14918 Pacific Ave Tacoma, WA 98444
- Retail properties
- 89,002 SF
- 7.62 lot acres
Current Use by Public Records
- Spanaway Goodwill / Non-Profit Organization / Thrift Store
- UPS Access Point Locker / Shipping And Mailing Service / Mailing Service
Property Details for 14918 Pacific Ave
- Year built
- 1974
- Lot size
- 7.62 lot acres
- Property size
- 89,002 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional 89,002 square foot retail center in Spanaway, WA, presents a compelling investment opportunity. Located at 14918 Pacific Ave S, 98444, this property boasts a strong 89% occupancy rate, generating a current NOI of $414,002 and a 3.60% cap rate. Significant upside potential exists, with a pro-forma NOI projected at $1,221,877 and a pro-forma cap rate of 10.63%. Built in 1974, the property sits on a 7.62-acre lot zoned Town Center (TCTR), offering ample parking (4.16 spaces per 1,000 sq ft) and excellent visibility. The property features pylon and building signage, enhancing its marketing potential. The center benefits from its location in a growing suburban community near Joint Base Lewis McChord, experiencing infrastructure improvements and increased demand for retail services. The property is debt-free and clear, with a total taxable value of $7,865,200.00 and a list price of $11,500,000 ($129 per square foot). The 2022 property tax was $78,151.00. This is a rare opportunity to acquire a well-positioned retail center with substantial growth potential in a thriving market. Parcel numbers are 0319212049 and 0319212050.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.437
- Latitude
- 47.1212
