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33650 6th Ave S
Federal Way, WA 98003
Ridgewood Center · Office Property For Sale
Executive Summary
This fully stabilized office building offers investors a reliable income stream supported by a diverse mix of eight tenants representing a range of industries, including both professional office users and medical service providers. This tenant diversity reduces exposure to any single sector and enhances overall asset resilience. With a Weighted Average Lease Term (WALT) of approximately 3.85 years, the property offers durable cash flow supported by staggered lease maturities. The staggered lease maturities further contribute to long-term cash flow stability, positioning the asset as a low-risk, income-generating investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
32,334 SF
Building Class
B
Year Built
1989
Price
$6,950,000
Price Per SF
$214.94
Cap Rate
8.71%
NOI
$605,549
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
10,778 SF
Slab To Slab
11’
Building FAR
0.37
Lot Size
2.00 AC
Zoning
OP - OP (Office Park)
Parking
135 Spaces (4.18 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Storage Space
- Balcony
Property Taxes
| Parcel Number | 926480-0210 | Improvements Assessment | $4,604,800 |
| Land Assessment | $1,216,800 | Total Assessment | $5,821,600 |
Property Taxes
Parcel Number
926480-0210
Land Assessment
$1,216,800
Improvements Assessment
$4,604,800
Total Assessment
$5,821,600
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