Retail Property with High
5103 Capitol Boulevard South Tumwater, WA 98501
5103 Capitol Boulevard South, Tumwater, WA, 98501
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For Sale
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High-visibility retail property with value-add opportunities in Tumwater, WA.
Property Size17,208 SF
Price / SF$244.07
Days on Market68
Property Features for 5103 Capitol Boulevard South
General Information
- Standard status
- Active
- Size
- 17,208 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1972
Listing Agency
CBRE - Seattle
Listed by
Patrick Kane · License #25030374
Source
Crexi
Added: May 12 Checked: Jul 17 at 7:25 am
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 CBRE - Seattle
Investment Insights
Based on property information with market context.
This retail property offers excellent visibility along a high-traffic corridor. The property features loyal, well-followed tenants and multiple value-add opportunities. The HVAC systems have been recently replaced. A new roof is scheduled for installation in 2025. The property includes 81 parking stalls and four curb cuts on Capitol Boulevard South. The property size is 17208 square feet.
Key Highlights
- Excellent visibility along a high‑traffic corridor
- New Roof Installed 2025
- HVAC Systems recently replaced
Local Financial Insights For Retail
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 | $309.7k | $18.00 |
| − Vacancy | −$13.0k | −$0.76 |
| EGI | $296.7k | $17.24 |
| − OpEx | −$89.0k | −$5.17 |
| NOI | $207.7k | $12.07 |
17,208 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.97M
$2.60M – $3.46M
NOI $207,714 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $352,695 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — 520 Cleveland Ave SE Safeway, Tumwater, WA 98501
FAQs
What type of property is this?
Shopping center - High-visibility retail property with value-add opportunities in Tumwater, WA.
Where is this shopping center located?
The property is located at 5103 Capitol Boulevard South Tumwater, WA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Excellent visibility along a high‑traffic corridor; New Roof Installed 2025; HVAC Systems recently replaced
