14918 Pacific AveTacoma, WA 98444

Property Details for 14918 Pacific Ave

Year built

1974

Lot size

7.62 AC

Property size (Sq ft)

89,002 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional 89,002 square foot retail center in Spanaway, WA, presents a compelling investment opportunity. Located at 14918 Pacific Ave S, 98444, this property boasts a strong 89% occupancy rate, generating a current NOI of $414,002 and a 3.60% cap rate. Significant upside potential exists, with a pro-forma NOI projected at $1,221,877 and a pro-forma cap rate of 10.63%. Built in 1974, the property sits on a 7.62-acre lot zoned Town Center (TCTR), offering ample parking (4.16 spaces per 1,000 sq ft) and excellent visibility. The property features pylon and building signage, enhancing its marketing potential. The center benefits from its location in a growing suburban community near Joint Base Lewis McChord, experiencing infrastructure improvements and increased demand for retail services. The property is debt-free and clear, with a total taxable value of $7,865,200.00 and a list price of $11,500,000 ($129 per square foot). The 2022 property tax was $78,151.00. This is a rare opportunity to acquire a well-positioned retail center with substantial growth potential in a thriving market. Parcel numbers are 0319212049 and 0319212050.

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.1212

Longitude

-122.437

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