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Property profile & analytics
FOR SALE
Commercial land

35415 SW 21St Ave Federal Way, WA 98023

1.09 ac lot
Trust Owned 6-yr Hold ~ Est. High Equity
Property ID
US90-2040520
Property summary
AI-generated overview

This exceptional 3.23-acre development site in Federal Way, Washington presents a compelling investment opportunity. Located at 35415 21st Ave SW, 98023, this property comprises four parcels (APN: 2521039051, 2521039040, 2521039041, 2521039037) and is zoned Neighborhood Business (BN). Its strategic location offers unparalleled access to major transportation arteries including Highway 99, 509, I-5, and Highway 18, ensuring convenient connectivity throughout the region. The site is surrounded by existing residential development and is in close proximity to a variety of retail, shopping, and service amenities, creating a vibrant and desirable location for future development. The BN zoning allows for a diverse range of uses, including office, retail, multifamily residential, restaurants, and churches, providing significant flexibility for potential projects. Detailed information regarding permitted uses and regulations can be found in the Federal Way Revised Code Chapter 19.215, accessible at https://www.codepublishing.com/WA/FederalWay/. This prime location and flexible zoning make this property an ideal canvas for a variety of development projects. King County location offers access to a strong workforce and established infrastructure. Don't miss this chance to acquire a highly desirable development site in a thriving community.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1.09 ac (47,514 SF)
Zoning code BN
APN 252103-9037
UPID US90-2040520
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
$985k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$955k
Owner & transaction history
Hong Marital Trust · 6 yrs held
Hong Marital Trust
since 2020
Last sale
$900,000
5 recorded transactions
2020
Price N/A
2006
$900,000
1990
$800,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
BN · Federal Way, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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