Mixed-Use Retail and Residential
For Sale
$1,699,000
9618 Pacific, Tacoma, WA 98444
Property offers 10 residential units plus a minimart and convenience store with street frontage along Pacific Avenue.
Property Size4,876 SF
Price / SF$348.44
Days on Market240
Property Features for 9618 Pacific
General Information
Standard status
Active
Size
4,876 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
10
Building Details
Year Built
1942
Listing Agency:
Engel & Voelkers Seattle DT
Listed By:
Roberto Laing
(206) 623-9697
Source:
Skylineproperties
Added: Jan 6
Changed: Aug 24
Last Checked: Sep 1 at 8:59PM
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 Engel & Voelkers Seattle DT
Investment Insights
Based on property information with market context.
Located at 9618 Pacific Ave in Tacoma, WA 98444, this mixed-use property combines 10 residential units with street-facing retail comprised of a minimart and convenience store component. The arrangement creates multiple income streams within a single building, with the residential units positioned for leasing activity and stabilization.
The commercial frontage provides street presence along the Pacific Avenue corridor. The property also includes ample on-site parking and benefits from proximity to major arterials, as well as nearby retail and daily services serving the surrounding neighborhood.
For investors and owner-operators, the opportunity centers on managing both the residential and commercial components to support ongoing performance, with upside tied to leasing and management of the units.
The commercial frontage provides street presence along the Pacific Avenue corridor. The property also includes ample on-site parking and benefits from proximity to major arterials, as well as nearby retail and daily services serving the surrounding neighborhood.
For investors and owner-operators, the opportunity centers on managing both the residential and commercial components to support ongoing performance, with upside tied to leasing and management of the units.
Key Highlights
- Mixed‑use property with 10 residential units plus minimart and convenience store with street frontage on Pacific Avenue
- Generates income from both residential leasing and the minimart/convenience store commercial frontage
- Ample on‑site parking provided
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
$70,355
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
4.14%
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%
$1,407,100
$1.4M
Cap Rate 7%
$1,005,071
$1.0M
Cap Rate 9%
$781,722
$781.7K
Market Conditions
NOI Build-Up for 4,876 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
$97.7K $20.04/SF
− Vacancy
−$3.9K −$0.80/SF
EGI
$93.8K $19.24/SF
− OpEx
−$23.5K −$4.81/SF
NOI
$70.4K $14.43/SF
Area
Tacoma, WA
Vacancy
4.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,407,100
Cap Rate 7%
$1,005,071
Cap Rate 9%
$781,722
Alternative Uses
Best Use
Specialty Retail
$1.01M
$879.4K – $1.17M
NOI $70,355 @ 7.0% cap · market cap 4.14%
Second Best
Retail
$838.2K
$733.4K – $977.9K
NOI $58,673 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,912 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Property offers 10 residential units plus a minimart and convenience store with street frontage along Pacific Avenue.
Where is this apartment building located?
The property is located at 9618 Pacific Tacoma, WA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Mixed‑use property with 10 residential units plus minimart and convenience store with street frontage on Pacific Avenue; Generates income from both residential leasing and the minimart/convenience store commercial frontage; Ample on‑site parking provided
