116 Andover Park E - Office FOR SALE


Tukwila, WA 98188- Tukwila Urban Center
$7,000,000 USD
206-300-3988
116 Andover Park E, Tukwila, WA for Sale
$7,000,000 USD
Office - FOR SALE
1/12
null | Request Cap Rate

116 Andover Park E
Tukwila, WA 98188
Tukwila Urban Center


HIGHLIGHTS

  • Fully leased two-tenant property with established businesses, ensuring consistent rental income.
  • Located just minutes from major interstates I-5 and I-405, enabling excellent regional access.
  • Immediate proximity to Westfield Southcenter Mall, offering abundant amenities for employees and visitors.
  • Only 12 minutes from Seattle-Tacoma International Airport, enhancing business travel and distribution potential.
  • Situated in a transit-oriented development zone, aligning with future growth initiatives and value appreciation.

OVERVIEW

Newmark is pleased to present the opportunity to acquire 116 Andover Park E, a 23,542 SF, two-story multi-tenant building situated on a 1.23-acre two-parcel assemblage in the heart of Tukwila’s Southcenter submarket. The property is 100% leased to InnovAsian Cuisine, a privately held food manufacturer headquartered at the property, and FedEx Office, the retail arm of FedEx Corporation (NYSE: FDX). The site is zoned TUC-TOD, offering meaningful long-term redevelopment optionality under one of the most flexible zoning designations in South King County. 116 Andover Park E offers investors an opportunity to acquire a 23,542-square-foot two-story multi-tenant building in the vibrant Southcenter submarket of Tukwila. The property is fully leased to two creditworthy tenants: InnovAsian Cuisine, a prominent food manufacturer headquartered on-site, and FedEx Office, the retail subsidiary of FedEx Corporation (NYSE: FDX). This long-term occupancy provides stable cash flow and minimizes downtime risk for buyers seeking income reliability. Strategically positioned minutes from I-5 and I-405, the property ensures exceptional accessibility throughout the Seattle-Tacoma corridor. Tenants and visitors benefit from immediate proximity to Southcenter Mall, a premier regional shopping destination featuring extensive dining, retail, and entertainment options. The property’s location also provides swift connectivity to Seattle-Tacoma International Airport, only 12 minutes away, appealing to businesses requiring logistics and travel convenience. Tukwila’s TUC-TOD zoning encourages transit-oriented development, supporting long-term appreciation in a market experiencing consistent population and employment growth. Positioned within a robust economic hub, the asset combines secure tenancy with lasting locational strength, making it an attractive acquisition for buyers focused on stability and future upside.

FOR SALE DETAILS

PRICE

$7,000,000 USD

PRICE/SF

$297 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

116 Andover Park E

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,648 SF

ZONING

TUC, Tukwila

APN/PARCEL ID

022300-0050,022300-0060

ASK ABOUT THIS PROPERTY

Taylor HoffNewmarkMore Info
206-300-3988

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Taylor HoffNewmarkMore Info
206-300-3988

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.