5744 26th St Tacoma, WA 98407-2409

Property Details for 5744 26th St

Year built

1983

Construction

WOOD FRAME

Lot size

0.52 lot acres

Property size

1,248 SF

Zone code

CCX

Property type

Grocery and convenience stores

APN

7045000311

APU

7045000311

Description

This exceptional investment opportunity presents a 1,650 square foot Shell gas station located at 5744 N 26th St, Tacoma, WA 98407. The property sits on a 22,500 square foot lot and boasts a prime location within the Westgate South Shopping Center, alongside established retailers such as Big Lots and Planet Fitness. Currently operating under a 50-year absolute NNN lease (commencing April 26, 1983, expiring April 30, 2033), the lease features a remaining term of 8.4 years with a 10% rent bump in April 2028. The current annual Net Operating Income (NOI) is $96,000, representing a 5.85% cap rate on the asking price of $1,640,000. The property benefits from high visibility, situated at a major intersection with over 23,000 vehicles per day. The tenant, a joint venture between Shell Oil and Jackson Food Stores, is an investment-grade, corporate-backed entity with a long history at this location. The site includes 5 parking spaces and is zoned for Commercial Mixed Use. This stabilized investment offers a compelling combination of strong tenant, below-market rent, and significant upside potential due to the lease terms and the property's strategic location near major transportation arteries and popular attractions, including Point Defiance Park and Zoo. The property's proximity to a high-density residential area with nearly 188,000 residents within a five-mile radius further enhances its value. Additional national tenants are currently negotiating leases within the shopping center, promising continued growth and stability.

Location Insight

City

Tacoma

County

Pierce

State

Washington

Longitude

-122.515

Latitude

47.2707

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments