Adaptable Commercial Space For
For Sale
$1,660,800
4820 Washington St, Tacoma, WA 98409
Commercial property suitable for retail, showroom, or light industrial use.
Property Size5,536 SF
Price / SF$300
Days on Market586
Property Features for 4820 Washington St
General Information
Standard status
Active
Size
5,536 SF
Property subtype
Commercial
Building Details
Year Built
1974
Listing Agency:
LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
Listed By:
BILLY MOULTRIE
(206) 228-1847
Source:
Corcoran
Added: Feb 4, 2025
Changed: Sep 8
Last Checked: Sep 13 at 7:23AM
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 LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This property is located in an established commercial and industrial area, offering high accessibility. It features adaptable space suitable for retail, showroom, or light industrial purposes. The site includes dedicated parking, which is beneficial for both customers and staff.
Key Highlights
- Established commercial and industrial area location.
- High accessibility.
- Dedicated parking.
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
$66,615
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
4.01%
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%
$1,332,300
$1.3M
Cap Rate 7%
$951,643
$951.6K
Cap Rate 9%
$740,167
$740.2K
Market Conditions
NOI Build-Up for 5,536 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
$99.6K $18.00/SF
− Vacancy
−$4.5K −$0.81/SF
EGI
$95.2K $17.19/SF
− OpEx
−$28.5K −$5.16/SF
NOI
$66.6K $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 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%
$1,332,300
Cap Rate 7%
$951,643
Cap Rate 9%
$740,167
Alternative Uses
Best Use
Retail
$951.6K
$832.7K – $1.11M
NOI $66,615 @ 7.0% cap · market cap 4.01%
Second Best
Industrial
$846.8K
$740.9K – $987.9K
NOI $59,273 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,113 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Mosaic Tile Arts — 3501 S 54th St, Tacoma, WA 98409
- T & A Supply Company Inc — 5211 S Washington St # A, Tacoma, WA 98409
- AST Floors — 5049 S Tacoma Way, Tacoma, WA 98409
Frequently Asked Questions
What type of property is this?
Showroom - Commercial property suitable for retail, showroom, or light industrial use.
Where is this showroom located?
The property is located at 4820 Washington St Tacoma, WA.
What is the asking price?
The asking price for this property is $1,660,800.
What are key features of this property?
This property features: Established commercial and industrial area location.; High accessibility.; Dedicated parking.
