1044 South 348th Street, Federal Way, WA 98003 For Sale

Explore the unparalleled opportunities offered by this prime property zoned OP (Office Professional). With a generous 2.48-acre site, this location boasts ease of access from I-5 and is conveniently positioned between the Port of Tacoma and Seattle. Situated just minutes from SeaTac International Airport, the property offers a strategic advantage for investors. Essential utilities are readily available at the street, and comprehensive survey reports and studies are on hand. Additionally, the permit ready site is secured for the construction of an 18,000 square foot Medical Office Building, further enhancing the value of this exceptional investment opportunity in the Federal Way area.

The Puget Sound Region is one of the fastest-growing markets in the U.S., driven by industry giants such as Amazon, Microsoft, Costco, Starbucks, Boeing, Nordstrom, Expedia, UW Medicine, Nintendo, and T-Mobile. Their presence has drawn major players like Google, Apple, Facebook, Salesforce, and Uber, spurring rapid regional growth and development.

Located just 13 miles from Tacoma and 23 miles from Seattle, Federal Way is the tenth-largest city in Washington and fifth in King County. Once a logging town, it has evolved into an affluent community of over 99,000 residents. Its strategic location offers quick access to Seattle, Bellevue, Tacoma, and SeaTac International Airport, making it an attractive hub for both residents and businesses. Key employers include St. Francis Hospital, Federal Way Public Schools, World Vision, and Wild Waves Theme Park.

Beyond commerce, Federal Way is known for its natural attractions, including the Pacific Bonsai Museum and Rhododendron Species Botanical Garden. The city will also benefit from Sound Transit’s Link light rail expansion, with a station under construction at the Federal Way Downtown Transit Center near The Commons. Scheduled to open in 2026, this extension will enhance regional connectivity and is expected to boost commercial activity and demand throughout the area.