32900 Pacific HwyFederal Way, WA 98003

Property Details for 32900 Pacific Hwy

Year built

1984

Construction

WOOD

Lot size

0.69 AC

Property size (Sq ft)

4,050 SF

Zone code

BC

Property type

Retail space

APN

797880-0080

APU

7978800080

Description

This exceptional 4,050 square foot retail property, situated on a 30,239 square foot lot (tax parcel #7978800080), presents a unique investment opportunity in Federal Way, WA. Located on Pacific Highway S, this single-tenant building boasts high visibility along Highway 99, between exits 320th and 348th, offering convenient access and significant exposure. The property benefits from its proximity to The Commons Shopping Mall (a 780,000 square foot Class-A mall) and the new Sound Transit light rail station, ensuring high foot traffic and accessibility. The zoning is Community Business (BC), allowing for diverse commercial and residential uses, including light industrial, automotive sales and repair, retail, office, and multi-family development. The building is currently vacant and features 33 parking spaces. This lease offering is for the north lot only. A separate listing is available for the adjacent parcel. The property is also available for purchase. This is a rare opportunity to secure a prime retail location in a thriving area with excellent transportation links and strong surrounding amenities. The property offers a single story building with no elevators. Electricity is available on site.

• CAP approach

  CAP return

  Valuation

  6%

  $1,611,032

  6.5%

  $1,487,106

  7%

  $1,380,884

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,736,881

  Geo Method

  $1,965,472

• Alternative Use

  Use

  Valuation

  Residential

  $1,254,430

  Hospitality

  $1,149,051

  Educational

  $955,997

  Medical

  $988,875

  Retail

  $1,487,106

Location Insight

City

Federal Way

County

King

State

Washington

Latitude

47.3069

Longitude

-122.313

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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