Mixed-Use Residential and Retail
For Sale
Contact for pricing
Pending
10240 Bridgeport Way SW, Lakewood, WA 98499
Town Centre Village combines 37 residential units with 13 street-level retail suites under established NNN leases.
Property Size48,214 SF
Days on Market197
Property Features for 10240 Bridgeport Way SW
General Information
Standard status
Pending
Size
48,214 SF
Total Parking Spaces
87
Property subtype
MULTIFAMILY
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
37
Amenities
secured 24-hour resident parking
on-site daycare
salon
café
in-unit washer and dryer
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Westlake Associates, Inc.
(206) 250-9655
Listed By:
Reid Jones · License #87080
(206) 250-9655
Source:
Moodyscre
Added: Jan 20
Changed: Jul 27
Last Checked: Jul 27 at 6:56AM
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 built in 2005 and expanded in 2017. The property includes a main elevator-served building with 37 residential units featuring one- to three-bedroom floor plans, each with a full in-unit washer and dryer. Residential interiors have been upgraded with contemporary flooring, cabinetry, and finishes, and the mix is complemented by a separate townhome-style fourplex.
Street-level retail totals 13 suites and operates under established NNN leases. Retail tenants are supported by fully served HVAC systems. On-site amenities include secured 24-hour resident parking and 87 total parking spaces, along with an on-site daycare, salon, and café.
The property is positioned along high-visibility Bridgeport Way SW with immediate access to I-5, Tacoma, and Joint Base Lewis-McChord. Lakewood Towne Center retail and dining are described as minutes away, and the Lakewood Transit Center is located under two miles from the site.
Street-level retail totals 13 suites and operates under established NNN leases. Retail tenants are supported by fully served HVAC systems. On-site amenities include secured 24-hour resident parking and 87 total parking spaces, along with an on-site daycare, salon, and café.
The property is positioned along high-visibility Bridgeport Way SW with immediate access to I-5, Tacoma, and Joint Base Lewis-McChord. Lakewood Towne Center retail and dining are described as minutes away, and the Lakewood Transit Center is located under two miles from the site.
Key Highlights
- 37 residential units with large 1- to 3‑bedroom floor plans and in‑unit washer/dryer in every unit
- 13 street‑level retail suites operating under established NNN leases
- Built in 2005 with expansion in 2017, including an elevator‑served main building and a separate townhome‑style fourplex
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
Retail
$5.97M
$5.22M – $6.97M
NOI $417,958 @ 7.0% cap · market cap 4.40%
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 authorities.
Property Analytics
Current Use
Lease Details
37
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,914
Businesses Nearby
Explore this area
Business Placement
Demographics for 98499, WA
33,188
Population
14,683
Households
2.3
Avg Household Size
35
Median Age
19%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
3,771
Density / Sq Mi
$65,000
Median Household Income
$41,345
Median Earnings
$1,445
Median Rent
$370,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Town Centre Village combines 37 residential units with 13 street-level retail suites under established NNN leases.
Where is this apartment building 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: 37 residential units with large 1- to 3‑bedroom floor plans and in‑unit washer/dryer in every unit; 13 street‑level retail suites operating under established NNN leases; Built in 2005 with expansion in 2017, including an elevator‑served main building and a separate townhome‑style fourplex
