12134 Pacific Hwy SW Lakewood, WA 98499

Building Details

Year Built

1941

Listing office COMPASS m***@compass.com

Listing date Apr 17, 2024

Source Corcoran

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Investment Insights

Based on property information with market context.

This fully occupied, three-unit retail strip presents an investment opportunity. Anchored by two established restaurants and a smoke shop, the property is located on Pacific Highway, benefiting from high visibility and traffic. The site offers parking visibility and potential for increased rents. All units operate under triple net leases (NNN), with tenants responsible for expenses. The property is situated in a growing area and includes two tax parcels. The leases are structured for five years with annual rent increases of 3%. The property is intended for retail use.

Key Highlights

• Fully occupied 3‑unit retail strip on HIGH‑TRAFFIC Pacific Highway.
• Anchored by two established restaurants and a smoke shop.
• All units under triple net leases (NNN).

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FAQs

What type of property is this?

Strip mall - Three-unit retail strip on Pacific Highway with NNN leases.

Where is this strip mall located?

The property is located at 12134 Pacific Hwy SW Lakewood, WA.

What is the asking price?

The asking price for this property is $1,097,000.

What are key features of this property?

This property features: Fully occupied 3‑unit retail strip on HIGH‑TRAFFIC Pacific Highway.; Anchored by two established restaurants and a smoke shop.; All units under triple net leases (NNN).