Exceptional opportunity to acquire commercial site/ or Owner-user Restaurant

Highlights:

• Sale type: Owner-User or Developer
• Address: 35109 Pacific Hwy S, Federal Way, WA 98003
• Tax parcel # 2021049047
• Land area: 62,408 sf (~1.43 ac.)
• Building size: 2,400 sf
• Year built/upgraded: 1980/2015
• Current restaurant: well-established and generating strong profits
• Zoning: CE (Commercial Enterprise)
• Occupancy: 100% Owner-occupied Tenant providing short term cashflow during the entitlement period
• Price: Negotiable
• Proximity to exiting amenities in the immediate area as well as new developments:
• - mixed-use project featuring 395 apartments and 23,000 sf of retail (currently in permitting)
• - Sound Transit new $1.4 Billion light-rail Operations and Maintenance Facility on a 59-acre site: planned opening date 2029
• - Federal Way’s new light-rail station: scheduled date 2024. This extension is anticipated to increase the overall commercial traffic providing more demand to local businesses.
• - Smith Brothers Farms’ new 40,000-sf warehouse (and office) for storage and distribution.
• - Amazon new warehouse: 225,882-square-foot facility
• - The Commons Shopping Mall expansion: three new “pad” sites with free-standing buildings, totaling 16,000 sf to serve new businesses and restaurants tenants.
• For information on the light-rail system expansion project: https://www.soundtransit.org/system-expansion

Description:

eXp Commercial is pleased to present an exclusive opportunity to acquire the 35109 Pacific Hwy S Development site in Federal Way in King County. This commercial development site is strategically located along the west side of Pacific Highway S (Hwy-99) and S 352nd cross street, surrounded with abundant amenities.
The main building constructed in 1980 and upgraded in 2015 contains 2,400 sf. It is currently owner-occupied (restaurant) - profitable and turn-key for a new operator.
The trapezoid parcel totals approximately 1.43 acres of CE (Commercial Enterprise) zoning; allowing future ownership incredible development potential and flexibility.
For land redevelopment, there is the opportunity of short term cash flow during the entitlement period.

Sale type: Owner-User or Developer
Current restaurant: well-established and generating strong profits
Address: 35109 Pacific Hwy S, Federal Way, WA 98003
Tax parcel # 2021049047
Land area: 62,408 sf (~1.43 ac.)
Building size: 2,400 sf
Year built/upgraded: 1980/2015
Zoning: CE (Commercial Enterprise)
Occupancy: 100% Owner-occupied Tenant providing short term cashflow during the entitlement period
Price: Negotiable

Centralized location along Hwy-99 with excellent freeway access to I-5 offering convenient access to Seattle, Bellevue, Tacoma and SeaTac airport, and direct access to Auburn, Renton and Kent via Hwy-18.
Signalized T-intersection location with high exposure to approx. 45,000 VPD

Proximity to exiting amenities in the immediate area as well as new developments:
- mixed-use project featuring 395 apartments and 23,000 sf of retail (currently in permitting)
- Sound Transit new $1.4 Billion light-rail Operations and Maintenance Facility on a 59-acre site: planned opening date 2029
- Federal Way’s new light-rail station: scheduled date 2024. This extension is anticipated to increase the overall commercial traffic providing more demand to local businesses.
- Smith Brothers Farms’ new 40,000-sf warehouse (and office) for storage and distribution.
- Amazon new warehouse: 225,882-square-foot facility
- The Commons Shopping Mall expansion: three new “pad” sites with free-standing buildings, totaling 16,000 sf to serve new businesses and restaurants tenants.
For information on the light-rail system expansion project: https://www.soundtransit.org/system-expansion

Zoning Description:
The property is zoned CE (Commercial Enterprise), below is a sample list of permitted uses within this zoning code:

Retail
Office
Breweries, distilleries, wineries
Business, vocational, trade schools
Day care facilities
Animal kennels
Group homes
Hotels
Manufacturing and production
Warehouse – Distribution
Storage facilities
Truck stops
Vehicle Rental and Storage
Tow and taxi lots
Emergency housing and shelters
Permanent supportive housing and transitional housing
Government facilities

Complete zoning code: https://www.codepublishing.com/WA/FederalWay/#!/FederalWay19/FederalWay19240.html


High Growth Submarket:

South King County 18.61% population growth over the past decade.
200,000+ residents with average annual household incomes of $88,000+ within a 5-mile radius.
Federal Way is the 5th largest city in King County and benefits from the State Opportunity Zone status.

Documents: