Tacoma Retail Center For
11401 Steele Street South Tacoma, WA 98444
For Sale
$3,539,000
9,424 SF retail center in Tacoma, WA for sale.
Property Size9,424 SF
Lot Size1.53 Acres
Price / SF$375.53
Days on Market128
Property Features for 11401 Steele Street South
General Information
Standard status
Active
Size
9,424 SF
Lot size
1.53 Acres
Property subtype
Retail
Listing Agency:
CBRE
(425) 462-6901
Listed By:
Ric Brandt
(425) 462-6901
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 6 at 12:12PM
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 CBRE
Investment Insights
Based on property information with market context.
The property at 11401 Steele Street South, Tacoma, WA, 98444 is a retail center offering approximately 9,424 square feet of space on a 1.53-acre parcel. Constructed in 2005, the single-story building features concrete tilt-up construction with decorative split-faced masonry accents. The property is zoned CE (Commercial Employment), allowing for a wide range of office and retail uses. It is located minutes from Joint Base Lewis-McChord and Interstate 5. The center includes approximately 60 surface parking stalls and is accessible via public transportation along Steele Street. The property features a mix of long-term, service-oriented tenants. A new roof installation is planned for April 2025.
Key Highlights
- Strong mix of long‑term, service‑oriented tenants.
- New roof installed in April 2025, ensuring long‑term asset stability.
- High visibility location minutes from Joint Base Lewis‑McChord and Interstate 5.
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 | $169.6k | $18.00 |
| − Vacancy | −$7.6k | −$0.81 |
| EGI | $162.0k | $17.19 |
| − OpEx | −$48.6k | −$5.16 |
| NOI | $113.4k | $12.03 |
9,424 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.62M
$1.42M – $1.89M
NOI $113,399 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.53M – $3.38M
NOI $202,767 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Shopping center - 9,424 SF retail center in Tacoma, WA for sale.
Where is this shopping center located?
The property is located at 11401 Steele Street South Tacoma, WA.
What is the asking price?
The asking price for this property is $3,539,000.
What are key features of this property?
This property features: Strong mix of long‑term, service‑oriented tenants.; New roof installed in April 2025, ensuring long‑term asset stability.; High visibility location minutes from Joint Base Lewis‑McChord and Interstate 5.
