Tumwater Warehouse with
For Sale
Contact for pricing
7960 Center St SW, Tumwater, WA 98501
Steel-framed warehouse with mezzanine and ample parking in Tumwater.
Property Size52,570 SF
Lot Size2.80 Acres
Price / SF$119.84
Days on Market2162
Property Features for 7960 Center St SW
General Information
Standard status
Active
Size
52,570 SF
Lot size
2.80 Acres
Property subtype
Industrial
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$431,216
Building Details
Year Built
2007
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Premier Commercial NW
Listed By:
Joni Baker · License #77946
Source:
Crexi
Added: Sep 23, 2020
Changed: Aug 23
Last Checked: Aug 24 at 7:23AM
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 Premier Commercial NW
Investment Insights
Based on property information with market context.
This property features a 52,000 square foot steel-framed warehouse with a 2,000 square foot interior second-floor mezzanine. Constructed in 2008, the building includes steel siding, steel roofing, and concrete floors. The facility is insulated and equipped with 6 HVAC units, 440 KVA of electrical power, and natural gas heat in the warehouse area. There are 90 parking stalls available. The property is situated on 2.8 acres of leased land, which is approximately 121,968 square feet. The interior has been newly finished to create a retail environment for the public. Located in Thurston County, the property benefits from a strong regional economy supported by a stable workforce, with 50% employed by the government.
Key Highlights
- 52,000 Sq Ft Steel Framed Warehouse with 2,000 Sq Ft Mezzanine
- 2.8 Acres (121,968 Sq Ft) of Leased Land
- Built in 2008 with Steel Frame, Walls, and Roof
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
$517,404
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
8.21%
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%
$10,348,080
$10.3M
Cap Rate 7%
$7,391,486
$7.4M
Cap Rate 9%
$5,748,933
$5.7M
Market Conditions
NOI Build-Up for 52,570 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
$643.5K $12.24/SF
− Vacancy
−$34.7K −$0.66/SF
EGI
$608.7K $11.58/SF
− OpEx
−$91.3K −$1.74/SF
NOI
$517.4K $9.84/SF
Area
Thurston County, WA
Vacancy
5.40%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
15.00%
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%
$10,348,080
Cap Rate 7%
$7,391,486
Cap Rate 9%
$5,748,933
Alternative Uses
Best Use
Warehouse
$7.39M
$6.47M – $8.62M
NOI $517,404 @ 7.0% cap · market cap 8.21%
Second Best
Industrial
$6.09M
$5.33M – $7.11M
NOI $426,548 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$15.39M
$13.47M – $17.96M
NOI $1,077,475 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98501, WA
45,274
Population
19,969
Households
2.3
Avg Household Size
40
Median Age
48%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,297
Density / Sq Mi
$95,695
Median Household Income
$55,909
Median Earnings
$1,600
Median Rent
$485,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Airport Money Saver — 810 78th Ave SW, Tumwater, WA 98501
Frequently Asked Questions
What type of property is this?
Warehouse - Steel-framed warehouse with mezzanine and ample parking in Tumwater.
Where is this warehouse located?
The property is located at 7960 Center St SW Tumwater, WA.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: 52,000 Sq Ft Steel Framed Warehouse with 2,000 Sq Ft Mezzanine; 2.8 Acres (121,968 Sq Ft) of Leased Land; Built in 2008 with Steel Frame, Walls, and Roof
