Map of Property

CVS Zero Cash Flow

For Sale

33520 21st Ave SW, Federal Way, WA 98023

This Federal Way property for sale is located at 33520 21st Ave SW. The general use of CVS Zero Cash Flow is retail and it incorporates 12,900 square feet of class B retail space. The current listed sale price for CVS Zero Cash Flow is $8,893,297. CVS Zero Cash Flow is situated on a lot that is 1.19 acre in size.

Contacts

broker
John Andreini

CP Partners

Property Details

  • Property Type Retail - Freestanding
  • Property Size 12,900 SF
  • Units 1
  • Lot Size 1.19 Acre
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 2018
  • Date Updated Jun 23, 2025
A CVS Zero Cash Flow asset with 19+ years remaining in the base term of an absolute net lease. Subject property is located in Federal Way – an affluent Seattle suburb boasting average household incomes of $118,000 within a 1-mile radius.
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Highlights

  • 19+ years remaining on absolute net lease
  • 2018 build-to-suit construction at signalized hard corner
  • 2024 revenue totaled $372.8 billion, a 4.2% increase over the previous year
  • Affluent residential submarket – $118,000 average household incomes within a 1-mile radius of the subject property
  • Corporate guaranty from CVS Health Corporation (see below)
  • Heavily trafficked intersection – 47,000+ VPD
  • Zero cash flow lease structure (see Page 5)

Getting around

  • 78/100

    Walk Score ®

  • 32/100

    Transit Score ®

  • 47/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Federal Way, WA
  • Zip Code 98023
  • Market Seattle

Points of Interest

  • Capital Aeroporter Airport Shuttle

    4.11 miles

  • S 4th

    4.76 miles

  • Old City Hall

    4.82 miles

  • Stadium District

    4.90 miles

  • Theater District

    5.01 miles

  • Convention Center/South 15th Street

    5.13 miles

  • Convention Center

    5.13 miles

  • Tacoma General

    5.23 miles

  • Union Station/South 19th Street

    5.30 miles

  • Union Station

    5.30 miles

  • Fred Meyer

    0.16 miles

  • Blink

    1.03 miles

  • Chevron

    1.09 miles

  • QFC Gas

    1.13 miles

  • 76

    1.27 miles

  • Dash Point Chevron

    1.48 miles

  • Dash Point ARCO

    1.49 miles

  • CFN

    2.16 miles

  • 7-Eleven

    2.26 miles

  • Tesla Supercharger

    2.29 miles

  • Twin Lakes Park & Ride

    0.47 miles

  • BPA Trail Access

    1.30 miles

  • Trailhead Parking: Dash Point State Park

    1.67 miles

  • Sunrise United Methodist Church

    1.79 miles

  • Journey Church Park & Ride

    1.86 miles

  • South Federal Way Park & Ride

    1.96 miles

  • St. Luke's Lutheran Church Park & Ride

    2.09 miles

  • Truck Parking

    2.48 miles

  • Federal Way Transit Center Parking

    2.83 miles

  • Federal Way/S 320th St Park & Ride

    2.86 miles

  • Puerto Vallarta

    0.03 miles

  • Taco Bell / Pizza Hut

    0.06 miles

  • Han’s Burger

    0.08 miles

  • Hak San Teriyaki

    0.08 miles

  • Imperial Palace

    0.10 miles

  • Subway

    0.10 miles

  • Yamamoto Teriyaki

    0.10 miles

  • NY Vinney’s Pizza

    0.11 miles

  • Papa Murphy's

    0.11 miles

  • KFC

    0.14 miles

  • Safeway

    0.13 miles

  • Fred Meyer

    0.23 miles

  • QFC

    1.07 miles

  • Hong Kong Market

    1.19 miles

  • WinCo Foods

    1.29 miles

  • Grocery Outlet

    2.18 miles

  • Euro Food & Deli

    2.21 miles

  • Ross

    2.27 miles

  • Amazon Fresh

    2.43 miles

  • Walmart Supercenter

    2.44 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
John Andreini

CP Partners

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