Flex Space with Fenced
For Sale
$5,500,000
27802 Pacific Hwy S, Federal Way, WA 98032
Warehouse and office configuration with paved outdoor storage, vehicle parking, and a separate shop option.
Property Size8,933 SF
Days on Market47
Property Features for 27802 Pacific Hwy S
General Information
Standard status
Active
Size
8,933 SF
Total Parking Spaces
70
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Building Size
8,933 SF
Listing Agency:
NAI Puget Sound Properties
Listed By:
Tamir Ohayon · License #45683
(425) 586-5627
Source:
Naiglobal
Added: Sep 12
Last Checked: Oct 28 at 6:43AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property offers multiple flex configurations combining warehouse, shop, office, yard, and parking components. Unit A contains ±8,000 SF, including approximately 1,500 SF of office space, with a paved and fenced outdoor area that can support vehicle parking or contractor-yard use. The space can also be divided into 7,000 SF with 1,000 SF of office area.
Unit E provides ±933 SF of shop space with a small office and roll-up door. Additional yard area and parking are available with Unit E. The property has access to I-5 and visibility along Pacific Highway S, supporting a range of industrial, retail, and contractor-oriented operations.
Unit E provides ±933 SF of shop space with a small office and roll-up door. Additional yard area and parking are available with Unit E. The property has access to I-5 and visibility along Pacific Highway S, supporting a range of industrial, retail, and contractor-oriented operations.
Key Highlights
- Unit A totals ±8,000 SF, including approximately 1,500 SF of office space
- Approximately ~25,000 SF of paved and fenced yard area
- Parking capacity for up to 70 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$159,799
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,195,980
$3.2M
Cap Rate 7%
$2,282,843
$2.3M
Cap Rate 9%
$1,775,544
$1.8M
Market Conditions
NOI Build-Up for 8,933 SF
Gross rent
$235.8K $26.40/SF
− Vacancy
−$7.5K −$0.84/SF
EGI
$228.3K $25.56/SF
− OpEx
−$68.5K −$7.67/SF
NOI
$159.8K $17.89/SF
Area
King County, WA
Vacancy
3.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,195,980
Cap Rate 7%
$2,282,843
Cap Rate 9%
$1,775,544
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.66M
NOI $159,799 @ 7.0% cap · market cap 2.91%
Second Best
Flex RnD
$1.83M
$1.60M – $2.14M
NOI $128,248 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,453 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98032, WA
38,744
Population
15,639
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
84%
High-School Grad
17.0 sq mi
ZIP Area
2,279
Density / Sq Mi
$77,413
Median Household Income
$46,105
Median Earnings
$1,782
Median Rent
$473,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and office configuration with paved outdoor storage, vehicle parking, and a separate shop option.
Where is this flex space located?
The property is located at 27802 Pacific Hwy S Federal Way, WA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Unit A totals ±8,000 SF, including approximately 1,500 SF of office space; Approximately ~25,000 SF of paved and fenced yard area; Parking capacity for up to 70 vehicles
