- For Sale $3,500,000
- Property Type Retail - Strip
- Property Size 52,139 SF
- Units 10
- Lot Size 3.55 Acre
- Date Updated Jun 25, 2026
Description
The center is situated in the heart of the Southcenter retail corridor, one of the Pacific Northwest’s most trafficked retail trade areas, directly adjacent to Westfield Southcenter Mall and surrounded by a dense concentration of national and regional retailers, hotels, and employment centers.NAI Puget Sound Properties is pleased to exclusively offer for sale the leasehold interest in the Southcenter Parkway Shopping Center, comprising a 52,139 SF multi-tenant retail center located in the highly desirable Southcenter area of Tukwila, WA. This offering represents a unique opportunity to acquire the improvements for an extremely low cost basis and high stabilized yield. The buildings are subject to two ground leases (one for each parcel) with 19 and 17 years of term remaining, respectively. The ownership of the improvements revert to the landowner at expiration.
Highlights
- 52,139 SF of Retail Space on a 3.55 AC Site
- Compelling 20%+ IRR Potential Through Ground Lease Expiration
- Irreplaceable Location - Adjacent to Southcenter Mall
- Leasehold Sale – Improvements Only (Land Not Included)
- Low Basis Entry Point - $67 Per Foot on the Building
- Price: $3,500,000
- Prime Southcenter Retail Asset
- Significant Value-Add Upside – 23%+ Stabilized Cap Rate
- Subject to Ground Leases Expiring in 17 & 19 Years
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Contacts
Kyle Sterling
NAI Puget Sound Properties
Location
Contact Listing Broker
Kyle Sterling
NAI Puget Sound Properties
