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Property profile

301 Strander Blvd Tukwila, WA 98188

OFF-MARKET
Outlet malls
Property ID
US90-1495566
113,273 SF 8.09 ac lot Built 1990
Entity Owned 37-yr Hold Free & Clear

Property summary

AI-generated overview

Southcenter Plaza, located at 301 Strander Blvd, Tukwila, WA 98188, offers exceptional retail and restaurant opportunities within a thriving commercial hub. This 172,968 square foot, multi-tenant property features three single-story buildings situated on a 352,400 square foot lot. Built in 1990 and renovated in 1998, the property boasts 18 suites and 785 parking spaces, ensuring ample convenience for customers and employees. The property is zoned TUC and has an APN of 2623049005. Currently, there are two available spaces ranging from 1,500 to 4,200 square feet. The property benefits from a highly visible location in the Southcenter submarket cluster, directly across from Southcenter Mall, a major regional shopping destination with strong national tenants. This prime location provides easy access to I-5 and I-405, maximizing exposure to a large consumer base. Strong co-tenants include Sola Salon Studios, Corner Bakery Café, Xfinity, Starbucks, Chase Bank, and Jersey Mike's. The area boasts robust demographics and a substantial employment base of over 141,000 employees within a 5-mile radius, including those employed at Southcenter Mall, Boeing, Seattle-Tacoma International Airport, Alaska Airlines Headquarters, and the Tukwila/Kent industrial corridor. Annual tourism further enhances the area's economic vitality, with approximately 25,000 tourists shuttled to retailers from nearby airport hotels. Property taxes are $10 per square foot. This location offers unparalleled access to the South Sound's largest shopping hub, making it an ideal investment opportunity.

Property profile

Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1990
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 113,273 SF
Lot 8.09 ac (352,400 SF)
Zoning code TUC-P
APN 262304-9005
UPID US90-1495566

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
$17.58M

Owner & transaction history

since 1989
2 recorded transactions
1989
$4.8M
1988
$5.7M

Zoning & alternative use

TUC-P · Tukwila, WA
Zoning description

The northern edge of the Pond District is intended to provide an area of higher-density mixed-use development over retail, restaurants and services, oriented towards the Pond and a paved waterfront esplanade

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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