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    17423 Cyn Pkwy Tacoma, WA 98446
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    17423 Cyn Pkwy, Tacoma, WA 98446

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    • Retail properties & Spaces
    • 1.47 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 17423 Cyn Pkwy

    Lot size
    1.47 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    Two exceptional land parcels remain available for sale within the thriving Frederickson Town Center, located at 17423 Canyon Pkwy E, Tacoma, WA 98446, in Pierce County. These highly visible pads, ranging from 1.47 to 1.71 acres, offer a unique opportunity for development in a rapidly growing area. The property benefits from its prominent location along Canyon Road, ensuring excellent visibility and accessibility for businesses. Established neighboring tenants include MOD Pizza, Olympic Sport and Spine, and Heartland Dental, creating a strong and diverse commercial environment. This presents a compelling investment opportunity for developers seeking to capitalize on the area's robust growth. The land is available for outright sale, allowing for immediate development. The property is zoned for medical and retail uses, providing flexibility for a variety of development options. Interested parties should inquire for detailed information regarding zoning regulations and development possibilities. The asking price for these exceptional parcels is $700,000. Don't miss this chance to secure a prime location in a flourishing commercial center.

    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
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.357
    Latitude
    47.0982

    Comparable in this City

    • Value Estimation by Request
      1,468 SF

      421 Pioneer

      MEDICAL BUILDING
      421 Pioneer, Tacoma, WA 98446
      View Details
    • Value Estimation by Request
      3,500 SF

      17810 Canyon Rd

      Individual retail properties
      17810 Canyon Rd, Puyallup, WA 98446
      View Details
    • Value Estimation by Request
      2.35 Acres

      11708 Cyn Rd

      Land
      11708 Cyn Rd, Tacoma, WA 98446
      View Details
    • Value Estimation by Request
      2.06 Acres

      3519 112Th St

      Land
      3519 112Th St, Tacoma, WA 98446
      View Details
    • Value Estimation
      $685,000
      11,583 SF

      5001 112th E St

      HOMES (RETIRED, NURSING)
      5001 112th E St, Tacoma, WA 98446-5307
      View Details
    • Value Estimation
      $1,345,000
      2,353 SF

      4905 128th E St

      AUTO REPAIR, GARAGE
      4905 128th E St, Tacoma, WA 98446-4913
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      1.35 Acres Versatile Tacoma Land

      1.35 acres zoned RSep with potential for residential/commercial use.
      5021 128Th St E, Tacoma, WA 98446
      View Details
    • $1,350,000
      89,734 SF

      Industrial Land Parcel For Sale

      2.06 acre industrial land parcel in Employment Corridor.
      3519 112Th St E, Tacoma, WA 98446
      View Details
    • Contact for pricing

      5.8+ Acres Zoned CE Land

      Prime location with easy highway access and multiple uses.
      4810 112Th St E, Tacoma, WA 98446
      View Details
    • $6,750,000

      9.36-Acre Development Site

      9.36-acre site in Pierce County, zoned for high-density development.
      5114 112Th St E, Tacoma, WA 98446
      View Details
    • $5,500,000
      16,750 SF

      Former Rite Aid in Puyallup

      Former Rite Aid on a hard corner with high traffic.
      11220 Canyon Rd E, Puyallup, WA 98446
      View Details
    • $3,900,000

      Apartment Site Near Frederickson Center

      Apartment site with potential for 125 units near town center.
      17521 50Th Avenue Ct E, Tacoma, WA 98446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      79,410 SF

      Puyallup Land for Lease

      Land available for lease in Puyallup, Washington.
      13922 Canyon Rd E, Puyallup, WA 98446
      View Details
    • Contact for pricing
      42,689 SF

      Tacoma Land Parcel For Rent

      Land parcel available for rent in Tacoma, Washington.
      38th 38Th Ave E, Tacoma, WA 98446
      View Details
    • Contact for pricing

      Commercial Land for Lease

      3.61 +/- acres available for lease or build-to-suit.
      17911 52Nd Ave E, Tacoma, WA 98446
      View Details
    • $5,245 /Mo
      2,248 SF

      Versatile Commercial Space in Tacoma

      2248 sq ft suite with offices and fenced yard.
      5324 84Th St E, Tacoma, WA 98446
      View Details
    • Contact for pricing
      3,909 SF

      Retail Space in Puyallup, WA

      Retail space available for lease in Puyallup, Washington.
      11012 Canyon Rd E, Puyallup, WA 98446
      View Details
    • Contact for pricing

      Commercial Land for Lease

      IOS yard available for lease with water and power.
      19111 38Th Ave E, Tacoma, WA 98446
      View Details
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    Tacoma, WA 98446
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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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