6528 Capitol BlvdTumwater, WA 98501

For Sale
$1,990,000

7,500 SF Shopping Center, Value-Add

Overview

Added:
Dec 11, 2024
Days on market:
93
This 7,500 square foot shopping center in Tumwater, WA, presents a compelling owner-user or value-add opportunity. Located at 6528 Capitol Blvd SE, 98501, this single-story, 1992-built property sits on a 23,958 square foot lot and currently boasts 31% occupancy across four units. The asking price is $1,990,000 ($265/SF). Two of the four tenants are on month-to-month leases, providing flexibility for an owner-user to occupy up to 69% (5,160 SF) while maintaining rental income from the remaining space. The property benefits from a prime location in a densely populated residential area, with over 2,763 homes and an average household income of $89,377 within a one-mile radius. Excellent accessibility is ensured by its proximity to I-5 and its location on Capitol Blvd SE, a high-traffic thoroughfare with 14,175 vehicles per day. The below-market rent of two tenants offers potential for future rental income increases. Within a five-mile radius, the area boasts a population density of 119,797 with an average household income of $115,539. This combination of location, flexibility, and below-replacement-cost pricing makes this a strong investment opportunity.

Highlights

  • Owner-user or value-add opportunity: Fully occupied with two month-to-month tenants; allows owner-occupancy of up to 5,160 SF (69%).
  • Priced below replacement cost at $265/SF.
  • Below-market rents offer significant upside potential upon lease renewal.
  • Excellent freeway access via I-5 and Capitol Blvd.
  • Located in a densely populated residential area with high foot traffic.
  • Strong demographics: 119,797 population and $115,539 average household income within a 5-mile radius.

Property Details for 6528 Capitol Blvd

Property type
Lifestyle centers, Power centers
Square Feet
7,500 SF
Year Built
1992
Buildings
1
Stories
1
Units
4

Location Insight

City
Tumwater
County
Thurston
State
Washington
Latitude
46.989065109149
Longitude
-122.9071128593
6528 Capitol Blvd, Tumwater, Washington

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6528 Capitol Blvd
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