928 - 174th South st - Spanaway's next Apartment Complex 8.5 Acres of Commercial Land Offered at $5,500,000 in Spanaway, WA 98387

928 174th St S, Spanaway, WA 98387
$5,500,000
Awesome opportunity for an apartment developer! Zoning is Urban Corridor (UCOR), with 24-60 dwellings per acre. Which means that it could receive between 192 – 480 units. The zoning allows for 55’ height limit, with the potential to increase the height limit to 75’ through bonus programs. Easy access onto Spanaway loop rd and about a 10 min drive to the base.
Located in the rapidly expanding south unincorporated area of Pierce County, this Spanaway property is on 8.54 Acres, 440’x880’. Comprised of (3) separate contiguous lots. Strategically at the JBLM future cross base hwy intersection.
This property has it all: a boundary line survey, tree survey, NO OAK TREES, NO WILDLIFE, NO WETLANDS, FLAT W/ 4’ of TOPOGRAPHY, 2 possible entrances to property, Utility = PC Sewer coming in summer 2026, Utility = Spanaway Water 12” Mains @ north & south property lines, Utility = Stormwater is easy onsite as it’s the best “Spanaway Gravely Sandy Loam Soil Series”, Utility = High speed internet @ street, Utility = Tacoma Power @ north & south property lines, and approximately $150,000 of market-able timber. Some older designs are included for what we were considering building, as an FYI. Pierce County Pre-Application information forthcoming.
The most recent comparable property: 5114 112th Street E Tacoma, WA 98446 | MLS #1894109
Sorry, but NO protracted 18-–24-month long developer agreements, as this is literally a NO BRAINER for a developer. Buyer to verify all information. Feasibility period could be a few months if needed.
No key box, only serious buyers, please but don’t enter into the property. Price determined by comps and ease of development, and lack of constraints. Ground lease could be an option, but preference is to sell.
*willing to pay $35,000 towards buyer's agent commission, based on advertised sales price.