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Black Angus 2400 S 320th St 10,350 SF Retail Building Federal Way, WA 98003 $8,145,700 ($787.02/SF)
Investment Highlights
- Close proximity to Light Rail Station
Executive Summary
This is a prime transit-oriented redevelopment site with minimal near-term income and significant long-term potential. The property is leased to Black Angus Steakhouse through November 30, 2026, with one five-year renewal option. The current lease provides modest holding income, allowing time for entitlement and planning as the $3.1 billion light rail extension reshapes Federal Way, linking the city to Downtown Seattle, Sea-Tac International Airport, and Tacoma.
Federal Way’s affordability, diverse community, and major infrastructure investments continue to drive demand for housing, retail, and commercial development. The incoming light rail station is expected to accelerate growth and transform the surrounding area into a stronger regional hub.
The property is supported by a stable employment base, with nearby major employers including:
• Amazon
• DaVita Healthcare Partners
• Virginia Mason Medical Center
• St. Francis Hospital
• Federal Way Public Schools
• World Vision International
This is a rare opportunity to secure a centrally located, transit-adjacent parcel with flexible zoning, strong fundamentals, and meaningful long-term upside, an ideal acquisition for developers and investors looking to participate in Federal Way’s next stage of growth.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Positioned in Federal Way’s Central Business District, the site offers prominent ±275 feet of frontage along S 320th Street with excellent visibility and direct access. City Center–Core (CC-C) zoning allows a wide range of commercial uses, supported by an efficient rectangular layout that maximizes usable space. The property is approximately 0.3 miles from the Federal Way Downtown Link light-rail station, enhancing walkability and accessibility for employees and customers.
| Space | Size | Space Use | Position | Available |
| Full Building | 10,350 SF | Retail | - | Jan 2027 |
Full Building
| Size |
| 10,350 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Jan 2027 |
Full Building
| Size | 10,350 SF |
| Space Use | Retail |
| Position | - |
| Available | Jan 2027 |
Positioned in Federal Way’s Central Business District, the site offers prominent ±275 feet of frontage along S 320th Street with excellent visibility and direct access. City Center–Core (CC-C) zoning allows a wide range of commercial uses, supported by an efficient rectangular layout that maximizes usable space. The property is approximately 0.3 miles from the Federal Way Downtown Link light-rail station, enhancing walkability and accessibility for employees and customers.
Nearby Major Retailers
Property Taxes
| Parcel Number | 092104-9276 | Improvements Assessment | $1,180,300 (2024) |
| Land Assessment | $2,850,900 (2024) | Total Assessment | $4,031,200 (2024) |
Property Taxes
Presented by
Black Angus | 2400 S 320th St
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