1506 S 348th St, Federal Way, WA 98003

Small-Bay Industrial · Federal Way · Seattle-Bellevue metro, WA

Imagery suggests: auto service facility, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 78 reachable small-bay industrial buildings in Federal Way. Larger than 28% of small-bay industrial buildings in Federal Way (median 11,294 SF), derived from assessor records.

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Building size: 5,900 SF, King County Assessor
Lot size: 25,700 SF, King County Assessor
Year built: 1983, King County Assessor
Stories: 1, King County Assessor
Predominant use: Service Garage, King County Assessor
Assessed value: $1,491,400, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $252.78/SF, derived from assessor records
Lot coverage: 23%, derived from assessor records
Vintage: 1980s vintage
Zoning: CE, King County
County use code: Service Building
Construction (observed): metal, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

34703 16th Ave S, Federal Way · 0 mi · 4,800 SF · built 1977 · assessed $252.79/SF
34627 16th Ave S, Federal Way · 0.1 mi · 8,650 SF · built 1980 · assessed $295.36/SF
34621 16th Ave S, Federal Way · 0.1 mi · 4,250 SF · built 1981 · assessed $252.78/SF
34611 16th Ave S, Federal Way · 0.1 mi · 7,950 SF · built 1974 · assessed $295.36/SF
34603 16th Ave S, Federal Way · 0.1 mi · 5,289 SF · built 1980 · assessed $252.77/SF
34415 16th Ave S, Federal Way · 0.2 mi · 13,452 SF · built 1996 · assessed $295.36/SF

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Sale history and market context

MakeMe Estimate: $2,240,969 (estimated market value), with a likely range of $1,573,701 to $2,481,875 (half of recent verified sales in this segment landed inside that range). Based on 86 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2004 (about 22 years) per recorded transfers.

2004-12-27: transfer from Private party to Dinges Enterprises LLC (non-market transfer), rec. 20041228001184

1994-09-01: $450 from Private party to Puget Sound Power and Light CO (part of a 5-parcel sale; price is the whole deal), rec. 199409120000

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $666,400 (2011) to $1,491,400 (2026), up 124% over 15 years, per county tax rolls. The 2026 roll splits $1,491,400 into $899,500 land and $591,900 improvements.

Zoning: CE (per King County)

Lot: 25,700 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Floor and use mix: Garage, Service Repair 5,900 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)