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    909 S 336Th St Federal Way, WA 98003
    Property profile & analytics

    909 S 336Th St, Federal Way, WA 98003

    View on Map
    • Office buildings
    • 39,516 SF
    • 2.62 lot acres
    For Lease
    $22 SF/Yr
    View Listing →
    Accessible Office Space For Rent For Lease
    $22 SF/Yr
    3,356 SF

    Accessible Office Space For Rent

    Office space with convenient access and ample parking available for rent.

    909 S 336th St, Federal Way, WA
    View Listing
    Property ID
    US90-1037588
    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 909 S 336Th St

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.62 lot acres
    Zone code
    OP
    Property type
    Office buildings
    APN
    926480-0150
    APU
    9264800150

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 1, 2018 — Omni Building LLC — Deed · related $3M · Miscellaneous Ins Co
    Oct 19, 2011 $5,000 Owner Name Unavailable Owner Name Unavailable Grant Deed · related —
    Jul 17, 2002 — Omni Building LLC Stock,jeffrey W & Leanne M Grant Deed $3M · Jeffrey W & Leanne M Stock
    Nov 12, 1997 — Jeffrey W Stock Stock,jeffrey W Quit Claim Deed · related $3M · First Mutual Savings Bank
    — — Omni Building LLC — Deed Of Trust · related $3.9M · Sterling Savings Bank
    — — Omni Building LLC — Deed Of Trust · related $1.9M · Evertrust Bank
    — — Omni Building LLC — Deed Of Trust · related $3M · Miscellaneous Ins Co
    — — All Svcs Building West Campus — Deed Of Trust · related $300k · Centrum Financial Services INC
    — — Jeffrey W Stock — Deed Of Trust · related $350k · Centrum Financial Services INC

    Description

    The Omni Building, a Class B property in King County, offers a unique investment opportunity. This three-story building, totaling 39,516 square feet, boasts a variety of office and retail spaces, ideal for multiple tenants. Built in 1979 and renovated in 1985, the property sits on a 2.62-acre lot (114,127 square feet) and includes 158 parking spaces and elevators. Currently, 9,654 square feet of space is vacant, offering immediate occupancy potential. Available spaces range from a minimum of 3,202 square feet to a maximum contiguous space of 3,226 square feet. A particularly attractive option is a ground-level 3,226 square foot space with an exterior entrance and three covered parking spaces. This space previously served as a blood donation center and features a large open area alongside numerous smaller and larger offices. A sublease opportunity is available, extending through January 2030. The building's diverse layout caters to various business needs, making it a versatile and attractive investment. The property's location in King County provides excellent access to transportation and amenities. This is a rare chance to acquire a well-maintained, multi-tenant building with significant potential for growth and return.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,907,000
      Market price range: $4.85M - $15.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Federal Way
    County
    King
    State
    Washington
    Longitude
    -122.322
    Latitude
    47.3001
    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
    2023
    $54,921
    $1,078,400
    $3,445,800
    $4,524,200
    -
    $1,078,400
    $3,445,800
    $4,524,200

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    Federal Way, WA 98003
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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.

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