessed
$1,569,600
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$758,800
Assessed improvement
$810,800
Land market value
$758,800
Improvement market value
$810,800
Total market value
$1,569,600
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Total area
4,800 SF
Lot
1.45 ac (63,235 SF)
Zoning code
BN
APN
252103-9032
UPID
US90-1104552
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BN · Federal Way, WAZoning BN · permitted uses
BN · Federal Way, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
used principally for the transportation of commodities, vehicles, merchandise, produce, freight, or animals; as well as any bulldozers, backhoes, cranes, or similar construction equipment. “ Commercial zones ” means the BN, BC, CC-C and CC-F zoning districts. “ Common space ” means an area within a development, which is used primarily by the occupants of that development, such as an entryway, lobby, courtyard, outside dining area, etc. “
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
123.78 ac
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Lot
1.45 ac
Current owner
From public records · entity-resolved
Payson Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
35406 21ST AVE SW, FEDERAL WAY, WA 98023-3050
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2020
—
Payson Properties LLC
—
Deed
related
$762,500 · Columbia St Bk
Dec 1, 2020
—
Payson Properties LLC
—
Deed
related
$629,000 · Evergreen Business Capital
Nov 30, 2020
—
Payson Properties LLC
2010 Donahue Family LLC
Correction Deed
related
—
Nov 30, 2020
$1,525,000
Payson Properties LLC
2010 Donahue Family LLC
Correction Deed
related
—
Nov 3, 2020
$1,525,000
Payson Properties LLC
2010 Donahue Family LLC
Warranty Deed
$762,500 · Columbia State Bank
Oct 14, 2010
—
2010 Donahue Family LLC
1996 Donahue Family Ltd Ptshp
Quit Claim Deed
related
$300,000 · Allito LLC
Apr 21, 2010
—
2010 Donahue Family LLC
Donahue,michael J & Barbara R
Quit Claim Deed
related
—
Dec 31, 2001
—
1996 Donahue Family LP
Donahue,michael B
Quit Claim Deed
related
—
Jan 16, 1996
$125,000
Michael J Donahue
Butz,ronald & Janice E
Grant Deed
$114,296 · Key Bank Of Washington
—
—
Michael J Donahue
—
Deed Of Trust
related
$113,154 · Columbia State Bank
—
—
Payson Properties LLC
—
Deed Of Trust
related
$762,500 · Columbia St 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.
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