Corner Storefront
For Sale
$595,000
5902 Yakima Ave, Tacoma, WA 98408
TAC-zoned commercial building with private office, storage areas, gated rear parking, and enclosed grounds.
Property Size2,850 SF
Lot Size0.16 Acres
Price / SF$208.77
Days on Market34
Property Features for 5902 Yakima Ave
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.16 Acres
Zoning
TAC
Additional Details
Corner Location
Yes
Amenities
Private office
storage spaces
Tankless water heater
rear parking with gate & fully fence
Building Details
Year Built
1925
Buildings
1
Listing Agency:
HDN Real Estate
(425) 277-1500
Listed By:
Hau Nguyen · License #WA-26780
Source:
Hanshagmeier
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 25 at 4:47AM
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.
Built in 1925, this 2,850-square-foot commercial building occupies a 6,840-square-foot parcel at 5902 Yakima Ave. The property includes a private office, storage areas, a tankless water heater, and rear parking secured by a gate. The grounds are fully fenced, adding controlled access to the rear portion of the site.
The building sits at the corner of S. Yakima Ave and S. 59th St in Tacoma. TAC zoning is identified for business and retail uses, and the property is located minutes from I-5 and Hwy 7. Its storefront configuration, corner position, and existing office, storage, and parking components provide a practical setup for a range of commercial operations supported by the stated zoning.
The building sits at the corner of S. Yakima Ave and S. 59th St in Tacoma. TAC zoning is identified for business and retail uses, and the property is located minutes from I-5 and Hwy 7. Its storefront configuration, corner position, and existing office, storage, and parking components provide a practical setup for a range of commercial operations supported by the stated zoning.
Key Highlights
- 2,850SF commercial building on a 6,840SF parcel
- Corner location at S. Yakima Ave and S 59th St
- TAC zoning for businesses and retail uses
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
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
78k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 31%
Dining 18%
Safeway
Groceries
39,170 visits/mo
0.2 miles
Jack in the Box
Dining
11,793 visits/mo
0.5 miles
Safeway Gas
Shops & Services
9,444 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,124 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
4,239 visits/mo
0.5 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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Similar Off Market Nearby
- Safeway Florist — 707 s 56th st, tacoma, wa 98408
Frequently Asked Questions
What type of property is this?
Storefront property - TAC-zoned commercial building with private office, storage areas, gated rear parking, and enclosed grounds.
Where is this storefront property located?
The property is located at 5902 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: 2,850SF commercial building on a 6,840SF parcel; Corner location at S. Yakima Ave and S 59th St; TAC zoning for businesses and retail uses
