22205 Pacific Hwy S, Des Moines, WA
Multi-Use for Sale - $1,295,000 - 9,603 Sq. Ft. on 1.08 acres
Property Info
| CIMLS# | 121177 |
| Location 22205 Pacific Hwy S Des Moines WA 98198 | |
| Updated | February 25th, 2010 |
| Type | Multi-Use |
| Price | $1,295,000 |
| Building | 9,603 Sq. Ft. |
| Land | 1.08 acres |
Property Description
Existing 9,600 sq ft building at the corner of a corner lot. Zoned for five stories mixed use. SEPA completed, ready for development or use existing building. Corner lot on busy Pacific Highway. Puget Sound and mountain views. Several major developments under construction within a mile in both directions. 40,000/day car count. Upper stories in any deveopment will have unobstructed views of Puget Sound and the Olympic Mountains. Five minutes from Seatac Airport.
Site is perfectly suited for mixed-use development. Access from two streets, 325 feet of frontage on Pacific Highway and is part of the Pacific Ridge Zoning - designed for expidited development. Pacific Ridge is a 90 acre area between I-5 and Pacific Highway. It offers some of the most compelling views in Puget Sound and is adjacent to three major highway systems. Zoning here allows for buildings up to 5 stories and it has been designated a SEPA planned action area for more expeditious review of plans and permits.
Financials
Projected on existing building
Gross $114,888
Expenses $(15,030)
Vacancy (5%) (5,744)
TOTAL NOI $ 94,114