22659 Pacific Hwy S
Des Moines WA 98198
Pacific Professional Building
22659 Pacific Hwy S Des Moines WA 98198
Listing #: 713353 | Status: Available | Last Modified: 5/27/2026 |
For Sale
- Phone:(206) 300-8909
- Email:david@westlakeassociates.com
- Office Name:Westlake Associates, Inc.
- Office Phone:(206) 505-9400
- Office Website:
- Agent Phone:(206) 321-3226
- Agent Email:chad@westlakeassociates.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 2,395,000.0
- $/SF$ 203.6
- $/Unit$ 2,395,000.0
- Listing StatusAvailable
- Days on Market9
- Asset ClassOffice, Multi-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income230,880
- Vacancy Factor %5.00%
- Operating Expenses75,663
- Net Operating Income143,673
- CAP Rate 6.00 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 6.00 %
- Building StatusExisting
- # of Buildings3
- # of Floors3
- # of Units0
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF11776
- Net Rentable Area11766
- Total Office SF9630
- Largest Contiguous SF
- Lot SF30056
- Acres0.69
- Property TypeOffice
- Office TypeOther
- InvestmentYes
- Building ClassB
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaDes Moines
- Tax ID #2500600050
- Additional Parcels
- ZoningPR-C
- Year Built1998
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Des Moines Mixed-Use
This rare infill asset consists of a 1998 construction 11,514 sq ft highway fronting office building together with a single-family residence and duplex on the same parcel, delivering diversified income streams in a high-visibility corridor. The property also sits on a large 29,959 SF lot zoned PR-C (Pacific Ridge Commercial) offering unique redevelopment opportunities. The most logical being to develop a 60-unit apartment building where the SFH and Duplex currently sit and keep the existing office building for extended income (Buyer to Verify). The stabilized current operations reflect a current cap rate of 6.00% and a proforma cap rate of 6.34%.
Includes a total of three buildings - commercial and residential.
Medical/Dental, Mixed-Use
