Corner Retail Building with
For Sale
Contact for pricing
5902 S Yakima Ave, Tacoma, WA 98408
Retail commercial building with private office, storage, and fenced rear parking on a corner lot.
Property Size2,850 SF
Lot Size0.16 Acres
Price / SF$208.77
Days on Market151
Property Features for 5902 S Yakima Ave
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.16 Acres
Property subtype
RETAIL
Zoning
TAC
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
private office
storage spaces
tankless water heater
Listing Agency:
HDN Real Estate
(206) 304-0317
Listed By:
Hau Nguyen · License #WA-26780
(206) 304-0317
Source:
Moodyscre
Added: Mar 15
Changed: Aug 8
Last Checked: Aug 11 at 10:48AM
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 HDN Real Estate
Investment Insights
Based on property information with market context.
This commercial retail building offers approximately 2,850 SF of space set on a 6,840 SF corner parcel. The interior includes a private office and storage areas, and the building is equipped with a tankless water heater. Exterior features include rear parking accessed through a gate, with the parking area fully fenced.
The property is located on the corner of S Yakima Ave and S 59th St. It is listed in Zone TAC for Businesses, Retails, and is described as minutes from I-5 and Hwy 7.
For buyers seeking a freestanding retail-oriented asset with dedicated fenced parking and separate office/storage space, this property provides a straightforward, functional layout on a corner site.
The property is located on the corner of S Yakima Ave and S 59th St. It is listed in Zone TAC for Businesses, Retails, and is described as minutes from I-5 and Hwy 7.
For buyers seeking a freestanding retail-oriented asset with dedicated fenced parking and separate office/storage space, this property provides a straightforward, functional layout on a corner site.
Key Highlights
- 2,850 SF commercial building on a 6,840 SF parcel
- Corner lot location on S Yakima Ave & S 59th St
- Zoned TAC for Businesses, Retails
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
$34,294
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
5.76%
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%
$685,880
$685.9K
Cap Rate 7%
$489,914
$489.9K
Cap Rate 9%
$381,044
$381.0K
Market Conditions
NOI Build-Up for 2,850 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
$51.3K $18.00/SF
− Vacancy
−$2.3K −$0.81/SF
EGI
$49.0K $17.19/SF
− OpEx
−$14.7K −$5.16/SF
NOI
$34.3K $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%
$685,880
Cap Rate 7%
$489,914
Cap Rate 9%
$381,044
Alternative Uses
Best Use
Retail
$489.9K
$428.7K – $571.6K
NOI $34,294 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.0K
$766.5K – $1.02M
NOI $61,321 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 26%
Shell
Shops & Services
5,356 visits/mo
0.5 miles
SUBWAY
Dining
2,353 visits/mo
0.1 miles
U-Haul Moving & Storage of Wapato Park
Shops & Services
1,456 visits/mo
0.1 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail commercial building with private office, storage, and fenced rear parking on a corner lot.
Where is this storefront property located?
The property is located at 5902 S Yakima Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,850 SF commercial building on a 6,840 SF parcel; Corner lot location on S Yakima Ave & S 59th St; Zoned TAC for Businesses, Retails
