6108 Mount Tacoma DrLakewood, WA 98499

Property Details for 6108 Mount Tacoma Dr

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.77 AC

Property size (Sq ft)

11,588 SF

Zone code

CBD

Property type

Retail properties

Property subtype

Retail space

APN

219022224

APU

219022224

Description

This exceptional 11,866 square foot, two-story shopping center in Lakewood, WA, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong 6.70% cap rate, the property generates a substantial net operating income (NOI) of $207,574. Anchored by Hess Bakery & Deli and a German Pastry Shop, both established tenants since 1980, the center also houses a salon, dance school, and counseling center. The property benefits from a prime location between two signalized intersections, enjoying high visibility with over 32,000 vehicles passing daily, and significant foot traffic from a nearby 60,000 square foot office building. All tenants have annual CPI rent increases, ensuring consistent income growth. The 33,541 square foot lot provides ample space, including 49 parking spaces. Situated near Joint Base Lewis-McChord, the property benefits from a large, affluent residential population within a five-mile radius. Lease extensions are currently under negotiation with several tenants, further solidifying the long-term value of this investment. The asking price is $3,100,000, representing a price per square foot of $261. This well-maintained property, built in 1980, offers a stable and lucrative investment opportunity with significant upside potential.

Location Insight

City

Lakewood

County

Pierce

State

Washington

Latitude

47.1699

Longitude

-122.519

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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