Map of Property

CVS Zero Cash Flow

33520 21st Ave SW, Federal Way, WA 98023

  • For Sale $8,893,297
  • Property Type Retail - Freestanding
  • Property Size 12,900 SF
  • Units 1
  • Lot Size 1.19 Acre
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 2018
  • Date Updated Jun 23, 2025
A CVS Zero Cash Flow asset with 19+ years remaining in the base term of an absolute net lease. Subject property is located in Federal Way – an affluent Seattle suburb boasting average household incomes of $118,000 within a 1-mile radius.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • 19+ years remaining on absolute net lease
  • 2018 build-to-suit construction at signalized hard corner
  • 2024 revenue totaled $372.8 billion, a 4.2% increase over the previous year
  • Affluent residential submarket – $118,000 average household incomes within a 1-mile radius of the subject property
  • Corporate guaranty from CVS Health Corporation (see below)
  • Heavily trafficked intersection – 47,000+ VPD
  • Zero cash flow lease structure (see Page 5)

Contacts

broker
John Andreini

CP Partners

Location

Getting Around

  • Walk Score ®

    78/100 Very Walkable

  • Transit Score ®

    32/100 Some Transit

  • Bike Score ®

    47/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Federal Way, WA
  • Zip Code 98023
  • Market Seattle

Points of Interest

  • Capital Aeroporter Airport Shuttle

    4.11 miles

  • S 4th

    4.76 miles

  • Old City Hall

    4.82 miles

  • Stadium District

    4.90 miles

  • Theater District

    5.01 miles

  • Convention Center/South 15th Street

    5.13 miles

  • Convention Center

    5.13 miles

  • Tacoma General

    5.23 miles

  • Union Station/South 19th Street

    5.30 miles

  • Union Station

    5.30 miles

  • Fred Meyer

    0.16 miles

  • Blink

    1.03 miles

  • Chevron

    1.09 miles

  • QFC Gas

    1.13 miles

  • 76

    1.27 miles

  • Dash Point Chevron

    1.48 miles

  • Dash Point ARCO

    1.49 miles

  • CFN

    2.16 miles

  • 7-Eleven

    2.26 miles

  • Tesla Supercharger

    2.29 miles

  • Twin Lakes Park & Ride

    0.47 miles

  • BPA Trail Access

    1.30 miles

  • Trailhead Parking: Dash Point State Park

    1.67 miles

  • Sunrise United Methodist Church

    1.79 miles

  • Journey Church Park & Ride

    1.86 miles

  • South Federal Way Park & Ride

    1.96 miles

  • St. Luke's Lutheran Church Park & Ride

    2.09 miles

  • Truck Parking

    2.48 miles

  • Federal Way Transit Center Parking

    2.83 miles

  • Federal Way/S 320th St Park & Ride

    2.86 miles

  • Puerto Vallarta

    0.03 miles

  • Taco Bell / Pizza Hut

    0.06 miles

  • Han’s Burger

    0.08 miles

  • Hak San Teriyaki

    0.08 miles

  • Imperial Palace

    0.10 miles

  • Subway

    0.10 miles

  • Yamamoto Teriyaki

    0.10 miles

  • NY Vinney’s Pizza

    0.11 miles

  • Papa Murphy's

    0.11 miles

  • KFC

    0.14 miles

  • Safeway

    0.13 miles

  • Fred Meyer

    0.23 miles

  • QFC

    1.07 miles

  • Hong Kong Market

    1.19 miles

  • WinCo Foods

    1.29 miles

  • Grocery Outlet

    2.18 miles

  • Euro Food & Deli

    2.21 miles

  • Ross

    2.27 miles

  • Amazon Fresh

    2.43 miles

  • Walmart Supercenter

    2.44 miles

Frequently Asked Questions

How much does CVS Zero Cash Flow cost?

The space currently listed for sale at CVS Zero Cash Flow asks for $8,893,297.

What is the total square footage of CVS Zero Cash Flow?

CVS Zero Cash Flow totals 12,900 square feet.

When was this property built?

CVS Zero Cash Flow was built in 2018.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker
John Andreini

CP Partners

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.