Park Avenue Commons (Fully Entitled)

648 125th St S, Parkland, WA 98447

Executive Summary

  • Price: $4,750,000 (32,094 / Per Unit)
  • Address: 648 125th St S, Parkland WA 98447
  • Proposed Units: 148 (Fully Entitled)
  • Proposed Parking: 181 stalls
  • Total Land Area: ± 1.93 acres / ± 84,027 square feet
  • Parcel: 3130000242
  • Zoning: TCTR - Town Center
  • State Incentives: QCT Zone

First Western Properties is pleased to exclusively present Park Ave Commons, an urban infill site conveniently located adjacent to Pacific Lutheran University, in South Pierce County. Located in a Qualified Census Tract, the property is very centralized and offers residents the opportunity to enjoy a multitude of shops and restaurants nearby. The site is conveniently located just a block away from the newly announced Multicare out patient medical center and is situated right off Pacific Avenue with easy access to 512 and I-5. Park Avenue Commons offers the opportunity for investors to purchase a large scale entitled site in a market that has not seen any project of this scale in almost a decade. According to the Washington State Department of Commerce estimates, Pierce County needs to add over 111K new units over the next 15-20 years to support demand.

Key facts

1.93 acres adjacent to Pacific Lutheran University

One block away from 15-acre future Multicare medical campus

Fully Entitled for 148-Units | 1 Building

Permits submitted for and expected to be received in Mid-2024
Unit Mix: 66 – Studios | 74 – 1 Beds | 8 – 2 Beds

Easy access to I-5, HWY 512 and Parkland’s Transit Center

Located in a QCT Zone (Qualified Census Tract)

Aerial Maps

Regional Aerial


Pierce County population has increased by 16.41% to 958,900 over the last decade.

The population of nearby Joint Base Lewis McChord is approximately 110,000: 50,000 active duty, 50,000 family members and 15,000 civilian contract employees.

71% of active duty and 87% of JBLM workforce live off-base in nearby communities.

Local Map

PLU was recently ranked 11th in the U.S. News & Report's annual ranking of the best regional universities in the West.

Park Ave Commons has a walk score of 71 (Very Walkable).

Park Ave Commons is less than a 5 minute walk to multiple restaurants and retail shops.

Site Plan

map

Location Map

Team

Elijah Piper

Ned Whalen

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