Emma Lazo

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Listing provided courtesy of COMPASSNWMLSas Distributed by MLSGrid- MLS# NWM2473331MLS Provider

35415 SW 21st AveFederal Way, WA 98023

Commercial
$1,500,000 Active

35415 SW 21st Ave Overview

Visits:
4

Exceptional value-add development opportunity in a high-demand Federal Way corridor. Spanning 3.23 acres and zoned BN (Business Neighborhood), this site supports a wide range of revenue-generating uses. Tons of feasibility done for a strip mall, restaurant concepts, coffee shop, and office buildings—significantly reducing timeline and entitlement risk. Included in the sale are parcels located at 35415, 35409, 35104, and 35305 21st Avenue SW, Federal Way, WA 98023. Ideal for investors and developers seeking a high-yield, long-term income-producing asset. Seller is open to creative financing structures, offering additional flexibility to maximize returns.

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35415 SW 21st Ave Facts & Features

  • Type Commercial

Details

General

Association/HOA

  • Association Fee: $0.00

Location/Region

  • Country: US
  • County Or Parish: King
  • MLS Area Major: 110 - Dash Point/Federal Way
  • Subdivision Name: Federal Way

General Information

  • Listing Terms: Cash, Conventional, Owner Will Carry
  • Parcel Number: 2521039037
  • Property Sub Type: Commercial Industrial
  • Property Type: Commercial Sale
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 0
  • Building Area Units: Square Feet
  • Calculated Square Footage: 0
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Heating: No
  • Living Area: 0
  • Main Level Bathrooms: 0

Exterior

Parking Information

  • Open Parking: No
  • Parking Total: 0

Lot Information

  • Irrigation Water Rights: No
  • Lot Size Acres: 0
  • Lot Size Dimensions: 140706
  • Lot Size Square Feet: 0
  • Lot Size Units: Square Feet
  • Topography: Level
  • Elevation Units: Feet
  • Water Source: Public

Building Exterior/Construction

  • Structure Type: Industrial

General Information

  • Carport: No
  • Number Of Units Total: 0
  • Sewer: Sewer Connected

35415 SW 21st Ave Neighborhood

Community

98023 (Federal Way) Demographics

37
Median Age
4,278
Population Density (per sq. mile)
42%
College Educated
$82,566
Estimated Median Income
10,989
Estimated Total Home Owners
6,477
Estimated Total Renters
63% / 37%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

35415 SW 21st Ave Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

35415 SW 21st Ave Market Data

Based on the last 30 days in this zip code

$729,267
Average List Price
$332
Average Price per Square Foot
37
Properties Sold
61
Average Days on Market
185
Properties for Sale
Calculations provided by Reliance Network

35415 SW 21st Ave History

Date Event Value Agent
4/28/2026Source: NWMLS Status Change
Active
2/12/2026Source: NWMLS Status Change
Pending Feasibility
1/29/2026Source: NWMLS Added to Database
January 29, 2026