Mixed-Use Investment Property in
10240 Bridgeport Way SW Lakewood, WA 98499
10240 Bridgeport Way SW, Lakewood, WA, 98499
$9,500,000
Pending
For Sale
$9,500,000
Pending
Well-maintained mixed-use property with residential and retail units.
Property Size48,214 SF
Days on Market181
Property Features for 10240 Bridgeport Way SW
General Information
- Standard status
- Pending
- Size
- 48,214 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2005
Listing Agency
WESTLAKE ASSOCIATES, INC.
Listed by
REID JONES
Source
Corcoran
Added: Jan 20 Checked: Jul 20 at 3:33 am
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 WESTLAKE ASSOCIATES, INC.
Investment Insights
Based on property information with market context.
Town Centre Village is a well-maintained mixed-use investment property. Constructed in 2005 and expanded in 2017, the property includes a main elevator-served building and a separate townhome-style fourplex. It features 37 residential units with one- to three-bedroom floor plans, along with 13 street-level retail suites. The residential units have been upgraded with contemporary flooring, cabinetry, and finishes. Every unit is equipped with a full in-unit washer and dryer. The retail tenants operate under established NNN leases and benefit from fully served HVAC systems. On-site amenities include secured 24-hour resident parking and a total of 87 parking spaces. The property contains 48214 square feet.
Key Highlights
- Diversified Income Streams: Combination of 37 residential units and 13 retail suites.
- Modern Upgrades: Residential units feature contemporary flooring, cabinetry, and finishes.
- Spacious Units: Large one- to three‑bedroom floor plans.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.15M | $23.76 |
| − Vacancy | −$84.8k | −$1.76 |
| EGI | $1.06M | $22.00 |
| − OpEx | −$477.4k | −$9.90 |
| NOI | $583.4k | $12.10 |
48,214 SF · lease $23.76/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.33M
$7.29M – $9.72M
NOI $583,436 @ 7.0% cap · market cap 6.14%
Second Best
Mixed Use
$8.18M
$7.16M – $9.55M
NOI $572,782 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$13.02M
$11.39M – $15.19M
NOI $911,545 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fresh Rolls Lakewood
Restaurant
Thi Beauty Collective
Hair Salon
Fun Times Daycare ...
Daycare Center
Coin Cloud Bitcoin ...
Currency Exchange Service
Mattress Today Kent- ...
Furniture & Home Goods
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with residential and retail units.
Where is this mixed-use property located?
The property is located at 10240 Bridgeport Way SW Lakewood, WA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Diversified Income Streams: Combination of 37 residential units and 13 retail suites.; Modern Upgrades: Residential units feature contemporary flooring, cabinetry, and finishes.; Spacious Units: Large one- to three‑bedroom floor plans.
