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    14918 Pacific Ave Spanaway, WA 98387
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    14918 Pacific Ave, Spanaway, WA 98387

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    • Retail properties & Spaces
    • 89,002 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 14918 Pacific Ave

    Year built
    1974
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property in Spanaway, Washington, presents a compelling investment opportunity. Located at 14918 Pacific Ave S, 98387, this 89,002 square foot center sits on a 7.62-acre lot and offers multiple tenancy options. Currently, there are 13,852 square feet of vacant space available, divisible into units as small as 800 square feet, with a maximum contiguous space of 27,359 square feet. The property boasts ample parking with a ratio of 4.16 spaces per 1,000 square feet. Built in 1974, the center is zoned Town Center (TCTR) and benefits from its location in a growing suburban community near Joint Base Lewis McChord. Spanaway's expanding population and ongoing infrastructure improvements, including road expansions and utility upgrades, create a strong demand for retail and service businesses. The property's prime location and diverse range of potential uses make it an ideal investment for businesses seeking high visibility and access to a substantial customer base. The property's APN is 0319212049

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spanaway
    County
    Pierce
    State
    Washington
    Longitude
    -122.418
    Latitude
    47.0741

    Comparable in this City

    • Value Estimation by Request
      65,293 SF

      20509 Mountain Hwy

      Lifestyle centers
      20509 Mountain Hwy, Spanaway, WA 98387
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    • Value Estimation
      $5,110,000
      43,894 SF

      10409 Cyn E Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      10409 Cyn E Rd, Spanaway, WA 98387
      View Details
    • Value Estimation
      $1,270,000
      14,400 SF

      3301 235th E St

      AUTO REPAIR, GARAGE
      3301 235th E St, Spanaway, WA 98387-7046
      View Details
    • Value Estimation
      $740,000
      5,864 SF

      23403 Mtn E Hwy

      AUTO REPAIR, GARAGE
      23403 Mtn E Hwy, Spanaway, WA 98387-7415
      View Details
    • Value Estimation
      $615,000
      2,813 SF

      20122 Mtn E Hwy

      CONVENIENCE STORE (W/FUEL PUMP)
      20122 Mtn E Hwy, Spanaway, WA 98387-8408
      View Details
    • Value Estimation by Request
      4,440 SF

      17305 Pacific S Ave

      FINANCIAL BUILDING
      17305 Pacific S Ave, Spanaway, WA 98387-8209
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Former Bingo Hall with Parking

      4,200 SF building with rental house and parking.
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      7,571 SF

      Spanaway Showroom and Service Garage

      7,571 SF building with showroom and service garage.
      16002 Pacific Ave S, Spanaway, WA 98387
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    • $508,600
      4,800 SF

      Retail Space on Pacific Avenue

      Retail location with high exposure and ample parking.
      18823 Pacific Ave S, Spanaway, WA 98387
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      High-Traffic Automotive/Retail Opportunity

      Former auto showroom with service bays on Pacific Avenue.
      16002 Pacific Ave S, Spanaway, WA 98387
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    • $5,200,000

      Fully Leased Spanaway Office Buildings

      Four single-story, multi-tenant office buildings for sale.
      16204 Pacific Ave S, Spanaway, WA 98387
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    • $950,000

      Spanaway Commercial Land For Sale

      Commercial land for sale, tenant occupied, UCOR zoning.
      16114 Pacific Ave S, Spanaway, WA 98387
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,204 to 2,234 SqFt.
      20220 Mountain Hwy E, Spanaway, WA 98387
      View Details
    • Contact for pricing

      High-Exposure Retail Space in Spanaway

      Retail space with high visibility and ample parking.
      17415 Pacific Ave S, Spanaway, WA 98387
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    • $3,000 /Mo
      400 SF

      Auto Sales Lot For Rent

      Auto sales lot with high traffic and office space.
      16822 Pacific Ave S, Spanaway, WA 98387
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    • Contact for pricing
      1,200 SF

      Retail Space Near Fred Meyer

      Retail space shadow-anchored by Fred Meyer with high visibility.
      22306 Mountain Hwy E, Spanaway, WA 98387
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    • Contact for pricing
      3,127 SF

      Retail Space Available For Lease

      Retail space available for lease in Spanaway, Washington.
      17519 Pacific Ave S, Spanaway, WA 98387
      View Details
    • $13,382 /Mo
      8,921 SF

      Retail Space in Anchored Center

      Retail space available in high-volume Fred Meyer anchored center.
      22219 Mountain Hwy E, Spanaway, WA 98387
      View Details
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    Spanaway, WA 98387
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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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