Pacific Hwy Lakewood, WA 98499
- Retail properties
- 158,330 SF
Current Use by Public Records
- Retail properties
Property Details for 0 Pacific Hwy
- Property size
- 158,330 SF
- Property type
- Retail properties
Description
This exceptional 9.82-acre property at 11013 Pacific Highway SW, Lakewood, WA (Seattle MSA), presents a unique investment opportunity. The site features a substantial 158,330 square foot building, formerly occupied by Costco, with 128,280 square feet currently vacant. A separately-parceled O'Reilly Auto Parts building is also included. Its ideal location between Interstate 5 and Pacific Highway SW offers unparalleled access to a dense, affluent population exceeding one million people within a 30-minute radius. This demographic boasts an average annual household income over $94,000 and spends over $9 billion annually on retail goods. The existing structure, with its large, open floor plan and high ceilings, is perfectly suited for adaptive reuse as a Neighborhood Fulfillment Center (NFC), capitalizing on the significant online retail spending in the area (17% of total retail spending). Ample parking further enhances the property's appeal in the land-constrained Seattle MSA. This property offers a compelling combination of size, location, and potential for significant return on investment.
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
- Lakewood
- County
- Pierce
- State
- Washington
- Longitude
- -122.504
- Latitude
- 47.1494
