2311-2337 SW 336th St - Freestanding FOR SALE


Federal Way, WA 98023
$5,500,000 USD
503-200-2031
2311-2337 SW 336th St, Federal Way, WA for Sale
$5,500,000 USD
Freestanding - FOR SALE
1/9
null | 6.78% Cap Rate

2311-2337 SW 336th St
Federal Way, WA 98023


OVERVIEW

MARCUS & MILLICHAP’S THE GARSKE GROUP HAS BEEN EXCLUSIVELY CHOSEN TO MARKET TWIN LAKES SHOPPING CENTER, a strategically positioned at 2311 SW 336th Street in Federal Way, Washington, represents a wellestablished neighborhood retail destination spanning 19,361 square feet across a 2.18-acre lot with 10 individual suites. Built in 1979, this shopping center has maintained its relevance through ongoing infrastructure improvements, most notably the replacement of its main sewer line in 2023, ensuring modern utility standards for current and future tenants. The property benefits from exceptional traffic exposure, with SW 336th Street generating over 22,000 vehicles per day and the adjacent 21st Avenue SW carrying more than 16,000 vehicles per day, providing substantial visibility and accessibility for retail operations. The shopping center operates as a shadow-anchored retail hub, benefiting from the proximity of a Rite Aid pharmacy that draws consistent foot traffic to the immediate area. Its strategic location places it among several strong national retailers including Taco Bell, CVS, Subway, and KFC, creating a synergistic retail environment that attracts diverse customer demographics. The property’s value-add potential is further enhanced by its position within a densely populated residential corridor, surrounded by multiple apartment complexes with up to 518 units, including developments like Stonehaven at West Campus Apartments. With ten established tenants, including recognizable brands like Domino’s Pizza, the shopping center maintains full occupancy while offering opportunities for rent optimization and tenant mix enhancement given its prime location and substantial daily traffic counts.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$284 USD /SF

CAP RATE

6.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Twin Lake Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

210

LAND DETAILS

LAND ACRES

2.18 AC

LAND SF

94,961 SF

ZONING

RM2400, Federal Way

APN/PARCEL ID

873217-0040

ASK ABOUT THIS PROPERTY

Eric GarskeMarcus & MillichapMore Info
503-200-2031

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Eric GarskeMarcus & MillichapMore Info
503-200-2031

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