Commercial Real Estate Market in Lakewood, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
104 active listings and 1,360 off-market properties in Lakewood, WA. Commercial property asks $63/SF to buy and $23.50/SF/Yr to lease.
Market Trends
Lakewood, WA spans 31.4 square miles in Pierce County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lakewood, WA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Lakewood, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Lakewood, WA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Lakewood, WA runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 48.9%
- Open space 21.4%
- Civic 9.1%
- Commercial 8.8%
- Industrial 6.4%
- Special 0.2%
Largest Zones share of zoned land by district
Residential 3
Residential 4
Open Space And Recreation 1
Water Open Space Recreation 1
Public Institutional
Lakewood, WA zones 12,039 acres across 28 districts. Commercial zoning covers 8.8% of zoned land, residential 48.9%, open space 21.4% and industrial 6.4%. The largest single district is Residential 3 at 23.3%. For commercial buyers the practical constraint is that only 15.1% of land carries a commercial or industrial designation.
Residential 3 (R3)
The Residential district accommodate a range of detached and attached housing types, including middle housing, accessory dwelling units ADUs, and smaller and moderate scale multi family housing
Market overview
Demographics & Economy
Lakewood, WA has 96,484 residents in 41,972 households. Density runs 3,076 people per square mile. Median household income here is $73,166 and median gross rent $1,544 a month.
96,484
Population
41,972
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
88%
High-School Grad
31.4 sq mi
ZIP Area
3,076
Density / Sq Mi
$73,166
Median Household Income
$44,810
Median Earnings
$1,544
Median Rent
$396,915
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Arlington | — | $23.55 |
| Marysville | — | — |
| Everett | — | $19.21 |
Commercial property in Lakewood, WA asks $63/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lakewood?
Commercial property in Lakewood, WA asks an average of $63 per square foot. The 7 most recent recorded sales traded at a median of $307/SF.
How much does it cost to lease commercial space in Lakewood?
Asking lease rates in Lakewood, WA average $23.50 per square foot per year.
What zoning applies to commercial property in Lakewood?
Lakewood, WA zones 12,039 acres across 28 districts, of which 8.8% is commercial and 6.4% industrial. The largest single district is Residential 3 at 23.3% of zoned land. The Residential district accommodate a range of detached and attached housing types, including middle housing, accessory dwelling units ADUs, and smaller and moderate scale multi family housing Residential zoning covers 48.9% and open space 21.4%.
Where does Realmo's Lakewood market data come from?
Realmo compiles Lakewood, WA figures from 7 recent recorded sales, 51 active sale listings, 53 active lease listings, 1,360 tracked off-market properties, the current Lakewood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 51 active for-sale and 53 active for-lease listings in Lakewood, WA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 12,039 zoned acres across 28 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
