Three-Building Shopping
14962 Pacific Avenue South, Spanaway, WA 98387
For Sale
Contact for pricing
The center fronts Pacific Avenue South at a signalized intersection with Military Road South.
Property Size88,500 SF
Lot Size7.62 Acres
Price / SF$257.13
Days on Market12
Property Features for 14962 Pacific Avenue South
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Traffic Count
Additional Details
Asking Price
Tenant in Place
Building Details
Buildings
Tenancy
Listing Agency:
SimonCRE
Listed By:
Peter LeBlanc · License AZ SA708476000
Source:
Crexi
Added: Oct 29
Changed: Nov 8
Last Checked: Nov 8 at 4:16PM
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 SimonCRE
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-building shopping center spans approximately 88,500 SF on 7.62 acres. O’Reilly Auto Parts has signed a 15-year lease for a 9,447 SF space. Grocery Outlet and Ross Dress for Less have executed leases for 17,165 SF and 27,359 SF, respectively, with openings planned for 2027. Sherwin-Williams has also signed a lease, while a Five Below lease is being finalized. Approximately 4,400 SF remains available.
The property fronts Pacific Avenue South at its signalized intersection with Military Road South, where traffic is reported at 59,022 VPD. The trade area is next to Joint Base Lewis-McChord, identified as one of Washington State’s three largest employers.
The property fronts Pacific Avenue South at its signalized intersection with Military Road South, where traffic is reported at 59,022 VPD. The trade area is next to Joint Base Lewis-McChord, identified as one of Washington State’s three largest employers.
Key Highlights
- Three buildings totaling approximately 88,500 SF on 7.62 acres
- Approximately 4,400 SF available
- O’Reilly Auto Parts signed a 15‑year lease for 9,447 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$767,189
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,343,780
$15.3M
Cap Rate 7%
$10,959,843
$11.0M
Cap Rate 9%
$8,524,322
$8.5M
Market Conditions
NOI Build-Up for 88,500 SF
Gross rent
$1.27M $14.40/SF
− Vacancy
−$178.4K −$2.02/SF
EGI
$1.10M $12.38/SF
− OpEx
−$328.8K −$3.72/SF
NOI
$767.2K $8.67/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,343,780
Cap Rate 7%
$10,959,843
Cap Rate 9%
$8,524,322
Alternative Uses
Best Use
Retail
$10.96M
$9.59M – $12.79M
NOI $767,189 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.90M
$20.92M – $27.89M
NOI $1,673,202 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
59,022 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
210k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 35%
Shops & Services 14%
Home Improvements & Furnishings 8%
Safeway
Groceries
41,009 visits/mo
0.1 miles
Albertsons
Groceries
33,470 visits/mo
0.3 miles
Wendy's
Dining
21,547 visits/mo
0.0 miles
Tractor Supply Co.
Home Improvements & Furnishings
16,225 visits/mo
0.2 miles
Jack in the Box
Dining
14,653 visits/mo
0.5 miles
Demographics for 98387, WA
51,630
Population
17,151
Households
3
Avg Household Size
35
Median Age
17%
College-Educated
91%
High-School Grad
26.6 sq mi
ZIP Area
1,941
Density / Sq Mi
$101,141
Median Household Income
$54,167
Median Earnings
$1,837
Median Rent
$424,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
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- Coinstar Kiosk | Bitcoin ATM — 15805 Pacific Ave S Safeway, Tacoma, WA 98444
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- Coinstar Kiosk - Bitcoin ATM — 104 Military Rd S Albertsons, Tacoma, WA 98444
Frequently Asked Questions
What type of property is this?
Shopping center - The center fronts Pacific Avenue South at a signalized intersection with Military Road South.
Where is this shopping center located?
The property is located at 14962 Pacific Avenue South Spanaway, WA.
What is the asking price?
The asking price for this property is $22,756,000.
What are key features of this property?
This property features: Three buildings totaling approximately 88,500 SF on 7.62 acres; Approximately 4,400 SF available; O’Reilly Auto Parts signed a 15‑year lease for 9,447 SF
