Corner Storefront with On-Site
For Sale
Contact for pricing
5441 S Sheridan Ave, Tacoma, WA 98408
The property carries C-2 / General Community Commercial District zoning and includes on-site parking.
Property Size5,850 SF
Price / SF$161.54
Days on Market11
Property Features for 5441 S Sheridan Ave
General Information
Standard status
Active
Size
5,850 SF
Property subtype
RETAIL
Listing Agency:
NWC - KV LLC
(253) 779-8400
Listed By:
Shane Crook
(206) 579-1149
Source:
Moodyscre
Added: Sep 12
Changed: Sep 20
Last Checked: Sep 21 at 6:51AM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
This 5,850-square-foot storefront property occupies a corner location at 5441 S Sheridan Ave in Tacoma. On-site parking supports the property, while C-2 / General Community Commercial District zoning provides the applicable commercial land-use designation.
The site benefits from exposure along S 56th St, where traffic exceeds 20,000 vehicles per day. I-5 and Tacoma Mall are minutes away, with transit and surrounding amenities also accessible from the property.
The site benefits from exposure along S 56th St, where traffic exceeds 20,000 vehicles per day. I-5 and Tacoma Mall are minutes away, with transit and surrounding amenities also accessible from the property.
Key Highlights
- 5,850‑square‑foot storefront property
- Corner location with exposure along S 56th St
- Over 20,000 vehicles per day on S 56th
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
$70,393
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
7.45%
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%
$1,407,860
$1.4M
Cap Rate 7%
$1,005,614
$1.0M
Cap Rate 9%
$782,144
$782.1K
Market Conditions
NOI Build-Up for 5,850 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
$105.3K $18.00/SF
− Vacancy
−$4.7K −$0.81/SF
EGI
$100.6K $17.19/SF
− OpEx
−$30.2K −$5.16/SF
NOI
$70.4K $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%
$1,407,860
Cap Rate 7%
$1,005,614
Cap Rate 9%
$782,144
Alternative Uses
Best Use
Retail
$1.01M
$879.9K – $1.17M
NOI $70,393 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,869 @ 7.0% cap · market cap 13.32%
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
339
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 68%
Shops & Services 32%
Safeway
Groceries
39,170 visits/mo
0.5 miles
Safeway Gas
Shops & Services
9,444 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,124 visits/mo
0.3 miles
Demographics for 98408, WA
20,566
Population
8,418
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
3.4 sq mi
ZIP Area
6,049
Density / Sq Mi
$78,855
Median Household Income
$45,786
Median Earnings
$1,610
Median Rent
$379,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Safeway Florist — 707 s 56th st, tacoma, wa 98408
Frequently Asked Questions
What type of property is this?
Storefront property - The property carries C-2 / General Community Commercial District zoning and includes on-site parking.
Where is this storefront property located?
The property is located at 5441 S Sheridan Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 5,850‑square‑foot storefront property; Corner location with exposure along S 56th St; Over 20,000 vehicles per day on S 56th
