Retail Property with Established
For Sale
$1,500,000
8222 Tacoma Way, Lakewood, WA 98499
A long-term furniture showroom tenant occupies the commercial space and pays its own utility expenses.
Property Size10,956 SF
Lot Size1.22 Acres
Price / SF$136.91
Days on Market15
Property Features for 8222 Tacoma Way
General Information
Standard status
Active
Size
10,956 SF
Lot size
1.22 Acres
Property subtype
Commercial
Zoning
C2
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1929
Buildings
2
Tenancy
Single
Listing Agency:
Kelly Right RE of Seattle LLC
Listed By:
Darlene Nguyen-Chapman · License #106761
(206) 525-5235
Source:
Century21northhomes
Added: Oct 13
Changed: Oct 27
Last Checked: Oct 26 at 4:41PM
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 retail property in Tacoma contains 10,956 SF of commercial space and has a long-term tenant operating a furniture showroom. The tenant is responsible for utilities, and the building dates to 1929. A sewer connection serves the property.
The site is zoned C2 and has about 98 feet of frontage. Two parcels are offered together, with a combined area of 52,920 square feet, or 1.22 acres. The property is in an established industrial corridor among industrial, warehouse, and commercial users, with access to Interstate 5 and SR 99. South Tacoma Way Mall is nearby.
The site is zoned C2 and has about 98 feet of frontage. Two parcels are offered together, with a combined area of 52,920 square feet, or 1.22 acres. The property is in an established industrial corridor among industrial, warehouse, and commercial users, with access to Interstate 5 and SR 99. South Tacoma Way Mall is nearby.
Key Highlights
- 10,956 SF of commercial space
- Combined parcel area of 52,920 square feet, or 1.22 AC
- C2 zoning and about 98 feet of frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,975
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,899,500
$1.9M
Cap Rate 7%
$1,356,786
$1.4M
Cap Rate 9%
$1,055,278
$1.1M
Market Conditions
NOI Build-Up for 10,956 SF
Gross rent
$157.8K $14.40/SF
− Vacancy
−$22.1K −$2.02/SF
EGI
$135.7K $12.38/SF
− OpEx
−$40.7K −$3.72/SF
NOI
$95.0K $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 Rate 5%
$1,899,500
Cap Rate 7%
$1,356,786
Cap Rate 9%
$1,055,278
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.58M
NOI $94,975 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.96M
$2.59M – $3.45M
NOI $207,137 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
47k
Monthly Visits Nearby
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
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - A long-term furniture showroom tenant occupies the commercial space and pays its own utility expenses.
Where is this retail space located?
The property is located at 8222 Tacoma Way Lakewood, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,956 SF of commercial space; Combined parcel area of 52,920 square feet, or 1.22 AC; C2 zoning and about 98 feet of frontage
