13450 1st Ave S - Freestanding FOR SALE


Burien, WA 98168
$2,000,000 USD
425-233-9522
13450 1st Ave S, Burien, WA for Sale
$2,000,000 USD
Freestanding - FOR SALE
1/5
null | 3.15% Cap Rate

NEW


13450 1st Ave S
Burien, WA 98168


HIGHLIGHTS

  • Owner/User Opportunity
  • Option to Retain In-Place Income from Restaurant | ~$5,000/Month | Long-Term Billboard Lease with Significant Upside
  • High-Visibility, Signalized Hard-Corner Location (22,000+ VPD)
  • Flexible Zoning (MU-2) with Redevelopment Potential
  • Located Nearby Top 2% Ranked, High-Traffic Fred Meyer
  • Constrained Retail Supply | 1.3% Market Vacancy

OVERVIEW

Brown Retail Group of Marcus & Millichap has been selected to exclusively market for sale a former 7-Eleven Owner/User opportunity located in Burien, WA (Seattle MSA). The property is a high-visibility, signalized hard corner at 1st Ave S & S 136th St (22,000+ VPD), with multiple points of ingress/egress and strong access to both Hwy 509 (62,700+ VPD) and Hwy 518 (65,000+ VPD). The property features a 4,250 SF freestanding retail building currently master leased to 7-Eleven, comprised of a vacant 2,500 SF former c-store and a 1,750 SF Thai restaurant. Upon termination of the 7-Eleven master lease prior to closing, the property will be delivered vacant, providing a new owner with full control to operate the former c-store while leasing the adjacent suite. The property generates approximately $5,000 per month from Thai-U-Up Thai Restaurant, which operates under a sublease with 7-Eleven. Upon lease termination, a new owner can establish a direct lease and retain this income stream to help offset occupancy costs. In addition, the property benefits from a long-term billboard lease in place since 1999, currently paying $3,000 annually plus percentage rent, offering a clear value-add opportunity through renegotiation at market rates. Located within the SeaTac/Burien retail submarket (~1.3% vacancy), the property benefits from limited supply and strong demand for service- and convenience-oriented uses. The surrounding area includes a dense population of approximately 248,000 residents within a 5-mile radius (average household income $125K+), along with close proximity to Kennedy Catholic High School (850+ students) and a top-performing Fred Meyer (top 2% nationally; 1.8M+ annual visits). The property is also zoned MU-2 (Mixed-Use High), allowing for a wide range of uses and building heights up to 85 feet, providing long-term redevelopment flexibility. Additionally, Washington State has no income tax.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$471 USD /SF

CAP RATE

3.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Former 7-Eleven | Owner/User Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,968 SF

ZONING

MU2 (Mixed Use)

APN/PARCEL ID

144640-0365

ASK ABOUT THIS PROPERTY

Trevor LaneMarcus & MillichapMore Info
425-233-9522

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

Trevor LaneMarcus & MillichapMore Info
425-233-9522

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