37405 Pacific Hwy S, Federal Way, WA 98003

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

One of 78 reachable small-bay industrial buildings in Federal Way. Larger than 6% of small-bay industrial buildings in Federal Way (median 11,294 SF), derived from assessor records.

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Building size: 2,560 SF, King County Assessor
Lot size: 24,000 SF, King County Assessor
Year built: 1972, King County Assessor
Stories: 1, King County Assessor
Predominant use: Warehouse, King County Assessor
Assessed value: $244,800, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $95.63/SF, derived from assessor records
Lot coverage: 11%, derived from assessor records
Vintage: 1970s vintage
Zoning: RS15.0, King County
County use code: Warehouse

Nearby comparable buildings

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

35516 Pacific Hwy S, Federal Way · 1.4 mi · 1,237 SF · built 1956 · assessed $521.18/SF
35400 Pacific Hwy S, Federal Way · 1.4 mi · 3,000 SF · built 1951 · assessed $405.60/SF
1215 S 356th St, Federal Way · 1.4 mi · 6,784 SF · built 1931 · assessed $413.30/SF
1505 S 356th St, Federal Way · 1.5 mi · 18,620 SF · built 1978 · assessed $193.30/SF
35205 Pacific Hwy S, Federal Way · 1.5 mi · 88,911 SF · built 2011 · assessed $152.81/SF
37307 Enchanted Pkwy S, Federal Way · 1.5 mi · 9,275 SF · built 1974 · assessed $78.68/SF

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Sale history and market context

MakeMe Estimate: $448,035 (estimated market value), with a likely range of $386,353 to $499,844 (half of recent verified sales in this segment landed inside that range). Based on 96 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2022 (about 4 years) per recorded transfers.

2 administrative transfers (no consideration), 2022 to 2025

2022-03-11: $213,500 from Private party to Private party (part of a 5-parcel sale; price is the whole deal), rec. 20220316001079

2022-03-04: transfer from Private party to Private party (non-market transfer), rec. 20220316001078

1999-03-01: $125,000 from Private party to Private party (part of a 5-parcel sale; price is the whole deal), rec. 199903251993

1992-06-22: $24,780 from Private party to Private party (part of a 5-parcel sale; price is the whole deal), rec. 199207090731

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 $84,800 (2011) to $244,800 (2026), up 189% over 15 years, per county tax rolls. The 2026 roll splits $244,800 into $180,000 land and $64,800 improvements.

Zoning: RS15.0 (per King County)

Lot: 24,000 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Storage Warehouse 2,560 SF (county building sections)

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