16901-16813 Southcenter Pkwy, Tukwila, WA 98188
Leasehold sale of retail improvements adjacent to Southcenter Mall, with ground leases set to expire in 17 and 19 years.
- Added:
- Jun 22, 2026
- Days on Market:
- 12
- Last Refresh:
- Jul 1 at 5:22 am
Property Features for 16901-16813 Southcenter Pkwy
General Information
- Standard status
- Active
- Size
- 52,139 SF
- Lot size
- 3.55 Acres
- Property subtype
- RETAIL
Listing office NAI Puget Sound Properties (425) 586-5608
Listing date Jun 22, 2026
Source Moodyscre
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 NAI Puget Sound Properties
HighLights
- Leasehold sale of retail improvements adjacent to Southcenter Mall
- 52,139 SF of retail space on a 3.55‑acre site
- Ground leases expire in 17 and 19 years
- Stated 23%+ stabilized cap rate and 20%+ IRR potential through ground lease expiration
- Building listed at $67 per foot (leasehold improvements); price $3,500,000
Overview
The property is described as being adjacent to Southcenter Mall, which places it in a retail setting where tenants typically benefit from proximity to established shopping demand. The remarks identify this adjacency as a core differentiator for the site.
For investors or operators evaluating leasehold structures, this is a focused purchase tied to the existing ground-lease expirations. The seller’s materials indicate potential value based on ground-lease timing, including a reported 23%+ stabilized cap rate and a 20%+ IRR potential through ground lease expiration, along with a stated low basis entry point of $67 per foot on the building. Buyers should review the ground-lease terms and expiry schedules as they relate to occupancy, renewal expectations, and post-expiration operating plans.
Current Use by Public Records
Similar Places Nearby
- Parkway Square Shopping Center — 16876 Southcenter Pkwy, Tukwila, WA 98188
- Parkway Super Center — 17720 Southcenter Pkwy, Tukwila, WA 98188
- Park Place Shopping Center — 17555 Southcenter Pkwy, Tukwila, WA 98188
- ChargeItSpot — 2800 southcenter mall, tukwila, wa 98188
- Southcenter Square — 17100-17250 Southcenter Pkwy, Tukwila, WA 98188
Location Insight
- Map
- Local Demand
- City
- Tukwila
- County
- King
- State
- Washington
- Longitude
- -122.2633827
- Latitude
- 47.451276
