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Property profile & analytics
OFF-MARKET Estimated value $4,075,000
Retail space

16705 Southcenter Pkwy Tukwila, WA 98188-3308

23,422 SF 0.84 ac lot Built 1978
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US90-0468936
Property summary
AI-generated overview

This exceptional freestanding retail property, located at 16705 Southcenter Pkwy in Tukwila, WA, presents a unique investment opportunity. Boasting 23,422 square feet on a 36,480 square foot lot, this three-story building, constructed in 1978 and renovated in 2010, offers unparalleled visibility and accessibility with over 28,000 vehicles passing daily. The property features a striking central atrium and mezzanine, abundant natural light, and an elevator servicing all three floors, including a private penthouse lock-down for enhanced security. The ground floor encompasses 9,676 square feet of street-level retail space, complemented by 10,070 square feet of showroom/office space on the upper floors. Logistics are streamlined with a complete receiving and loading area featuring two large dock-high doors and a designated loading zone. Further enhancing the property's appeal is a separate two-car residential garage and a rare 3-bedroom, 2-bathroom penthouse rooftop, ideal for owner occupancy, corporate events, or as a conference center. The property is currently 100% occupied under an Absolute NNN lease expiring March 31, 2025, with a remaining lease term of approximately 0.4 years. Ample parking is provided with 39 spaces. The asking price is $6,490,000, and the property is zoned TUC-CC. This is a truly exceptional opportunity to acquire a prime retail asset in a high-traffic location with significant upside potential.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1978
Construction WOOD
Total area 23,422 SF
Lot 0.84 ac (36,480 SF)
Zoning code TUC-CC
APN 537920-0310
UPID US90-0468936
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.08M
Owner & transaction history
Retail Center LLC · 7 yrs held
Retail Center LLC
since 2019
7 recorded transactions
2019
Price N/A
2019
$4.1M
2015
$4.0M
2004
Price N/A
2004
$1.3M
2001
Price N/A
1969
Price N/A
Zoning & alternative use
TUC-CC · Tukwila, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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