Four-Unit Corner Retail
For Sale
Contact for pricing
1022 S J St., Tacoma, WA 98405
Four retail units include existing tenancy alongside space available for lease.
Property Size3,150 SF
Price / SF$349.21
Days on Market10
Property Features for 1022 S J St.
General Information
Standard status
Active
Size
3,150 SF
Property subtype
RETAIL
Additional Details
Corner Location
Yes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Pacific Commercial Brokers
(253) 507-5442
Listed By:
Andrew Babcock · License #140994
(425) 531-4109
Source:
Moodyscre
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 4 at 10:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pacific Commercial Brokers
Investment Insights
Based on property information with market context.
This 3,150-square-foot retail property is divided into four units, with tenants in place and space available for leasing. Its corner position is at South 11th Street and South J Street in Tacoma’s Hilltop neighborhood.
The property is near Downtown Tacoma and major medical centers. The T Line extension provides a transit connection among Hilltop, Downtown Tacoma, and the Tacoma Dome transit hub.
The property is near Downtown Tacoma and major medical centers. The T Line extension provides a transit connection among Hilltop, Downtown Tacoma, and the Tacoma Dome transit hub.
Key Highlights
- Four retail units in a 3,150‑square‑foot property
- Corner location at South 11th Street and South J Street
- Existing tenants and space available for leasing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,904
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,080
$758.1K
Cap Rate 7%
$541,486
$541.5K
Cap Rate 9%
$421,156
$421.2K
Market Conditions
NOI Build-Up for 3,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.7K $18.00/SF
− Vacancy
−$2.6K −$0.81/SF
EGI
$54.1K $17.19/SF
− OpEx
−$16.2K −$5.16/SF
NOI
$37.9K $12.03/SF
Area
Tacoma, WA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,080
Cap Rate 7%
$541,486
Cap Rate 9%
$421,156
Alternative Uses
Best Use
Retail
$541.5K
$473.8K – $631.7K
NOI $37,904 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$968.2K
$847.2K – $1.13M
NOI $67,775 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,107
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 41%
Shops & Services 5%
McDonald's
Dining
28,302 visits/mo
0.3 miles
Safeway
Groceries
21,361 visits/mo
0.3 miles
U-Haul
Shops & Services
1,303 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
1,235 visits/mo
0.4 miles
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Four retail units include existing tenancy alongside space available for lease.
Where is this retail space located?
The property is located at 1022 S J St. Tacoma, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four retail units in a 3,150‑square‑foot property; Corner location at South 11th Street and South J Street; Existing tenants and space available for leasing
