Retail Space on Pacific
For Sale
$508,600
18823 Pacific Ave S, Spanaway, WA 98387
Retail location with high exposure and ample parking.
Property Size4,800 SF
Price / SF$105.96
Days on Market560
Property Features for 18823 Pacific Ave S
General Information
Standard status
Active
Size
4,800 SF
Building Details
Year Built
1950
Listing Agency:
COMPASS WASHINGTON
Listed By:
GREGORY GARNER
Source:
Corcoran
Added: Apr 18, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 COMPASS WASHINGTON
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Investment Insights
Based on property information with market context.
This retail location offers direct exposure to Pacific Avenue. The property features over 4800 square feet of interior space that has been recently renovated. It includes free-standing signage and suitable parking for both customers and staff. This property is lender-owned and sold "as-is", without any warranties or representations by the Seller or Listing Broker. The property is priced below tax valuation.
Key Highlights
- Direct exposure to Pacific Avenue
- Over 4800 sqft of redone interior space
- Free standing signage in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,610
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,200
$832.2K
Cap Rate 7%
$594,429
$594.4K
Cap Rate 9%
$462,333
$462.3K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$69.1K $14.40/SF
− Vacancy
−$9.7K −$2.02/SF
EGI
$59.4K $12.38/SF
− OpEx
−$17.8K −$3.72/SF
NOI
$41.6K $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%
$832,200
Cap Rate 7%
$594,429
Cap Rate 9%
$462,333
Alternative Uses
Best Use
Retail
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,750 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Retail location with high exposure and ample parking.
Where is this retail space located?
The property is located at 18823 Pacific Ave S Spanaway, WA.
What is the asking price?
The asking price for this property is $508,600.
What are key features of this property?
This property features: Direct exposure to Pacific Avenue; Over 4800 sqft of redone interior space; Free standing signage in place
