$1,500,000
Est. $7,561/mo35415 Sw 21st Ave, Federal Way, WA 98023
• Listed 2026-01-29•56 days on market
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Based on information submitted to the MLS GRID as of April 28, 2026 at 06:44pm (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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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.
Listed by Alexandar Hong • COMPASS
Listing updated: April 28, 2026 at 06:44pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2473331
Open houses
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35415 Sw 21st Ave, Federal Way, WA 98023
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More homes in this area that match your range.
Federal Way is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 7 days.
$567,000 Sold
3 months ago
3 bd•2.5 ba•~1,790 sq ft•Single Family
1223 Sw 353rd Street, Federal Way, WA 98023
1%
Under list
—
Days on market
0.5 mi
Distance
$575,000 Sold
5 months ago
3 bd•1 ba•~1,490 sq ft•Single Family
2633 Sw 351st Place, Federal Way, WA 98023
0%
Over list
—
Days on market
0.3 mi
Distance
$575,000 Sold
5 months ago
3 bd•1 ba•~1,490 sq ft•Single Family
2633 Sw 351st Place, Tacoma, WA 98023
0%
Over list
—
Days on market
0.3 mi
Distance
$588,500 Sold
5 months ago
3 bd•2 ba•~1,444 sq ft•Single Family
35616 15th Ave Sw, Federal Way, WA 98023
1%
Over list
—
Days on market
0.4 mi
Distance
$726,000 Sold
5 months ago
4 bd•2.5 ba•~2,870 sq ft•Single Family
35031 8th Place Sw, Federal Way, WA 98023
2%
Over list
—
Days on market
0.7 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
