607 Sleater Kinney Rd, Lacey, WA 98506
This exceptional 19.55-acre commercial land parcel presents a remarkable development opportunity in Lacey, Washington. Located at 607 Sleater Kinney Rd NE, 98506, this property boasts a highly desirable RM-18 zoning, permitting the construction of multifamily dwellings. The site encompasses two tax parcels (APN: 11817210100, 11817210200) and offers significant potential for a variety of configurations. Extensive pre-development work has already been completed, including a detailed site plan, design review package, and conceptual design review prepared by Thomas Architectural Studios. Comprehensive civil designs are also in place. Furthermore, numerous studies have been conducted, encompassing wetlands, traffic, soils, trees, topography, and geotechnical assessments. The City of Lacey has been supportive of this project, recognizing its potential to contribute to the community. This prime location offers convenient access to I-5, placing it within easy reach of Olympia. Nearby amenities include schools, shopping centers, Safeway, Lowe's, medical facilities, restaurants, and public transportation. The seller is flexible regarding the closing timeline, making this an attractive investment opportunity. The asking price is $5,300,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.