Mixed-Use Retail and Multifamily
For Sale
$1,550,000
Pending
8201 Tacoma Way, Tacoma, WA 98499
Mixed-use property featuring retail spaces and multifamily units.
Property Size6,936 SF
Days on Market849
Property Features for 8201 Tacoma Way
General Information
Standard status
Pending
Size
6,936 SF
Property subtype
Commercial
Building Details
Year Built
1947
Listing Agency:
NWC - KV LLC
(253) 779-8400
Listed By:
DERRICK URQUHART
Source:
Corcoran
Added: Apr 16, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:03PM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
This mixed-use property features a building with a size of 6,936 square feet, situated on a 15,000-square-foot lot. The property includes a convenience store, a massage business, and four apartment units located upstairs. An adjacent 15,000-square-foot gravel lot is also available, suitable for development or additional parking.
Key Highlights
- Mixed‑use property featuring both retail and multifamily units.
- Includes a convenience store, massage business, and four apartment units.
- Building size of 6,936 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,078
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,001,560
$2.0M
Cap Rate 7%
$1,429,686
$1.4M
Cap Rate 9%
$1,111,978
$1.1M
Market Conditions
NOI Build-Up for 6,936 SF
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.
Gross rent
$139.0K $20.04/SF
− Vacancy
−$5.6K −$0.80/SF
EGI
$133.4K $19.24/SF
− OpEx
−$33.4K −$4.81/SF
NOI
$100.1K $14.43/SF
Area
Tacoma, WA
Vacancy
4.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,001,560
Cap Rate 7%
$1,429,686
Cap Rate 9%
$1,111,978
Alternative Uses
Best Use
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,078 @ 7.0% cap · market cap 6.46%
Second Best
Mixed Use
$1.37M
$1.20M – $1.60M
NOI $95,717 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$2.13M
$1.87M – $2.49M
NOI $149,235 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring retail spaces and multifamily units.
Where is this mixed-use property located?
The property is located at 8201 Tacoma Way Tacoma, WA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Mixed‑use property featuring both retail and multifamily units.; Includes a convenience store, massage business, and four apartment units.; Building size of 6,936 SF.
