This presents a rare opportunity to acquire a strategic land play in the heart of Federal Way, Washington. The property is within walking distance of the new Federal Way Link Light Rail Station, opening in late 2025, and offers direct access to Interstate 5, creating exceptional regional connectivity. With zoning that allows development of up to 200 feet, this site is well suited for a mixed-use project incorporating residential, retail, and office uses. This is a prime transit-oriented redevelopment site with minimal near-term income and significant long-term potential. The property is leased to Black Angus Steakhouse through November 30, 2026, with one five-year renewal option. The current lease provides modest holding income, allowing time for entitlement and planning as the $3.1 billi