Manufacturing Property with Paint
3960 12th Ave SE, Lacey, WA 98503
For Sale
$3,100,000
Industrial facility combining office, showroom, warehouse, and production areas with dedicated loading and high-capacity electrical service.
Property Size32,446 SF
Price / SF$95.54
Days on Market48
Property Features for 3960 12th Ave SE
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Power
Voltage
Three-Phase Power
Additional Details
Asking Price
Building Details
Year Built
Buildings
Building Size
Listing Agency:
NAI Puget Sound Properties
Listed By:
Sam Johnson · License #WA 138068
(425) 586-5620
Source:
Nai-psp
Added: Sep 22
Changed: Oct 26
Last Checked: Nov 8 at 4:17AM
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 NAI Puget Sound Properties
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Investment Insights
Based on property information with market context.
Built in 1960, this manufacturing property contains approximately 32,446 square feet arranged for office, showroom, warehouse, and production or distribution functions. The two-story office component measures approximately 5,496 square feet, while the warehouse area encompasses 26,950 square feet. A dedicated paint booth supports specialized operations, and the building offers a 22-foot clear height.
Loading includes grade-level access along with covered dock-high service. Electrical capacity includes 400-amp, 277/480V, 3-phase power. The property is located at 3960 12th Ave SE in Lacey, Washington, and carries CBD-4 zoning.
Loading includes grade-level access along with covered dock-high service. Electrical capacity includes 400-amp, 277/480V, 3-phase power. The property is located at 3960 12th Ave SE in Lacey, Washington, and carries CBD-4 zoning.
Key Highlights
- Approximately 32,446 square feet total
- Approximately 5,496 square feet of two‑story office space
- Approximately 26,950 square feet of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$265,854
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,317,080
$5.3M
Cap Rate 7%
$3,797,914
$3.8M
Cap Rate 9%
$2,953,933
$3.0M
Market Conditions
NOI Build-Up for 32,446 SF
Gross rent
$447.8K $13.80/SF
− Vacancy
−$22.4K −$0.69/SF
EGI
$425.4K $13.11/SF
− OpEx
−$159.5K −$4.92/SF
NOI
$265.9K $8.19/SF
Area
Thurston County, WA
Vacancy
5.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,317,080
Cap Rate 7%
$3,797,914
Cap Rate 9%
$2,953,933
Alternative Uses
Best Use
Warehouse
$4.56M
$3.99M – $5.32M
NOI $319,340 @ 7.0% cap · market cap 10.30%
Second Best
Mixed Use
$3.80M
$3.32M – $4.43M
NOI $265,854 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$9.50M
$8.31M – $11.08M
NOI $665,013 @ 7.0% cap · market cap 21.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
22 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 98503, WA
40,346
Population
18,375
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
3,635
Density / Sq Mi
$87,515
Median Household Income
$47,554
Median Earnings
$1,673
Median Rent
$407,700
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial facility combining office, showroom, warehouse, and production areas with dedicated loading and high-capacity electrical service.
Where is this manufacturing property located?
The property is located at 3960 12th Ave SE Lacey, WA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Approximately 32,446 square feet total; Approximately 5,496 square feet of two‑story office space; Approximately 26,950 square feet of warehouse space
