21616 7th S Pl, Des Moines, WA 98198-6123
This exceptional commercial land parcel in Des Moines, WA, presents a unique investment opportunity. Located at 21616 7th Pl S, 98198, this property boasts a lot size ranging from 9,069 to 25,080 square feet and is zoned for high-density multifamily development. Its prime location offers unparalleled access to amenities and key transportation routes. Situated just one block from the Des Moines Marina, this property provides stunning waterfront views that will be visible to upper floors in any future development. Furthermore, its proximity to I-5 and Seattle International Airport (within ¾ of a mile) ensures excellent connectivity. The property's adjacency to the rapidly expanding Wesley Retirement Community adds to its appeal, providing a built-in market for potential residential developments. Des Moines itself is a thriving waterfront community midway between Seattle and Tacoma, offering a vibrant atmosphere and a strong local economy supported by Highline College, with its 16,000+ students and 550 employees. This location offers housing opportunities for all income levels and is experiencing significant growth, making this land a highly attractive investment for developers seeking to capitalize on the area's potential. The asking price for this exceptional property is $2,400,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
D-C · Des Moines, WADes Moines. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.