31130 28th Ave S, Federal Way, WA 98003

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

One of 83 reachable small-bay industrial buildings in Federal Way. Larger than 86% of small-bay industrial buildings in Federal Way (median 11,040 SF), derived from assessor records.

Usable building area
65,795 SF, King County Assessor
County gross area
66,125 SF, King County Assessor
Excluded area
330 SF outside primary usable area
Lot size
564,109 SF, King County Assessor
Year built
2025, King County Assessor
Stories
1, King County Assessor
Buildings on parcel
10, King County Assessor
Predominant use
Service Building, King County Assessor
Assessed value
$14,619,900, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$222.20/SF, derived from assessor records
Usable area / lot
0.12, derived from assessor records
Vintage
2020s vintage
Zoning
RS7.2, King County
County use code
Service Building

Nearby comparable buildings

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

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Sale history and market context

MakeMe Estimate: $15.9M (estimated market value), with a likely range of $14.4M to $19.8M (half of recent verified sales in this segment landed inside that range). Based on 5 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.

lower confidence: 1 comparable sale within 3 miles; nearest 2.1 mi. This property type carries wider measured error; treat the estimate as a starting point.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Industrial in Federal Way

3 sales in the last 12 months and 3 in 24 (newest verified sale 2026-01).

Thin market: under 5 verified sales in the last 24 months; treat these aggregates as directional.

Computed from 81 verified arm's-length sales in King County public records (3 in the trailing 24 months). Free public records. Not an appraisal.

Value over time

$0$5M$10M$15M$20M202420252026$15.9M$14.6MCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $820,700 (2024) to $14,619,900 (2026), up 1681% over 2 years, per county tax rolls. The 2026 roll splits $14,619,900 into $3,243,600 land and $11,376,300 improvements.

Taxes

Permit history

Source: King County permit records (newest first).