NNN Retail Building with Highway
11726-11738 Pacific Hwy SW Lakewood, WA 98499
For Sale
Contact for pricing
NNN retail building with leased space to H&R Block through May 2029 and 5% annual increases.
Property Size3,072 SF
Lot Size0.38 Acres
Price / SF$232.75
Days on Market80
Property Features for 11726-11738 Pacific Hwy SW
General Information
Standard status
Active
Size
3,072 SF
Lot size
0.38 Acres
Property subtype
RETAIL
Listing Agency:
CBRE
(206) 605-2841
Listed By:
Patrick Kane
(206) 605-2841
Source:
Moodyscre
Added: May 12
Changed: Jul 26
Last Checked: Jul 29 at 3:13PM
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.
This NNN retail building offers 3,072 SF on 0.38 AC with 210 feet of frontage along Pacific Hwy SW in Lakewood, WA. A portion of the building is currently leased to H&R Block (529 SF), with the term scheduled to end in May 2029.
The property is positioned roughly 900 feet from the I-5 on ramp. The lease is structured as an NNN agreement with 5% annual increases.
The property is positioned roughly 900 feet from the I-5 on ramp. The lease is structured as an NNN agreement with 5% annual increases.
Key Highlights
- 3,072 SF NNN retail building on 0.38 AC
- 210' frontage along Pacific Hwy SW, about 900' from the I‑5 on‑ramp
- 529 SF leased to H&R Block; lease term ends May 2029
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 | $44.2k | $14.40 |
| − Vacancy | −$6.2k | −$2.02 |
| EGI | $38.0k | $12.38 |
| − OpEx | −$11.4k | −$3.72 |
| NOI | $26.6k | $8.67 |
3,072 SF · lease $14.40/SF/yr · vacancy 14.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$380.4K
$332.9K – $443.9K
NOI $26,631 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$829.7K
$726.0K – $968.0K
NOI $58,080 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - NNN retail building with leased space to H&R Block through May 2029 and 5% annual increases.
Where is this storefront property located?
The property is located at 11726-11738 Pacific Hwy SW Lakewood, WA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 3,072 SF NNN retail building on 0.38 AC; 210' frontage along Pacific Hwy SW, about 900' from the I‑5 on‑ramp; 529 SF leased to H&R Block; lease term ends May 2029
