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Landmark Square 15500 S 1st Ave S 16,827 SF 100% Leased Retail Building Burien, WA 98148 $6,572,100 CAD ($390.57 CAD/SF) 6.30% Cap Rate
Executive Summary
Landmark Square is a 16,827 SF multi-tenant retail center located at 15500 1st Ave S in Burien, WA, one of the most active retail corridors in South King County. The property is 100% occupied and anchored by nationally recognized tenants including O’Reilly Auto Parts, Subway, MultiCare Health System, and Cricket Wireless. The offering presents a compelling opportunity to acquire a stabilized, cash-flowing asset with embedded rent growth and value-add upside through future mark-to-market lease adjustments.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,827 SF
Building Class
C
Year Built/Renovated
1988/1994
Price
$6,572,100 CAD
Price Per SF
$390.57 CAD
Cap Rate
6.30%
NOI
$414,063 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
1.47 AC
Opportunity Zone
Yes
Zoning
CR, UC Overlay - Regional Commercial (CR) with Urban Center (UC) Overlay
Parking
77 Spaces (4.58 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signalized Intersection
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 202304-9482 | Improvements Assessment | $4,324,719 CAD |
| Land Assessment | $2,297,191 CAD | Total Assessment | $6,621,910 CAD |
Property Taxes
Parcel Number
202304-9482
Land Assessment
$2,297,191 CAD
Improvements Assessment
$4,324,719 CAD
Total Assessment
$6,621,910 CAD
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Landmark Square | 15500 S 1st Ave S
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