2400 S 320th St Federal Way, WA

This property offers a strategic land acquisition opportunity in Federal Way, Washington, near the upcoming Federal Way Link Light Rail Station, scheduled to open in late 2025. It provides direct access to Interstate 5, facilitating regional connectivity. The zoning permits development up to 200 feet, making it suitable for a mixed-use project that could include residential, retail, and office spaces. This transit-oriented redevelopment site offers long-term potential. The property is currently leased to Black Angus Steakhouse through November 30, 2026, with an option for a five-year renewal. The existing lease provides income while allowing time for planning as the $3.1 billion light rail extension connects Federal Way to Downtown Seattle, Sea-Tac International Airport, and Tacoma. Federal Way's affordability and infrastructure investments are driving demand for housing, retail, and commercial development. The incoming light rail station is expected to accelerate growth in the surrounding area. The location benefits from a stable employment base, with major employers nearby, including Amazon, DaVita Healthcare Partners, Virginia Mason Medical Center, St. Francis Hospital, Federal Way Public Schools, and World Vision International. The property, with its flexible zoning and strong fundamentals, is suitable for developers and investors looking to participate in Federal Way’s growth. The property size is 10350 square feet.