Current Use by Public Records
- Retail properties & Spaces
Property Details for 17810 Canyon Rd
- Year built
- 2024
- Lot size
- 0.64 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 3,500 square foot, single-tenant storefront in Puyallup, Washington, leased to Sherwin-Williams. The property, built in 2024, sits on a 0.64-acre lot and boasts a 100% occupancy rate with a lease commencement date of September 20, 2024, and an expiration date of August 1, 2034. The 10-year initial lease term includes three 5-year options, with a built-in 10% rent increase every five years, beginning in year six. The current Net Operating Income (NOI) is $213,195, resulting in a 5.50% cap rate. Located at 17810 Canyon Rd E, Tacoma, WA 98446, this property benefits from its position in a high-traffic area (approximately 65,000 vehicles per day) within the Frederickson Place center, a retail gateway to a major industrial development site in the Puget Sound area. The asking price is $3,876,000, translating to $1,107.43 per square foot. Common area expenses, paid by the landlord, average approximately $150 per month. This is a rare opportunity to acquire a strong, net-leased investment with a creditworthy tenant in a high-growth market. The property is part of a larger retail center and benefits from high visibility and accessibility.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Puyallup
- County
- Pierce
- State
- Washington
- Longitude
- -122.358
- Latitude
- 47.0945
