Flexible Retail and Office
510 Custer Way Tumwater, WA 98501
510 Custer Way, Tumwater, WA, 98501
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For Sale
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Modern building with high-visibility frontage and flexible suite layout for retail or professional office use.
Property Size5,244 SF
Lot Size0.28 Acres
Price / SF$190.50
Days on Market51
Property Features for 510 Custer Way
General Information
- Standard status
- Active
- Size
- 5,244 SF
- Lot size
- 0.28 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 2004
Listing agency
Greene Commercial
(360) 688-8333
Listed by
Quint Newell · License #WA 113575
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:53PM Checked: Jul 21 at 12:14PM
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 Greene Commercial
Investment Insights
Based on property information with market context.
This 5,244-square-foot commercial building sits on a 0.28-acre parcel and is designed with a flexible interior layout that can accommodate multiple units or suites. The property is described as modern in construction and built to support both retail and professional office use.
The site features high-visibility frontage on Custer Way and curb appeal. Vehicle access is available, with 9,710 square feet of asphalt paving and 23 surface parking stalls located at the rear of the building. The parcel is stated to be entirely outside flood zones.
For an owner-user or investor, the primary value is the building’s adaptable configuration for mixed or changing tenant needs. The combination of modern construction, storefront-style street presence, and on-site parking supports day-to-day operations for service-oriented businesses and professional offices, as well as retail concepts that benefit from visibility from the roadway.
The site features high-visibility frontage on Custer Way and curb appeal. Vehicle access is available, with 9,710 square feet of asphalt paving and 23 surface parking stalls located at the rear of the building. The parcel is stated to be entirely outside flood zones.
For an owner-user or investor, the primary value is the building’s adaptable configuration for mixed or changing tenant needs. The combination of modern construction, storefront-style street presence, and on-site parking supports day-to-day operations for service-oriented businesses and professional offices, as well as retail concepts that benefit from visibility from the roadway.
Key Highlights
- 5,244 SF commercial building built in 2004 on a 0.28‑acre parcel in Tumwater’s Special Brewery District
- Entire parcel is outside flood zones
- High‑visibility frontage on Custer Way
Local Financial Insights For Office B
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 | $113.3k | $21.60 |
| − Vacancy | −$22.2k | −$4.23 |
| EGI | $91.1k | $17.37 |
| − OpEx | −$22.8k | −$4.34 |
| NOI | $68.3k | $13.02 |
5,244 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$975.7K
$853.8K – $1.14M
NOI $68,302 @ 7.0% cap · market cap 6.84%
Second Best
Retail
$904.3K
$791.2K – $1.05M
NOI $63,299 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,481 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Modern building with high-visibility frontage and flexible suite layout for retail or professional office use.
Where is this office units located?
The property is located at 510 Custer Way Tumwater, WA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5,244 SF commercial building built in 2004 on a 0.28‑acre parcel in Tumwater’s Special Brewery District; Entire parcel is outside flood zones; High‑visibility frontage on Custer Way
