Retail Space on Pacific
18823 Pacific Ave S Spanaway, WA 98387
For Sale
$508,600
Retail location with high exposure and ample parking.
Property Size4,800 SF
Price / SF$105.96
Days on Market469
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
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 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 | $69.1k | $14.40 |
| − Vacancy | −$9.7k | −$2.02 |
| EGI | $59.4k | $12.38 |
| − OpEx | −$17.8k | −$3.72 |
| NOI | $41.6k | $8.67 |
4,800 SF · lease $14.40/SF/yr · vacancy 14.00% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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
