Three-Story Retail-Office
16705 Southcenter Pkwy Tukwila, WA 98188
16705 Southcenter Pkwy, Tukwila, WA, 98188
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For Sale
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Three-level building with elevator, central atrium, dock-high loading, and street-level storefront exposure.
Property Size23,422 SF
Price / SF$251.47
Days on Market272
Property Features for 16705 Southcenter Pkwy
General Information
- Standard status
- Active
- Size
- 23,422 SF
- Property subtype
- RETAIL
Listing agency
Kidder Mathews
(206) 926-9292
Listed by
Mike King, CCIM · License #82677
(206) 926-9292
Source
Moodyscre
Added: Oct 23, 2025 Updated: Jul 21 at 3:03AM Checked: Jul 21 at 3:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews
Investment Insights
Based on property information with market context.
This freestanding three-story building is approximately 23,422 SF and served by an elevator, with a central atrium and mezzanine that define the interior layout. The property is designed to accommodate multiple uses, including street-level retail, second-floor showroom/office space with open spans and perimeter glass, and a third-floor penthouse configured for residential or high-end office use. A 2-car garage, elevator lockout, and a remodeled kitchen with quartz counters and new appliances support flexible third-floor concepts.
Street-level retail totals approximately 9,676 SF and features broad storefront exposure to Southcenter Parkway. The second floor totals approximately 11,606 SF with a receiving area. The building includes a 4-foot dock-high loading door plus an additional 2-foot high loading bay, and it offers 39 striped parking stalls.
Tukwila’s TUC-CC (Commercial Corridor) zoning supports a wide range of commercial uses. Recent interior improvements include LVP flooring on the first floor, fresh interior and exterior paint, new carpet on the second and third floors, and the third-floor kitchen upgrade, keeping the building positioned as clean, bright, and move-in ready.
Street-level retail totals approximately 9,676 SF and features broad storefront exposure to Southcenter Parkway. The second floor totals approximately 11,606 SF with a receiving area. The building includes a 4-foot dock-high loading door plus an additional 2-foot high loading bay, and it offers 39 striped parking stalls.
Tukwila’s TUC-CC (Commercial Corridor) zoning supports a wide range of commercial uses. Recent interior improvements include LVP flooring on the first floor, fresh interior and exterior paint, new carpet on the second and third floors, and the third-floor kitchen upgrade, keeping the building positioned as clean, bright, and move-in ready.
Key Highlights
- Approximately 23,422 SF across three levels with an elevator and central atrium/mezzanine design.
- Street‑level retail: about 9,676 SF with broad storefront exposure along Southcenter Parkway.
- Second floor: about 11,606 SF showroom/office space with open spans, perimeter glass, and a receiving area.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $843.2k | $36.00 |
| − Vacancy | −$184.7k | −$7.88 |
| EGI | $658.5k | $28.12 |
| − OpEx | −$164.6k | −$7.03 |
| NOI | $493.9k | $21.09 |
23,422 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.06M
$6.17M – $8.23M
NOI $493,900 @ 7.0% cap · market cap 8.39%
Second Best
Retail
$5.99M
$5.24M – $6.98M
NOI $418,988 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$9.38M
$8.21M – $10.94M
NOI $656,678 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Three-level building with elevator, central atrium, dock-high loading, and street-level storefront exposure.
Where is this retail space located?
The property is located at 16705 Southcenter Pkwy Tukwila, WA.
What is the asking price?
The asking price for this property is $5,890,000.
What are key features of this property?
This property features: Approximately 23,422 SF across three levels with an elevator and central atrium/mezzanine design.; Street‑level retail: about 9,676 SF with broad storefront exposure along Southcenter Parkway.; Second floor: about 11,606 SF showroom/office space with open spans, perimeter glass, and a receiving area.
