Lakewood Retail Investment
10601 Gravelly Lake Dr SW, Tacoma, WA 98499
Retail property in high-traffic Lakewood location with versatile layout.
Type:Commercial
Property size:
2,800 SFPrice / SF:
$199/SF- Added:
- Jan 31, 2025
- Days on Market:
- 487
- Last Refresh:
- May 10 at 10:13 pm
Property Features for 10601 Gravelly Lake Dr SW
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1951
Listing agent MARK HULEN
Listing office BETTER PROPERTIES REAL ESTATE (253) 589-2680
Listing date Jan 31, 2025
Source Corcoran
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 BETTER PROPERTIES REAL ESTATE
HighLights
- Excellent location in the heart of Lakewood with high traffic and good visibility.
- Zoned Central Business District, offering versatile usage possibilities.
- Combined building square footage over 2800, including a main building (2378sf) and a salon (580sf).
- Corner lot.
- Surrounded by established businesses and growing residential developments.
- Includes a storage/converted garage space.
Overview
This property presents an investment opportunity in a high-traffic location. The corner lot is zoned Central Business District, offering many possibilities. The combined building size is over 2800 square feet. The main building is 2378 square feet, with an additional salon space of 580 square feet, and a storage/converted garage space. The property is located in the heart of Lakewood, surrounded by established businesses and growing residential developments, and offers good visibility.
Local Financial Insights For Retail
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 | $50.4k | $18.00 |
| − Vacancy | −$2.3k | −$0.81 |
| EGI | $48.1k | $17.19 |
| − OpEx | −$14.4k | −$5.16 |
| NOI | $33.7k | $12.03 |
2,800 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$481.3K
$421.2K – $561.5K
NOI $33,692 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$860.6K
$753.1K – $1.00M
NOI $60,245 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Map
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.512
- Latitude
- 47.1619
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Retail property in high-traffic Lakewood location with versatile layout.
Where is this retail space located?
The property is located at 10601 Gravelly Lake Dr SW Tacoma, WA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Excellent location in the heart of Lakewood with high traffic and good visibility.; Zoned Central Business District, offering versatile usage possibilities.; Combined building square footage over 2800, including a main building (2378sf) and a salon (580sf).
