Tenant-Occupied Auto
8220 S Tacoma Way, Lakewood, WA 98499
For Sale
$710,000
The occupant covers utility costs, and the building has a sewer connection described as being in good condition.
Property Size2,584 SF
Lot Size0.59 Acres
Price / SF$274.77
Days on Market26
Property Features for 8220 S Tacoma Way
General Information
Standard status
Size
Lot size
Zoning
Site & Location
Highway Access
Road Access
Utilities to Site
Tenancy & Operations
Currently Operating
Tenant in Place
Real Estate Included
Additional Details
Automotive Uses
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Tenancy
Listing Agency:
Kelly Right RE of Seattle LLC
(206) 525-5235
Listed By:
Darlene Nguyen-Chapman · License WA #106761
(206) 288-9119
Source:
Exprealty
Added: Oct 20
Changed: Nov 12
Last Checked: Nov 12 at 2:47PM
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 Kelly Right RE of Seattle LLC
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Investment Insights
Based on property information with market context.
This 2,584-square-foot auto shop is occupied by a long-term operator. The tenant pays the utility costs, and the property has a sewer connection described as being in good condition. The site includes about 25,488 square feet of land, with approximately 98 feet of frontage, and is zoned C2.
The property has access to Interstate 5 and SR 99. Nearby uses include industrial, warehouse, and commercial businesses, and South Tacoma Way Mall is also close by.
The property has access to Interstate 5 and SR 99. Nearby uses include industrial, warehouse, and commercial businesses, and South Tacoma Way Mall is also close by.
Key Highlights
- Long‑term auto shop tenant in place
- 2,584‑square‑foot building on about 25,488 square feet of land
- Approximately 98 feet of frontage; zoned C2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,986
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,720
$599.7K
Cap Rate 7%
$428,371
$428.4K
Cap Rate 9%
$333,178
$333.2K
Market Conditions
NOI Build-Up for 2,584 SF
Gross rent
$46.5K $18.00/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$42.8K $16.58/SF
− OpEx
−$12.9K −$4.97/SF
NOI
$30.0K $11.60/SF
Area
Pierce County, WA
Vacancy
7.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,720
Cap Rate 7%
$428,371
Cap Rate 9%
$333,178
Alternative Uses
Best Use
Industrial
$428.4K
$374.8K – $499.8K
NOI $29,986 @ 7.0% cap · market cap 4.22%
Second Best
Retail
$320.0K
$280.0K – $373.3K
NOI $22,400 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$697.9K
$610.7K – $814.2K
NOI $48,854 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
47k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 31%
Home Improvements & Furnishings 1%
Taco Bell
Dining
14,409 visits/mo
0.2 miles
Chevron
Shops & Services
10,479 visits/mo
0.5 miles
Toyota of Tacoma-Sales
Shops & Services
5,865 visits/mo
0.3 miles
Les Schwab Tire Center
Shops & Services
4,427 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
4,119 visits/mo
0.2 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
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
Similar Off Market Nearby
- Tacoma Towing LLC — 9118 39th Ave SW, Lakewood, WA 98499
- Gene's Towing — 9212 S Tacoma Way, Lakewood, WA 98499
- UP auto sales & service — 9313 S Tacoma Way, Lakewood, WA 98499
- Rule Garage — 3886 Steilacoom Blvd SW, Lakewood, WA 98499
- US Auto Repair — 3865 Steilacoom Blvd SW, Lakewood, WA 98499
Frequently Asked Questions
What type of property is this?
Auto shop - The occupant covers utility costs, and the building has a sewer connection described as being in good condition.
Where is this auto shop located?
The property is located at 8220 S Tacoma Way Lakewood, WA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Long‑term auto shop tenant in place; 2,584‑square‑foot building on about 25,488 square feet of land; Approximately 98 feet of frontage; zoned C2
