Mixed-Use Retail-Industrial
For Sale
Contact for pricing
3802 S Cedar St, Tacoma, WA 98409
Street-facing retail is paired with functional industrial space under Urban Center Mixed Use zoning.
Property Size30,063 SF
Price / SF$164.82
Days on Market115
Property Features for 3802 S Cedar St
General Information
Standard status
Active
Size
30,063 SF
Class
B
Total Parking Spaces
52
Property subtype
Retail, Industrial, Mixed Use
Zoning
Urban Center Mixed Use (UCX)
Occupancy
60%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$406,512
Additional Details
Anchor Co-Tenants
Sherwin-Williams
Building Details
Year Built
1978
Year Renovated
1990
Tenancy
Multi
Listing Agency:
Northmarq - Seattle
Listed By:
RJ Vara · License #135292
Source:
Crexi
Added: May 8
Changed: Aug 30
Last Checked: Aug 30 at 1:01AM
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
Investment Insights
Based on property information with market context.
Located at 3802 S Cedar St in Tacoma, Washington, this 30,063-square-foot property was constructed in 1978 and combines customer-facing retail with industrial space. The configuration supports storage, workspace, and back-of-house functions within one commercial asset, with a mix of occupied and vacant suites.
Sherwin-Williams has occupied the site since 1996, providing an established retail presence. The property is zoned Urban Center Mixed Use (UCX), and its layout includes both street-oriented retail areas and more utilitarian industrial space. This combination provides a range of physical configurations for continued retail, storage, and workspace operations.
Sherwin-Williams has occupied the site since 1996, providing an established retail presence. The property is zoned Urban Center Mixed Use (UCX), and its layout includes both street-oriented retail areas and more utilitarian industrial space. This combination provides a range of physical configurations for continued retail, storage, and workspace operations.
Key Highlights
- 30,063‑square‑foot mixed‑use property in Tacoma, Washington
- Street‑facing retail areas combined with industrial space
- Sherwin‑Williams has occupied the site since 1996
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$414,869
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,297,380
$8.3M
Cap Rate 7%
$5,926,700
$5.9M
Cap Rate 9%
$4,609,656
$4.6M
Market Conditions
NOI Build-Up for 30,063 SF
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.
Gross rent
$721.5K $24.00/SF
− Vacancy
−$57.7K −$1.92/SF
EGI
$663.8K $22.08/SF
− OpEx
−$248.9K −$8.28/SF
NOI
$414.9K $13.80/SF
Area
Tacoma, WA
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,297,380
Cap Rate 7%
$5,926,700
Cap Rate 9%
$4,609,656
Alternative Uses
Best Use
Mixed Use
$5.93M
$5.19M – $6.91M
NOI $414,869 @ 7.0% cap · market cap 8.37%
Second Best
Retail
$5.17M
$4.52M – $6.03M
NOI $361,748 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$9.24M
$8.09M – $10.78M
NOI $646,836 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,683
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-facing retail is paired with functional industrial space under Urban Center Mixed Use zoning.
Where is this mixed-use property located?
The property is located at 3802 S Cedar St Tacoma, WA.
What is the asking price?
The asking price for this property is $4,955,000.
What are key features of this property?
This property features: 30,063‑square‑foot mixed‑use property in Tacoma, Washington; Street‑facing retail areas combined with industrial space; Sherwin‑Williams has occupied the site since 1996
