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33427 Pacific Hwy S
Federal Way, WA 98003
Rainier Bldg. · Office Property For Sale
Investment Highlights
- Strategic Location
- Transit-Oriented Development
- Strong Tenant Base:
Executive Summary
Investment Opportunity: Prime Federal Way Commercial Building
This is a rare opportunity to acquire a high-visibility, freestanding commercial building located at Pacific Highway S, Federal Way, a major regional retail corridor. The property offers significant investment potential due to its strategic location, strong tenant base, and proximity to major infrastructure developments.
Key Investment Highlights
1. Strategic Location: Situated on a high-traffic street with excellent visibility and access to both Pacific Highway S and S 336th Street. The location benefits from almost 35,000 daily traffic counts, drawing high consumer traffic to the site.
2. Strong Tenant Base: The property features established, long-term tenants, including an Enterprise Rent-A-Car location, a butcher shop, and a massage spa, providing immediate and stable cash flow.
3. Transit-Oriented Development: The location is approximately 1.5 miles from the new Federal Way Link Light Rail Station. This expansion is anticipated to substantially increase overall commercial traffic and demand for local businesses.
4. Signage & Access: Excellent street presence is enhanced by prominent monument signage maximizes exposure for all tenants.
5. Surrounding Amenities: The property is in the heart of the Federal Way trade area, less than a mile from the Federal Way Commons Mall and numerous national retailers, including Safeway, Walmart, Costco, and Trader Joe's, which creates strong retail synergy.
This is a rare opportunity to acquire a high-visibility, freestanding commercial building located at Pacific Highway S, Federal Way, a major regional retail corridor. The property offers significant investment potential due to its strategic location, strong tenant base, and proximity to major infrastructure developments.
Key Investment Highlights
1. Strategic Location: Situated on a high-traffic street with excellent visibility and access to both Pacific Highway S and S 336th Street. The location benefits from almost 35,000 daily traffic counts, drawing high consumer traffic to the site.
2. Strong Tenant Base: The property features established, long-term tenants, including an Enterprise Rent-A-Car location, a butcher shop, and a massage spa, providing immediate and stable cash flow.
3. Transit-Oriented Development: The location is approximately 1.5 miles from the new Federal Way Link Light Rail Station. This expansion is anticipated to substantially increase overall commercial traffic and demand for local businesses.
4. Signage & Access: Excellent street presence is enhanced by prominent monument signage maximizes exposure for all tenants.
5. Surrounding Amenities: The property is in the heart of the Federal Way trade area, less than a mile from the Federal Way Commons Mall and numerous national retailers, including Safeway, Walmart, Costco, and Trader Joe's, which creates strong retail synergy.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
9,300 SF
Building Class
C
Year Built
1976
Price
$2,400,000
Price Per SF
$258.06
Cap Rate
5.80%
NOI
$139,200
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,650 SF
Slab To Slab
10’
Building FAR
0.28
Lot Size
0.77 AC
Zoning
CC, Federal Way
Parking
36 Spaces (4.34 Spaces per 1,000 SF Leased)
Amenities
- Signage
Property Taxes
| Parcel Number | 172104-9112 | Improvements Assessment | $770,200 |
| Land Assessment | $900,500 | Total Assessment | $1,670,700 |
Property Taxes
Parcel Number
172104-9112
Land Assessment
$900,500
Improvements Assessment
$770,200
Total Assessment
$1,670,700
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