Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    505 South 336Th St Federal Way, WA 98003
    Property profile & analytics

    505 South 336Th St, Federal Way, WA 98003

    View on Map
    • Office buildings
    • 93,658 SF
    • 4.33 lot acres
    For Lease
    $28 SF/Yr
    View Listing →
    Federal Way Office Space Available For Lease
    $28 SF/Yr
    2,484 SF

    Federal Way Office Space Available

    Office space available for lease in Federal Way, Washington.

    505 South 336th Street, Federal Way, WA
    View Listing
    Property ID
    US90-1207623
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 505 South 336Th St

    Year built
    1982
    Construction
    STEEL FRAME
    Lot size
    4.33 lot acres
    Zone code
    OP
    Property type
    Office buildings
    APN
    926480-0270
    APU
    9264800270

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 19, 2019 — Rh Ftn Plz Assocs LLC — Grant Deed · related $9.5M · A10 Cap
    Dec 16, 2016 $7,500,000 Rh Fountain Plaza Associates LLC Franklin Street Properties Corp Warranty Deed $7.1M · East West Bank
    Sep 14, 2001 $16,000,000 Weyerhaeuser Co — Grant Deed · related —
    Jul 3, 1990 $13,256 Weyerhauser Corp Quadrant Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,864,000
      Market price range: $11.5M - $37.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.327
    Latitude
    47.2994
    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
    $125,691
    $2,263,700
    $10,091,700
    $12,355,400
    -
    $2,263,700
    $10,091,700
    $12,355,400

    Comparable in this City

    • Value Estimation by Request
      500 SF

      35053 Enchanted S Pkwy

      OFFICE BUILDING
      35053 Enchanted S Pkwy, Federal Way, WA 98003
      View Details
    • Value Estimation
      $810,000
      3,300 SF

      27203 Pacific S Hwy

      OFFICE BUILDING
      27203 Pacific S Hwy, Federal Way, WA 98003
      View Details
    • Value Estimation
      $1,110,000
      6,240 SF

      1607 341st Pl

      OFFICE BUILDING
      1607 341st Pl, Federal Way, WA 98003-6865
      View Details
    • Value Estimation
      $5,150,000
      33,198 SF

      33600 6th S Ave

      OFFICE BUILDING
      33600 6th S Ave, Federal Way, WA 98003-6743
      View Details
    • Value Estimation
      $1,100,000
      4,636 SF

      33438 1st S Way

      OFFICE BUILDING
      33438 1st S Way, Federal Way, WA 98003-6214
      View Details
    • Value Estimation
      $5,745,000
      39,516 SF

      909 336th St

      OFFICE BUILDING
      909 336th St, Federal Way, WA 98003-7394
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Office Location in Federal

      Ideally located office building near future Sound Transit Station.
      2505 S 320Th St, 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
    • Contact for pricing
      2,181 SF

      Fully Occupied Seattle MSA Property

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

      Federal Way Office Building For Sale

      Single tenant office building leased to State of Washington.
      616 S 348Th St, Federal Way, WA 98003
      View Details
    • Contact for pricing
      Pending

      Value-Add Office Building For Sale

      50,150 SF office building on 3.11 acres.
      33400 8Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing
      4,800 SF

      Federal Way Office Building

      Office building for sale in Federal Way, Washington.
      918 S 348Th St, Federal Way, WA 98003
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Federal Way Class A Office

      Two-story office building with covered parking and highway access.
      33400 9Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      Prestigious Office Building in Federal Way

      Class A office spaces available for lease in Federal Way.
      33301 9Th Ave S, Federal Way, WA 98003
      View Details
    • Contact for pricing

      High-Visibility Office Suite For Rent

      Second-floor office suite with convenient access and strong visibility.
      33427 Pacific Hwy S, Federal Way, WA 98003
      View Details
    • Contact for pricing
      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.
      33434 8Th Ave S, Federal Way, WA 98003
      View Details
    • $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
    View Listing
    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.
    505 South 336Th St
    Federal Way, WA 98003
    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

    Thank You for Inquiry
    505 South 336Th St, Federal Way, WA, 98003
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!