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Capitol Square 5 Properties Offered at $11,100,000 in Federal Way, WA
Investment Highlights
- 100% OCCUPIED MULTI-BUILDING OFFICE PARK
- STRONG LOCAL DEMOGRAPHICS SUPPORT TENANT DEMAND
- INDIVIDUAL PARCEL CONFIGURATION PROVIDES FUTURE EXIT FLEXIBILITY
- MEDICAL AND HEALTH SERVICE TENANT BASE
- STAGGERED LEASE EXPIRATIONS CREATE A MANAGEABLE VALUE-ADD RUNWAY
- SUBURBAN PRICING ADVANTAGE RELATIVE TO BROADER MARKET ALTERNATIVES
Executive Summary
Capitol Square is a 45,340 SF, 100% occupied office and medical park featuring 18 suites across five buildings. The property is anchored by a high-synergy mix of medical and health-service tenants, including Franciscan Medical Group, Labcorp, and various dental, chiropractic, and wellness providers. This medical oriented base, combined with Federal Way’s lower occupancy costs relative to CBD alternatives, provides investors with stable, durable in-place cash flow.
The asset offers significant strategic flexibility through its staggered lease expirations, which allow an investor to smooth rollover risk and mark rents to market over time. Uniquely, each of the five buildings is situated on its own tax parcel, creating a clear path for future value creation through phased sales, or individual building dispositions to owner-users. Positioned on 202,323 SF of land with ample parking, Capitol Square represents a stabilized suburban investment with built-in exit optionality.
The asset offers significant strategic flexibility through its staggered lease expirations, which allow an investor to smooth rollover risk and mark rents to market over time. Uniquely, each of the five buildings is situated on its own tax parcel, creating a clear path for future value creation through phased sales, or individual building dispositions to owner-users. Positioned on 202,323 SF of land with ample parking, Capitol Square represents a stabilized suburban investment with built-in exit optionality.
Property Facts
| Price | $11,100,000 | Number of Properties | 5 |
| Price / SF | $245.85 / SF | Individually For Sale | 0 |
| Cap Rate | 6.78% | Total Building Size | 45,149 SF |
| Sale Type | Investment | Total Land Area | 9.37 AC |
| Status | Active |
| Price | $11,100,000 |
| Price / SF | $245.85 / SF |
| Cap Rate | 6.78% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 45,149 SF |
| Total Land Area | 9.37 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 622 S 320th St, Federal Way, WA 98003 | Office | 11,600 SF | 1986 | - |
| 728 S 320th St, Federal Way, WA 98003 | Office | 9,780 SF | 1983 | - |
| 720 S 320th St, Federal Way, WA 98003 | Office | 8,960 SF | 1983 | - |
| 700 S 320th St, Federal Way, WA 98003 | Office | 8,064 SF | 1985 | - |
| 31906 6th Ave S, Federal Way, WA 98003 | Retail | 6,745 SF | 1987 | - |
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