Ground-Floor Retail Space with
For Lease
Contact for pricing
1023 Martin Luther King Jr Way, Tacoma, WA 98405
Ground-floor retail space features installed shaft and grease trap for restaurant uses and 21-foot ceiling heights.
Property Size12,390 SF
Days on Market412
Property Features for 1023 Martin Luther King Jr Way
General Information
Standard status
Active
Size
12,390 SF
Property subtype
RETAIL
Additional Details
Clear Height
21 ft
Grease Trap
Yes
Amenities
shaft
on-site parking
Listing Agency:
First Western Properties - Tacoma, Inc.
(253) 471-5508
Listed By:
Jameson Sullivan
(253) 471-5508
Source:
Moodyscre
Added: Jun 16, 2025
Changed: Jul 25
Last Checked: Jul 31 at 3:21AM
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 First Western Properties - Tacoma, Inc.
Investment Insights
Based on property information with market context.
This ground-floor retail space is part of an apartment development with 289 units, and the apartment project is close to completely leased. The space includes a shaft and a grease trap installed for restaurant uses, along with 21-foot ceiling heights. On-site parking is available for the retail.
The property is located at 1023 Martin Luther King Jr Way in Tacoma, WA 98405, providing direct street-level access as part of a mixed-use configuration.
Designed for active food service operations, the interior improvements support restaurant service requirements while maintaining a high-ceiling retail environment.
The property is located at 1023 Martin Luther King Jr Way in Tacoma, WA 98405, providing direct street-level access as part of a mixed-use configuration.
Designed for active food service operations, the interior improvements support restaurant service requirements while maintaining a high-ceiling retail environment.
Key Highlights
- Ground‑floor retail space under a 289‑unit apartment development (apartment project reported close to completely leased)
- Shaft and grease trap installed for restaurant uses
- 21‑foot ceiling heights
Property Analytics
Current Use
Lease Details
21 ft
Clear height
Yes
Grease trap
NNN (Triple Net)
Lease Type
$3.60 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
4,943
Businesses Nearby
61k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 35%
Shops & Services 18%
McDonald's
Dining
28,302 visits/mo
0.4 miles
Safeway
Groceries
21,361 visits/mo
0.2 miles
Shell
Shops & Services
8,301 visits/mo
0.5 miles
U-Haul
Shops & Services
1,303 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
1,235 visits/mo
0.5 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor retail space features installed shaft and grease trap for restaurant uses and 21-foot ceiling heights.
Where is this storefront property located?
The property is located at 1023 Martin Luther King Jr Way Tacoma, WA.
What is the lease rate?
The lease rate is $24 SF/Yr.
What are key features of this property?
This property features: Ground‑floor retail space under a 289‑unit apartment development (apartment project reported close to completely leased); Shaft and grease trap installed for restaurant uses; 21‑foot ceiling heights
