Retail Property for Sale in Tacoma, WA
Seventy Two Pacific Center
7030-7052 Pacific Ave, Tacoma, WA 98408, Pierce County
Price
$4,150,000
Listing Information
- Listing Type Retail
- Cap Rate -
- Water -
- Other Utilities -
- Dock High Doors -
- Doors Grade -
- Condo SF -
Property Information
- Property Type Retail
- Year Built/Reno. -
- Parcel # 6615001852
- Zoning -
The Verger Team is pleased to present the opportunity to acquire Seventy Two Pacific, a 22,996 SF retail center located near the signalized intersection of E 72nd St & Pacific Ave with excellent visibility & traffic exposure, with over 42,000+ vehicles per day. The offering includes two existing buildings, a fully-leased 4-tenant retail center providing immediate cash flow at a 6.75% in-place cap rate, and an adjacent 18,442 SF recently vacant retail building offered well below replacement cost at $165/SF, providing flexibility for an owner-user, value-add investor, or developer. Additionally, permits have been submitted for a 3,000 SF retail building to be constructed on the south end of the parcel, providing future upside. Stable In-Place Income & Significant Future Upside: - The offering includes two existing buildings, a fully-leased 4-tenant retail center providing immediate cash flow at a 6.75% in-place cap rate & an adjacent 19K SF vacant retail building offered well below replacement cost at $165/SF ideal for an owner-user or value-add investor. Long-Term Commitment: - 3 of the 4 tenants occupying 82% of Building A have occupied the center for over 10 years, demonstrating their long-term commitment to the area. Recent Building Upgrades: - Building A has seen substantial upgrades over the past five years including new HVAC systems and over $200,000 in tenant improvements, featuring upgraded plumbing and electrical, a facade refresh, new sidewalks, and more. Vacant Box Repositioning Opportunity: - Current ownership removed all tenants as of June 2025 and brought the building back to the studs, creating a blank canvas. This positions the property for a new era of tenancy or owneruser occupancy, with the ability to fully renovate and reconfigure the space. Strategic Location: - Seventy Two Pacific is located near the signalized intersection of 72nd and Pacific Ave benefiting from a combined 42,000+ VPD situated in one of Tacoma's main retail corridors with national retailers including McDonald's, CVS, AutoZone, and more. Development Upside: - The sale includes architectural drawings approved by the city to construct a 3,000 SF retail building on the south end of the lot, providing development upside.