2400 S 320th St
Federal Way, WA 98003
Black Angus · Retail Property For Sale

This is s a rare opportunity to acquire a strategic land play in the heart of Federal Way, Washington. The property is within walking distance of the new Federal Way Link Light Rail Station, opening in late 2025, and offers direct access to Interstate 5, creating exceptional regional connectivity. With zoning that allows development of up to 200 feet, this site is well suited for a mixed-use project incorporating residential, retail, and office uses.
This is a prime transit-oriented redevelopment site with minimal near-term income and significant long-term potential. The property is leased to Black Angus Steakhouse through November 30, 2026, with one five-year renewal option. The current lease provides modest holding income, allowing time for entitlement and planning as the $3.1 billion light rail extension reshapes Federal Way, linking the city to Downtown Seattle, Sea-Tac International Airport, and Tacoma.
Federal Way’s affordability, diverse community, and major infrastructure investments continue to drive demand for housing, retail, and commercial development. The incoming light rail station is expected to accelerate growth and transform the surrounding area into a stronger regional hub.
The property is supported by a stable employment base, with nearby major employers including:
• Amazon
• DaVita Healthcare Partners
• Virginia Mason Medical Center
• St. Francis Hospital
• Federal Way Public Schools
• World Vision International
This is a rare opportunity to secure a centrally located, transit-adjacent parcel with flexible zoning, strong fundamentals, and meaningful long-term upside, an ideal acquisition for developers and investors looking to participate in Federal Way’s next stage of growth.