Retail Business for Sale in Tacoma, WA

  • Price: $3.5M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Tacoma, WA 98444
  • Size: 9,424 SF

Description

Retail Investment or Owner/User Purchase Opportunity with Available Space for Lease 116th Steele Street Center is a ±9,424 SF retail asset is positioned on a ±1.53-acre parcel in Tacoma, WA, just minutes from Joint Base Lewis-McChord and Interstate 5. This highly visible, well-maintained center features a strong mix of long-term, service-oriented tenants and benefits from CE (Commercial Employment) zoning, allowing for a wide range of office, and retail uses. Constructed in 2005, the single-story building showcases durable concrete tilt-up construction with decorative split-faced masonry accents. The property offers ample surface parking (±60 stalls) and is easily accessible via public transportation along Steele Street. Recent capital improvements include a new roof installation in April 2025, further supporting long-term asset stability and reduced nearterm capital exposure.

Market Context

This retail in Tacoma, WA is listed for sale at $3,539,000 across 9,424 SF ($3/SF). It has been on the market for 148 days. Compare it against other retail listings for sale in Tacoma, WA — <a href="/search/sale/retail/washington/tacoma">view the full market</a>.

As of Q1 2026, the Seattle / Bellevue retail market showed a 16.8% vacancy rate, and cap rates around 7.6%. Source: Www.lee-Associates.com Q1 2026 market report.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Retail market FAQ

What is the typical cap rate for retail in Seattle / Bellevue?
About 7.6% as of Q1 2026, per Www.lee-Associates.com.
Is the Seattle / Bellevue retail market tightening or softening?
Vacancy is around 16.8% (Q1 2026).

Unified Estimate

Low Confidence

$743.75/SF – $1,006/SF

Mid: $875.00/SF

Total estimate for 9,424 SF: $8,246,000

Rate estimator only; cost-of-business estimate unavailable.

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