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    5121 Pacific Hwy E Fife, WA 98424

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    For Lease
    $14,093/Mo $19 SF/Yr (calc)

    Highly visible commercial space with creative potential and ample parking.

    Type:Commercial
    Property size:
    8,901 SF
    Added:
    Apr 15, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 15 at 9:44 pm

    Property Features for 5121 Pacific Hwy E

    General Information

    Standard status
    Active
    Size
    8,901 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    JACOB FORS

    Listing agent JACOB FORS

    Listing office FIRST WESTERN PROPERTIES - TACOMA, INC.

    Listing date Apr 15, 2026

    Source Corcoran

    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 FIRST WESTERN PROPERTIES - TACOMA, INC.

    Overview

    Fife Commercial Space Available

    This commercial space, totaling 8,901 square feet, offers high visibility from Pacific Highway. The property features ample on-site parking and provides an opportunity for pylon signage, maximizing exposure. The space has creative potential. NNN expenses are estimated at $5.50 per square foot.
    Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fife
    County
    Pierce
    State
    Washington
    Longitude
    -122.3598923
    Latitude
    47.2434393

    Nearby Similar for Lease

    • $1.15/mo

      Fife Industrial Space For Lease

      Industrial space with convenient access to major transportation routes.
      2523 Pacific Highway E, Fife, WA 98424
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      Fife Freestanding Office Building

      Freestanding office building with recent upgrades and excellent accessibility.
      502 54th Ave E, Fife, WA 98424
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      Fife Freestanding Buildings For Lease

      Two buildings totaling 3,813 SF, flexible occupancy, excellent access.
      1907 62nd Ave E, Fife, WA 98424
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      Fife Freestanding Buildings For Lease

      Two buildings totaling 3,813 SF, flexible occupancy, convenient location.
      6205 20th St E, Fife, WA 98424
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    • Contact for pricing

      Remodeled Office Suite in Fife

      Recently remodeled office suite with I-5 access and ample parking.
      3077 20th St E, Fife, WA 98424
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      Restaurant Space with Type I Hood

      Equipped restaurant space suitable for food users.
      4716 Pacific Hwy E, Fife, WA 98424
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      Retail Space in Established Center

      Retail space available in well-established shopping center with ample parking.
      4420 Pacific Hwy E, Fife, WA 98424
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      Furnished Office Space Available

      Bright, open, and fully furnished office space for rent.
      5050 20th Street E, Fife, WA 98424
      View Details
    • Contact for pricing

      Fife Flex Space Available

      Flex space with I-5 and Port of Tacoma access.
      4630 16th St E, Fife, WA 98424
      View Details
    • $22/mo

      Fife Office Building with Parking

      39,206 SF office building with plentiful parking and great access.
      6021 12th St E, Fife, WA 98424
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      Fife Flex Space Available

      4,213 SF flex space with office and warehouse components.
      2523 Pacific Hwy E, Fife, WA 98424
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    • Contact for pricing

      Established Shopping Center For Rent

      Shopping center with national and local tenants, ample parking.
      4420 Pacific Hwy E, Fife, WA 98424
      View Details

    FAQs

    What type of property is this?
    Creative space - Highly visible commercial space with creative potential and ample parking.
    Where is this creative space located?
    The property is located at 5121 Pacific Hwy E Fife, WA.
    What is the lease rate?
    The lease rate is $14,093 /Mo.
    What are key features of this property?
    This property features: Highly visible from Pacific Highway; Pylon signage opportunity for maximum exposure; Ample on‑site parking
    We can help!
    Listing Contact
    JACOB FORS
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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