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    10310 S Tacoma Way Lakewood, WA 98499
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    10310 S Tacoma Way Lakewood, WA 98499

    View on Map
    • Retail space
    • 18,835 SF
    • 1.50 lot acres
    For Lease
    $2,550,000
    View Listing →
    Lakewood Plaza Retail Opportunity For Lease
    $2,550,000

    Lakewood Plaza Retail Opportunity

    Retail space in Lakewood, WA with highway access.

    10310 S Tacoma Way, Lakewood, WA 98499
    View Listing
    Property ID
    US90-1158943
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,550,000
    Cap Rate Potential
    7.1%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Adorned Bridal & Formal Boutique / Clothing & Fashion Store
    • Salon Services Pro - Lakewood / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Flix Furnace Repair / HVAC Service / General Contractor
    • The Captain Crab / Restaurant
    • Shaniko Design / Department Store

    Property Details for 10310 S Tacoma Way

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.50 lot acres
    Property size
    18,835 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    219015018
    APU
    219015018

    Description

    Southgate Plaza, located in Lakewood, WA, offers a 6,057 square foot flex space for lease. This single-story, 22,035 square foot building, constructed in 1981 and renovated in 2001, sits on a 1.5-acre lot. The property features a mix of office (2,657 SF), warehouse (3,400 SF), and shop space, complemented by a 4,500 square foot fenced yard. Loading is facilitated by two front roll-up doors and a 48-inch rear door. Ample parking is provided with 96 spaces, and two drive-in bays are available. The property is zoned C2 and boasts a prime location at the end of Highway 512, offering easy access to Joint Base Lewis-McChord (JBLM), Interstate 5, and Highway 512. High visibility is ensured by pylon signage on South Tacoma Way/Pacific Highway, a major thoroughfare with over 38,000 cars passing daily. The property is classified as Class C and has a total of four suites. The address is Perkins Lane and South Tacoma Way, Pierce County, within the Lakewood submarket. The Assessor's Parcel Number (APN) is 0219015018.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,310,000
      ML approach
      $2,440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,720,000
      6.5%
      $2,510,000
      7%
      $2,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,850,000
      Market price range: $1.22M - $4.74M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.485
    Latitude
    47.1637
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $38,611
    $1,835,300
    $1,587,300
    $3,422,600
    -
    $1,835,300
    $1,587,300
    $3,422,600

    Comparable in this City

    • Value Estimation
      $3,320,000
      16,200 SF

      Borgen Blvd

      RETAIL STORES (PERSONAL SERVICES) • 16,200 SF
      Borgen Blvd, Lakewood, WA 98499
      View Details
    • Value Estimation
      $2,780,000
      13,188 SF

      9400th Bridgeport SW Way

      RETAIL STORES (PERSONAL SERVICES) • 13,188 SF
      9400th Bridgeport SW Way, Lakewood, WA 98499
      View Details
    • Value Estimation
      $1,165,000
      8,722 SF

      3820 Steilacoom SW Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,722 SF
      3820 Steilacoom SW Blvd, Tacoma, WA 98499-4552
      View Details
    • Value Estimation
      $2,960,000
      14,570 SF

      9122 Tacoma Way

      RETAIL STORES (PERSONAL SERVICES) • 14,570 SF
      9122 Tacoma Way, Lakewood, WA 98499-4406
      View Details
    • Value Estimation by Request
      550 SF

      10406 Tacoma Wayc

      RETAIL STORES (PERSONAL SERVICES) • 550 SF
      10406 Tacoma Wayc, Lakewood, WA 98499
      View Details
    • Value Estimation
      $1,935,000
      15,743 SF

      8604 Tacoma Way, Unit 8610

      RETAIL STORES (PERSONAL SERVICES) • 15,743 SF
      8604 Tacoma Way, Lakewood, WA 98499-4543
      View Details

    Similar Nearby for Sale

    • $1,995,000
      10,660 SF

      Former Bank Building on Tacoma Way

      Unique mid-century modern building suitable for retail or office use.
      8801 S Tacoma Way, Lakewood, WA 98499
      View Details
    • $559,000
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      Lakewood Retail Investment Opportunity

      Retail property in high-traffic Lakewood location with versatile layout.
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      View Details
    • Contact for pricing

      Lakewood Square Retail Center

      Multi-tenant shopping center anchored by Goodwill with long-term lease.
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      Lakewood Retail/Office Space Available

      Retail or office space on Bridgeport Way near Wal-Mart.
      7521 Bridgeport Way W, Lakewood, WA 98499
      View Details
    • $10,250,000
      48,214 SF

      Mixed-Use Investment Property in Lakewood

      Well-maintained mixed-use property with residential and retail units.
      10240 Bridgeport Way SW, Lakewood, WA 98499
      View Details
    • $975,000
      264 SF

      Lakewood Retail Property on Bridgeport

      Retail space in established corridor with redevelopment potential.
      7214 Bridgeport Way W, Tacoma, WA 98499
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,700 SF

      Office/Retail Building with Ample Parking

      Office/retail building with strong demographics and excellent traffic.
      8510-8534 S Tacoma Way, Lakewood, WA 98499
      View Details
    • Contact for pricing
      9,100 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and convenient access.
      10019 59Th Ave SW, Lakewood, WA 98499
      View Details
    • Contact for pricing
      2,390 SF

      Retail Space on Custer Rd

      2,390 SF retail space in prime location for lease.
      7402-7406 Custer Rd W, Lakewood, WA 98499
      View Details
    • $20 SF/Yr
      3,378 SF

      Historic Retail Space in Lakewood

      Iconic retail property at a busy Lakewood intersection.
      6122 Motor Ave NW, Lakewood, WA 98499
      View Details
    • $30 SF/Yr
      3,498 SF

      Lakewood Retail/Office Space Available

      Freestanding building near JBLM, available for retail or office.
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      View Details
    • Contact for pricing
      3,200 SF

      Lakewood Retail Space Available

      Retail space for rent in Lakewood, Washington, 1400 square feet.
      10223-15509 Gravelly Lake Dr SW, Lakewood, WA 98499
      View Details
    View Listing
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    Lakewood, WA 98499
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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.

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