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    OFF-MARKET Estimated value $17,575,000
    Outlet malls

    301 Strander Blvd, Tukwila, WA 98188-2971

    113,273 SF 8.09 ac lot Built 1990
    Entity Owned 37-yr Hold Free & Clear
    Property ID
    US90-1495566
    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
    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
    $17.58M
    Owner & transaction history
    Dayton Hudson Corp · 37 yrs held
    Dayton Hudson Corp
    since 1989
    2 recorded transactions
    1989
    $4.8M
    1988
    $5.7M
    Zoning & alternative use
    TUC-P · Tukwila, WA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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