Retail Space with High
For Sale
Contact for pricing
936 Pacific Ave, Tacoma, WA 98402
Retail space with 22–24 foot clear-height ceilings and full sprinkler coverage, ready for immediate occupancy.
Property Size6,800 SF
Price / SF$147.06
Days on Market1084
Property Features for 936 Pacific Ave
General Information
Standard status
Active
Size
6,800 SF
Property subtype
RETAIL
Listing Agency:
Lee & Associates Commercial Real Estate Services
(253) 383-8382
Listed By:
John Bauder, CCIM
(253) 238-0043
Source:
Moodyscre
Added: Oct 5, 2023
Changed: Sep 2
Last Checked: Sep 21 at 10:41AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This retail space is clean, clear, and ready for move-in. It features 22–24 foot clear-height ceilings and is fully sprinklered, supporting high-occupancy use.
Located at 936 Pacific Ave in Tacoma, it offers convenient access to I-705. The space sits near the 50 Yard line of Downtown Tacoma and is surrounded by businesses and parking. It is next to the Commerce Building and located in the North Parking Garage.
Located at 936 Pacific Ave in Tacoma, it offers convenient access to I-705. The space sits near the 50 Yard line of Downtown Tacoma and is surrounded by businesses and parking. It is next to the Commerce Building and located in the North Parking Garage.
Key Highlights
- Retail space with 22–24 ft clear‑height ceilings
- Fully sprinklered for high occupancy
- Ready for immediate occupancy
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
$81,824
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
8.18%
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%
$1,636,480
$1.6M
Cap Rate 7%
$1,168,914
$1.2M
Cap Rate 9%
$909,156
$909.2K
Market Conditions
NOI Build-Up for 6,800 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
$122.4K $18.00/SF
− Vacancy
−$5.5K −$0.81/SF
EGI
$116.9K $17.19/SF
− OpEx
−$35.1K −$5.16/SF
NOI
$81.8K $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%
$1,636,480
Cap Rate 7%
$1,168,914
Cap Rate 9%
$909,156
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,824 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,309 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,677
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Hotels & Casinos 16%
Shops & Services 6%
McDonald's
Dining
28,302 visits/mo
0.2 miles
Courtyard Tacoma Downtown
Hotels & Casinos
6,246 visits/mo
0.5 miles
Domino's Pizza
Dining
1,484 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
1,235 visits/mo
0.1 miles
Umpqua Bank
Shops & Services
1,137 visits/mo
0.4 miles
Demographics for 98402, WA
8,053
Population
4,788
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
6,711
Density / Sq Mi
$54,712
Median Household Income
$43,145
Median Earnings
$1,478
Median Rent
$558,100
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with 22–24 foot clear-height ceilings and full sprinkler coverage, ready for immediate occupancy.
Where is this retail space located?
The property is located at 936 Pacific Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Retail space with 22–24 ft clear‑height ceilings; Fully sprinklered for high occupancy; Ready for immediate occupancy
