Lakewood Retail Investment
For Sale
$559,000
Pending
10601 Gravelly Lake Dr SW, Tacoma, WA 98499
Retail property in high-traffic Lakewood location with versatile layout.
Property Size2,800 SF
Days on Market623
Property Features for 10601 Gravelly Lake Dr SW
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
BETTER PROPERTIES REAL ESTATE
Listed By:
MARK HULEN · License #50093
(253) 589-2680
Source:
Corcoran
Added: Jan 31, 2025
Changed: Oct 16
Last Checked: Oct 16 at 8:38AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,692
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,840
$673.8K
Cap Rate 7%
$481,314
$481.3K
Cap Rate 9%
$374,356
$374.4K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$50.4K $18.00/SF
− Vacancy
−$2.3K −$0.81/SF
EGI
$48.1K $17.19/SF
− OpEx
−$14.4K −$5.16/SF
NOI
$33.7K $12.03/SF
Area
Tacoma, WA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,840
Cap Rate 7%
$481,314
Cap Rate 9%
$374,356
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,840
Businesses Nearby
1M
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Shops & Services 26%
Apparel 15%
Superstores 11%
Target
Superstores
114,713 visits/mo
0.1 miles
Safeway
Groceries
72,520 visits/mo
0.4 miles
AMC Lakewood Mall 12
Leisure
55,575 visits/mo
0.1 miles
Dollar Tree
Shops & Services
53,364 visits/mo
0.2 miles
Chick-fil-A
Dining
43,203 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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).
