Property Details

22659 Pacific Hwy S

Des Moines, WA 98198

$2,395,000

Available

CBA# 713353 courtesy of CBA Listing firm: Westlake Associates, Inc.

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I’d like more information about 22659 Pacific Hwy S, Des Moines, MLS# 713353

Office / Retail

Property Type

11,776

Bldg Sq Ft

6.00%

Cap Rate

1998

Year Built

Property Overview

This rare infill asset consists of a 1998 construction 11,514 sq ft highway fronting office building together with a single-family residence and duplex on the same parcel, delivering diversified income streams in a high-visibility corridor.The property also sits on a large 29,959 SF lot zoned PR-C (Pacific Ridge Commercial) offering unique redevelopment opportunities. The most logical being to develop a 60-unit apartment building where the SFH and Duplex currently sit and keep the existing office building for extended income (Buyer to Verify). The stabilized current operations reflect a current cap rate of 6.00% and a proforma cap rate of 6.34%.