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12811 Pacific Ave S

575 SF Retail Building Tacoma, WA 98444 $1,530,000 ($2,661/SF) 6.03% Cap Rate

Retail Space Washington Tacoma 12811 Pacific Ave S, Tacoma, WA 98444

Executive Summary

This property features high-quality new construction with a drive-thru, an Absolute NNN lease, and built-in annual rent increases for inflation protection. With 16 years remaining in the firm lease term, the investment offers stable cash flow. The location benefits from excellent access and visibility on Pacific Ave Tacoma, with approximately 40,000 vehicles per day and convenient access to Hwy-512 and I-5. Situated in a highly dense trade area with a variety of national and local retailers, recreational facilities, schools, and residential neighbourhoods, it is also close to Pacific Lutheran University with a significant student population. The presence of numerous national retailers in the area highlights the vibrant retail environment. Additionally, Washington's lack of state income tax adds to its appeal for businesses and potential employees. The specific Gravity Coffee location at 12811 Pacific Ave S, Tacoma, enjoys an excellent Google customer rating of 4.6, reflecting positive reviews from satisfied customers.

Attachments

Marketing Package Gravity Coffee 09182024

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
575 SF
Building Class
C
Year Built
2020
Price
$1,530,000
Price Per SF
$2,661
Cap Rate
6.03%
NOI
$92,277
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
0.38 AC
Zoning
ROC
Parking
4 Spaces (8 Spaces per 1,000 SF Leased)

Amenities

  • Drive Thru

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Accommodation and Food Services
  • 575 SF
  • -
  • Triple Net
  • -

Gravity is a company fueled by passion and creativity that has been revolutionizing the drive-thru coffee experience since opening their first location in 2016. Their keen attention to detail, loyalty to their consumers, and upbeat work environment are major contributors to their continued success. Their team members are the driving force behind their business. They are committed to delivering consistently amazing experiences to their customers. Gravity’s demonstrated success in one of the most competitive coffee markets in the United States has enabled them to continue expanding at an incredible rate. They are actively developing over 100 locations across the Pacific Northwest and other states, such as Arizona, Colorado, Idaho, Nevada, Oregon, Texas, Florida, and Utah. The core values of simplicity, consistent and reliable product quality, and efficiency in customer service set them apart, providing the amazing opportunity of upward growth for both their business and employees.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Accommodation and Food Services 575 SF - Triple Net -
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Walk Score®
Very Walkable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
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, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Starbucks
Bank of America
KeyBank
CrossFit
Bigfoot Java

PROPERTY TAXES

Parcel Number 031916-6017 Improvements Assessment $372,300
Land Assessment $325,800 Total Assessment $698,100

PROPERTY TAXES

Parcel Number
031916-6017
Land Assessment
$325,800
Improvements Assessment
$372,300
Total Assessment
$698,100
(248) 770-9974

Contact

  • Listing ID: 32466628

  • Date on Market: 7/15/2024

  • Last Updated:

  • Address: 12811 Pacific Ave S, Tacoma, WA 98444

More public record information on 12811 Pacific Ave S, Tacoma, WA 98444

The Retail Property at 12811 Pacific Ave S, Tacoma, WA 98444 is currently available for sale. Contact KW Commercial for more information.

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12811 Pacific Ave S
(248) 770-9974 x

12811 Pacific Ave S

Harris Niazi

(248) 770-9974

(248) 770-9974

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