Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12221-12311 Pacific Hwy Lakewood, WA 98499
    Back to Search
    Property profile & analytics

    12221-12311 Pacific Hwy Lakewood, WA 98499

    View on Map
    • Retail properties & Spaces
    • 20,043 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 12221-12311 Pacific Hwy

    Property size
    20,043 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial development opportunity presents a rare chance to acquire a substantial parcel of land boasting unparalleled visibility. Located in Lakewood, Washington, this property features 430 feet of frontage on Pacific Highway SW and an impressive 360 feet of frontage along I-5, ensuring maximum exposure to a high volume of daily traffic. The site encompasses a total of 130,507 square feet, offering ample space for a variety of commercial ventures. Zoned C-1 by the City of Lakewood, the property allows for diverse commercial uses, providing flexibility for prospective buyers. While the site's size ranges from 20,043 to 130,507 square feet, depending on the development plan, it's important to note that a creek setback of approximately 250 feet restricts industrial uses. However, most commercial developments would only require a 68-72 foot setback. The property's Assessed Parcel Numbers (APNs) are 021911-8034; 021911-8035; 021911-8036; and 021911-8037. The asking price for this prime commercial land is $1,200,000. This is a truly unique opportunity to capitalize on a high-traffic location with significant development potential. The address is 12221-12311 Pacific Hwy SW, Lakewood, WA 98499.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.509
    Latitude
    47.1458

    Comparable in this City

    • Value Estimation by Request
      0.19 Acres

      9120 Bridgeport Way

      Restaurants • 8,187 SF
      9120 Bridgeport Way, Tacoma, WA 98499
      View Details
    • Value Estimation by Request
      25,026 SF

      10009 Way

      Retail properties & Spaces • 25,026 SF
      10009 Way, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      158,330 SF

      Pacific Hwy

      Retail properties & Spaces • 158,330 SF
      0 Pacific Hwy, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      1.23 Acres

      7505 52Nd Ave

      Land • 1.23 Acres
      7505 52Nd Ave, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      2,800 SF

      8306 Tacoma Mall Blvd

      Automotive properties • 2,800 SF
      8306 Tacoma Mall Blvd, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      47,920 SF

      6008 Mount Tacoma Dr

      Lifestyle centers • 47,920 SF
      6008 Mount Tacoma Dr, Lakewood, WA 98499
      View Details

    Similar Nearby for Sale

    • $625,000

      Commercial Lot Near Sound Transit

      Commercial lot suitable for retail or multifamily development.
      11618 Pacific Hwy SW, Lakewood, WA 98499
      View Details
    • $1,025,000
      2,916 SF

      Retail Property Near I-5

      Income property with excellent potential and long-term NNN tenants.
      12134 Pacific Hwy SW, Lakewood, WA 98499
      View Details
    • Contact for pricing

      Lakewood Land For Sale

      Land available in Lakewood, WA.
      5115 100Th St SW, Lakewood, WA 98499
      View Details
    • $1,650,000
      103,672 SF

      Lakewood Land Parcel For Sale

      Large land parcel available in Lakewood, Washington.
      3255 92Nd St S, Lakewood, WA 98499
      View Details
    • $750,000
      0.26 Acres

      Lakewood Commercial Corner Lot Investment

      High-traffic location, versatile layout, great potential.
      10601 Gravelly Lake Dr, Lakewood, WA 98499
      View Details
    • Contact for pricing

      Lakewood Retail/Office Space Available

      Retail or office space on Bridgeport Way near Wal-Mart.
      7521 Bridgeport Way W, Lakewood, WA 98499
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,640 SF

      Retail Space in Lakewood, WA

      Retail property available for lease in Lakewood, Washington.
      10222 S Tacoma Way, Lakewood, WA 98499
      View Details
    • Contact for pricing
      34,848 SF

      Land for Lease in Lakewood

      Land available for lease in Lakewood, Washington.
      11021 Pacific Hwy SW, Lakewood, WA 98499
      View Details
    • Contact for pricing
      215,622 SF

      Land for Lease in Lakewood

      Large land parcel available for lease in Lakewood, Washington.
      7121-7301 Bridgeport Way W, Lakewood, WA 98499
      View Details
    • Contact for pricing
      5,725 SF

      Lakewood Land Lot for Rent

      5,725 SF yard lot available for rent in Lakewood.
      10029 S Tacoma Way, Lakewood, WA 98499
      View Details
    • Contact for pricing
      2,700 SF

      Office/Retail Building with Ample Parking

      Office/retail building with strong demographics and excellent traffic.
      8510-8534 S Tacoma Way, Lakewood, WA 98499
      View Details
    • Contact for pricing
      9,100 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and convenient access.
      10019 59Th Ave SW, Lakewood, WA 98499
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12221-12311 Pacific Hwy
    Lakewood, WA 98499
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12221-12311 Pacific Hwy, Lakewood, WA, 98499
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!