3450 344Th WayFederal Way, WA 98001

Property Details for 3450 344Th Way

Lot size

2.47 AC

Zone code

OP-1

Property type

Retail properties

Property subtype

Parking lots & garages

APN

726120-0195

APU

7261200195

Description

This exceptional two-story Class B office building, totaling 65,462 square feet, is situated in King County's CBA Auburn submarket. Built in 1999 and renovated in 2005, the property offers flexible coworking space options within a single building on a 3.5-acre lot. The zoning is OP-1. Currently, there are 6,986 square feet of vacant space available, divisible into units as small as 1,953 square feet, with a maximum contiguous space of 2,808 square feet. Four spaces are currently available, ranging in size from 374 to 3,666 square feet. The building enjoys a prime location adjacent to the Weyerhaeuser World Headquarters, providing convenient access to major transportation arteries including I-5, SR-18, and SR-167. Net Net Net (NNN) lease terms include all utilities and suite janitorial services. This presents a unique opportunity for businesses seeking flexible and well-located office space in a thriving submarket. The property offers a blend of modern amenities and convenient access, making it an ideal choice for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $42,750,416

  6.5%

  $39,461,924

  7%

  $36,643,216

• Comparable approach

  Method

  Valuation

  Relative Method

  $72,626,016

  Geo Method

  $52,155,848

• Alternative Use

  Use

  Valuation

  Residential

  $33,287,610

  Hospitality

  $30,491,272

  Educational

  $25,368,380

  Medical

  $26,240,838

  Retail

  $39,461,924

Location Insight

City

Federal Way

County

King

State

Washington

Latitude

47.294

Longitude

-122.29

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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