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Property profile & analytics
OFF-MARKET
Estimated value
$4,535,000
Office buildings
501 336th St Federal Way, WA 98003-6745
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-3336867
Property summary
AI-generated overview
Fountain Plaza I & II offers exceptional Class A executive office space in the CBA Federal Way submarket of King County. This two-building complex boasts a total of 48,387 square feet, spread across six stories, providing a variety of options for businesses of all sizes. Currently, there are multiple tenancies available, with a minimum divisible space of 1,694 square feet and a maximum contiguous space of 13,099 square feet. A significant 28,083 square feet of space is currently vacant, presenting a unique opportunity for immediate occupancy. The property is zoned OP and offers ample parking with a ratio of 4.7 spaces per 1,000 square feet. The buildings are well-maintained and offer a professional environment ideal for executive offices. Whether you require a small, efficient suite or a larger, more expansive space, Fountain Plaza I & II provides the flexibility to accommodate your specific needs. Its strategic location within the CBA Federal Way submarket ensures easy access to major transportation routes and amenities, making it an attractive option for businesses seeking a thriving and convenient location. Contact us today to explore the available spaces and schedule a viewing.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
STEEL FRAME
Total area
30,858 SF
Lot
2.5 ac (108,820 SF)
Zoning code
OP
APN
926480-0240
UPID
US90-3336867
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
by Request
Comparable Approach
Comparable
$5.59M
Blend (final)
Blend
$4.54M
Owner & transaction history
Rh Fountain Plaza Associates LLC · 9 yrs held
Rh Fountain Plaza Associates LLC
since 2016
5 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.54M
Range $4.08M – $4.99M · ±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
$147 / 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
$38,527
Tax year 2022
Assessed value
$3,659,200
Assessed 2022
Previous assessed
$3,659,200
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$1,221,000
Assessed improvement
$2,438,200
Land market value
$1,221,000
Improvement market value
$2,438,200
Total market value
$3,659,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1982
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
2
Total area
30,858 SF
Lot
2.5 ac (108,820 SF)
Zoning code
OP
APN
926480-0240
UPID
US90-3336867
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
1982
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
2
Lot
2.5 ac
Current owner
From public records · entity-resolved
Rh Fountain Plaza Associates LLC
Entity
Mailing address
PO BOX 5003, BELLEVUE, WA 98009-5003
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2016
$7,500,000
Rh Fountain Plaza Associates LLC
Franklin Street Properties Corp
Warranty Deed
$7,060,000 · East West Bank
Nov 17, 2004
—
City Of Federal Way
Federal Way City
Quit Claim Deed
related
—
Sep 14, 2001
$16,000,000
Fsp Federal Way Corp
Weyerhaeuser Co
Grant Deed
—
Jul 3, 1990
$13,256
Weyerhauser Corp
Quadrant
Grant Deed
—
—
—
Rh Ftn Plz Assocs LLC
—
Deed Of Trust
related
$9,500,000 · A10 Cap
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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