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    4221 Pacific Ave Lacey, WA 98503

    For Sale
    $1,399,000

    Three buildings, high traffic location, development potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional commercial property at 4221 Pacific Avenue SE in Lacey, WA, presents a unique investment opportunity. The offering encompasses three distinct buildings situated on a prime corner lot with high visibility and traffic exposure. The main building houses a well-established Lacey Shoe Repair business, complete with a recently remodeled two-bedroom residential unit above, ideal for owner-occupancy. A separate, sizable building in front is currently occupied by a tenant, generating consistent rental income. Adding to the versatility, a detached two-car garage and a charming standalone house with a pleasant yard are also included. The property's diverse components offer multiple income streams and significant potential for future development. The Lacey Shoe Repair business is available for separate purchase at $120,000, having previously generated gross revenue exceeding $300,000 annually before the COVID-19 pandemic. This multifaceted property is priced at $1,399,000 and presents a compelling opportunity for investors seeking a blend of established income and significant upside potential in a thriving Lacey location. The property's size is not specified, but its three buildings and additional structures offer substantial square footage across the site. The lot size is listed as zero acres, suggesting a relatively compact footprint. This high-traffic corner location makes it an ideal investment for a variety of commercial ventures.

    Property Features for 4221 Pacific Ave

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1930
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lacey
    County
    Thurston
    State
    Washington
    Longitude
    -122.8312
    Latitude
    47.03839

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    FAQs

    What type of property is this?
    Commercial real estate - Three buildings, high traffic location, development potential.
    Where is this commercial real estate located?
    The property is located at 4221 Pacific Ave Lacey, WA.
    What is the asking price?
    The asking price for this property is $1,399,000.
    (360) 754-7090
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4221 Pacific Ave Lacey, WA 98503
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