Ashley HomeStore Retail
2508 S 38th St, Tacoma, WA 98409
For Sale
Contact for pricing
The property is located at 2508 S 38th St in Tacoma.
Property Size31,950 SF
Price / SF$243.17
Days on Market16
Property Features for 2508 S 38th St
General Information
Standard status
Size
Property subtype
Additional Details
Cap Rate
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Chris Hollenbeck · License WA SA584876000
(602) 538-7155
Source:
Crexi
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 10 at 6:03AM
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 Cushman & Wakefield - Phoenix, Arizona
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property at 2508 S 38th St in Tacoma is identified with the Ashley HomeStore name. The building contains 31,950 square feet and is offered for sale with a 6.50% cap rate.
Key Highlights
- 31,950 SqFt retail property
- 6.50% cap rate
- 2508 S 38th St, Tacoma, WA 98409
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$384,454
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,689,080
$7.7M
Cap Rate 7%
$5,492,200
$5.5M
Cap Rate 9%
$4,271,711
$4.3M
Market Conditions
NOI Build-Up for 31,950 SF
Gross rent
$575.1K $18.00/SF
− Vacancy
−$25.9K −$0.81/SF
EGI
$549.2K $17.19/SF
− OpEx
−$164.8K −$5.16/SF
NOI
$384.5K $12.03/SF
Area
Tacoma, WA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,689,080
Cap Rate 7%
$5,492,200
Cap Rate 9%
$4,271,711
Alternative Uses
Best Use
Retail
$5.49M
$4.81M – $6.41M
NOI $384,454 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.82M
$8.59M – $11.46M
NOI $687,436 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,563
Businesses Nearby
973k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 39%
Dining 19%
Superstores 19%
Shops & Services 15%
Costco Wholesale
Superstores
180,804 visits/mo
0.3 miles
DICK'S Sporting Goods
Apparel
77,353 visits/mo
0.5 miles
Costco Gasoline
Shops & Services
74,534 visits/mo
0.2 miles
JCPenney
Apparel
71,592 visits/mo
0.5 miles
Macy's
Apparel
68,337 visits/mo
0.4 miles
Demographics for 98409, WA
27,840
Population
12,136
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
3,921
Density / Sq Mi
$71,649
Median Household Income
$43,652
Median Earnings
$1,579
Median Rent
$363,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in Tacoma, WA
Properties on Market for Retail space in Tacoma
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - The property is located at 2508 S 38th St in Tacoma.
Where is this retail space located?
The property is located at 2508 S 38th St Tacoma, WA.
What is the asking price?
The asking price for this property is $7,769,231.
What are key features of this property?
This property features: 31,950 SqFt retail property; 6.50% cap rate; 2508 S 38th St, Tacoma, WA 98409
