Shopping Center with Long-Term
For Sale
Contact for pricing
6010 MT TACOMA DR SW, Lakewood, WA 98499
Established retail center featuring national and local tenants, including Goodwill.
Property Size54,066 SF
Price / SF$160.73
Days on Market148
Property Features for 6010 MT TACOMA DR SW
General Information
Standard status
Active
Size
54,066 SF
Property subtype
Retail
Occupancy
89%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$699,130
Building Details
Year Built
1964
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Kidder Mathews Seattle
Listed By:
Parker Ksidakis · License #WA 130245
(206) 292-6158
Source:
Crexi
Added: Apr 9
Changed: Sep 2
Last Checked: Sep 1 at 4:34AM
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 Kidder Mathews Seattle
Investment Insights
Based on property information with market context.
Lakewood Square is a 54,066-square-foot shopping center built in 1964, with a tenant roster that includes both national and local retailers. Goodwill has occupied space at the property for more than 20 years and recently executed a 10-year lease extension.
Most leases provide annual increases of 3% or more. The property is located at 6010 MT TACOMA DR SW in Lakewood, Washington, offering an established retail setting supported by long-standing occupancy and a diverse tenant mix.
Most leases provide annual increases of 3% or more. The property is located at 6010 MT TACOMA DR SW in Lakewood, Washington, offering an established retail setting supported by long-standing occupancy and a diverse tenant mix.
Key Highlights
- 54,066‑square‑foot shopping center built in 1964
- Goodwill has maintained occupancy for 20+ years
- Goodwill recently signed a 10‑year lease extension
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
$468,687
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
5.39%
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%
$9,373,740
$9.4M
Cap Rate 7%
$6,695,529
$6.7M
Cap Rate 9%
$5,207,633
$5.2M
Market Conditions
NOI Build-Up for 54,066 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
$778.6K $14.40/SF
− Vacancy
−$109.0K −$2.02/SF
EGI
$669.6K $12.38/SF
− OpEx
−$200.9K −$3.72/SF
NOI
$468.7K $8.67/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$14.40 /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%
$9,373,740
Cap Rate 7%
$6,695,529
Cap Rate 9%
$5,207,633
Alternative Uses
Best Use
Retail
$6.70M
$5.86M – $7.81M
NOI $468,687 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.60M
$12.78M – $17.04M
NOI $1,022,185 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,566
Businesses Nearby
365k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 27%
Groceries 20%
Apparel 6%
Safeway
Groceries
72,520 visits/mo
0.5 miles
Safeway Gas
Shops & Services
25,687 visits/mo
0.4 miles
PetSmart
Shops & Services
23,414 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
23,114 visits/mo
0.2 miles
Taco Bell
Dining
18,426 visits/mo
0.1 miles
Demographics for 98499, WA
33,188
Population
14,683
Households
2.3
Avg Household Size
35
Median Age
19%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
3,771
Density / Sq Mi
$65,000
Median Household Income
$41,345
Median Earnings
$1,445
Median Rent
$370,000
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?
Shopping center - Established retail center featuring national and local tenants, including Goodwill.
Where is this shopping center located?
The property is located at 6010 MT TACOMA DR SW Lakewood, WA.
What is the asking price?
The asking price for this property is $8,690,000.
What are key features of this property?
This property features: 54,066‑square‑foot shopping center built in 1964; Goodwill has maintained occupancy for 20+ years; Goodwill recently signed a 10‑year lease extension
