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    2410 84Th St Lakewood, WA 98499

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    2410 84Th St Lakewood, WA 98499

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    • Neighborhood centers
    • 69,868 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lakewood Cinema Plaza / Cinema / Theater & Performing Art Venue
    • Regal Lakewood / Cinema / Theater & Performing Art Venue

    Property Details for 2410 84Th St

    Property size
    69,868 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Lakewood Cinema Plaza, located at 2410 S 84th St, Lakewood, WA 98499, presents a significant retail opportunity in Pierce County. This established strip center offers a total of 69,868 square feet of retail space, with a substantial 69,768 square feet currently available for lease. The property is ideally suited for multiple tenants, offering flexible space options ranging from a minimum of 1,050 square feet to a maximum contiguous space of 25,192 square feet. This allows for businesses of various sizes to find a suitable location within this vibrant commercial center. The property's strategic location in Lakewood, Washington provides excellent visibility and accessibility, ensuring high foot traffic and potential for strong business growth. The address is easily accessible from major roadways, offering convenient access for both customers and employees. This is an exceptional opportunity to establish or expand your business in a thriving retail environment. The property is classified as a retail strip center and offers five available spaces. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.468
    Latitude
    47.1796

    Comparable in this City

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      47,920 SF

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    • Value Estimation by Request
      6.79 Acres

      9314 Bridgeport Way

      Lifestyle centers • 6.79 Acres
      9314 Bridgeport Way, Lakewood, WA 98499
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    • Value Estimation
      $1,130,000
      11,664 SF

      Borgen Blvd

      SHOPPING CENTER, STRIP CENTER • 11,664 SF
      Borgen Blvd, Lakewood, WA 98499
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    • Value Estimation
      $630,000
      6,474 SF

      5422 74th W St

      SHOPPING CENTER, STRIP CENTER • 6,474 SF
      5422 74th W St, Lakewood, WA 98499-7900
      View Details
    • Value Estimation
      $1,480,000
      3,968 SF

      5211 100th SW St

      SHOPPING CENTER, STRIP CENTER • 3,968 SF
      5211 100th SW St, Lakewood, WA 98499-3814
      View Details
    • Value Estimation
      $5,230,000
      28,680 SF

      6020 Main SW St

      SHOPPING CENTER, STRIP CENTER • 28,680 SF
      6020 Main SW St, Tacoma, WA 98499-6506
      View Details

    Similar Nearby for Sale

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      Lakewood Square Retail Center

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      Retail Property Near I-5

      Income property with excellent potential and long-term NNN tenants.
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      Fully Occupied Retail Strip Investment

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      Lakewood Square Retail Center

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    Similar Nearby for Lease

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      19,640 SF

      Retail Space in Lakewood, WA

      Retail property available for lease in Lakewood, Washington.
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    • Contact for pricing
      2,700 SF

      Office/Retail Building with Ample Parking

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      Retail Space in High-Traffic Area

      Retail space with high visibility and convenient access.
      10019 59Th Ave SW, Lakewood, WA 98499
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    • $4,267 /Mo
      3,200 SF

      Lakewood Commercial Suite For Rent

      Versatile 3,200 SF commercial suite suitable for various businesses.
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    • $17 SF/Yr

      Former Bank Building with Mezzanine

      Former bank building featuring high ceilings and drive-through lanes.
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    • Contact for pricing
      2,390 SF

      Retail Space on Custer Rd

      2,390 SF retail space in prime location for lease.
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    2410 84Th St
    Lakewood, WA 98499
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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