Lacey WA Industrial Investment
2600 Willamette Dr NE, Lacey, WA 98516
Stabilized industrial asset near I-5 with excellent regional connectivity.
Type:Industrial, Office
Property size:
20,714 SFPrice / SF:
$195/SF- Added:
- Mar 18, 2026
- Days on Market:
- 102
- Last Refresh:
- Mar 20 at 12:22 am
Property Features for 2600 Willamette Dr NE
General Information
- Standard status
- Active
- Size
- 20,714 SF
- Property subtype
- Industrial, Office
Building Details
- Year Built
- 2000
Listing office Northmarq - Seattle
Listing date Mar 18, 2026
Source Crexi
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 Northmarq - Seattle
HighLights
- Fully leased industrial asset providing stable cash flow.
- Excellent regional connectivity to Seattle, Tacoma, and Portland via proximity to I‑5.
- Located in a supply‑constrained market with favorable long‑term fundamentals.
- Functional industrial design with convenient truck access.
- Well‑suited for last‑mile distribution and light manufacturing.
- Built in 2000.
Overview
The property at 2600 Willamette Dr NE in Lacey, WA, presents a stabilized industrial investment opportunity. The 20,714-square-foot property is situated just minutes from I-5, providing excellent regional connectivity between Seattle, Tacoma, and Portland. This location makes it suitable for last-mile distribution and light manufacturing serving the broader Pacific Northwest. The building features a functional industrial design and convenient truck access. Its proximity to major transportation corridors positions it to meet sustained demand from logistics, e-commerce, and service-oriented industrial tenants. The property is a fully leased industrial asset in a supply-constrained market with favorable long-term fundamentals, offering stable cash flow potential and upside through continued market rent growth.
Local Financial Insights For Warehouse
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 | $253.5k | $12.24 |
| − Vacancy | −$13.7k | −$0.66 |
| EGI | $239.8k | $11.58 |
| − OpEx | −$36.0k | −$1.74 |
| NOI | $203.9k | $9.84 |
20,714 SF · lease $12.24/SF/yr · vacancy 5.40% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.91M
$2.55M – $3.40M
NOI $203,871 @ 7.0% cap · market cap 5.03%
Second Best
Industrial
$2.40M
$2.10M – $2.80M
NOI $168,071 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$6.07M
$5.31M – $7.08M
NOI $424,554 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Manufacturing properties
Similar Places Nearby
- Access - Scanning, Records Storage, and Document Management — 2640 Willamette Dr NE, Lacey, WA 98516
- Storageland LLC — 8940 Martin Way E, Lacey, WA 98516
- Washington Archives Management — 2640 Willamette Dr NE, Lacey, WA 98516
- I5 Storage Shop — 8735 Commerce Pl Dr NE, Lacey, WA 98516
- Rainier View Storage — 2327 Willamette Dr NE, Lacey, WA 98516
Location Insight
- Map
- Local Demand
- City
- Lacey
- County
- Thurston
- State
- Washington
- Longitude
- -122.7576782
- Latitude
- 47.0698161
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Stabilized industrial asset near I-5 with excellent regional connectivity.
Where is this warehouse located?
The property is located at 2600 Willamette Dr NE Lacey, WA.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: Fully leased industrial asset providing stable cash flow.; Excellent regional connectivity to Seattle, Tacoma, and Portland via proximity to I‑5.; Located in a supply‑constrained market with favorable long‑term fundamentals.
