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Lacey Plaza 4660 Whitman Ln 11,502 SF 100% Leased Retail Building Lacey, WA 98513 $4,460,918 CAD ($387.84 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Strategically positioned within minutes of Providence St. Peter Hospital, Washington State Government offices, and Sea Mar Community Health Centers
- 4660 Whitman Ln SE occupies a prestigious position in Lacey's Rainier Commercial Park, featuring high-visibility frontage on heavily traveled Yelm Hwy
- The property utilizes an NNN lease structure, which enables tenants to assume responsibility for nearly all operating expenses
- Located within Lacey's established commercial district alongside Lowe's, major retail anchors, and the rapidly expanding Lacey Corporate Center
EXECUTIVE SUMMARY
We are pleased to present for sale Lacey Retail Center!
Lacey Retail Center, located in Thurston County, Washington, is a
well-established retail property featuring 6 suites with 100%
occupancy. Encompassing 11,324 square feet, the center showcases a
diverse tenant mix including Lacey Liquor & Beverage, Kasita Krec's
LLC, Sharp Design Hair Studio, Canna Cabana Subs & Shakes, Emerald
City/Pizza Hut, and Star Nails & Spa, providing essential services and
dining options to the community.
The property benefits from stable, long-term tenants with built-in rent
escalations and generates additional income from a T-Mobile cell
tower lease with automatic 10% increases every five years. Recent
capital improvements including a new roof (2020), updated HVAC
system (2017), and modernized fire panel (2025) demonstrate
proactive property management and commitment to maintaining the
asset.
Strategically positioned in Lacey's retail corridor, the center serves the
growing Thurston County market and benefits from its proximity to
major transportation routes and residential neighborhoods, making it
an attractive investment opportunity with proven cash flow and
value-add potential through professional management.
Lacey Retail Center, located in Thurston County, Washington, is a
well-established retail property featuring 6 suites with 100%
occupancy. Encompassing 11,324 square feet, the center showcases a
diverse tenant mix including Lacey Liquor & Beverage, Kasita Krec's
LLC, Sharp Design Hair Studio, Canna Cabana Subs & Shakes, Emerald
City/Pizza Hut, and Star Nails & Spa, providing essential services and
dining options to the community.
The property benefits from stable, long-term tenants with built-in rent
escalations and generates additional income from a T-Mobile cell
tower lease with automatic 10% increases every five years. Recent
capital improvements including a new roof (2020), updated HVAC
system (2017), and modernized fire panel (2025) demonstrate
proactive property management and commitment to maintaining the
asset.
Strategically positioned in Lacey's retail corridor, the center serves the
growing Thurston County market and benefits from its proximity to
major transportation routes and residential neighborhoods, making it
an attractive investment opportunity with proven cash flow and
value-add potential through professional management.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
11,502 SF
Building Class
C
Year Built
1998
Price
$4,460,918 CAD
Price Per SF
$387.84 CAD
Cap Rate
6.50%
NOI
$289,959 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
1.05 AC
Zoning
Commercial
Parking
27 Spaces (2.35 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 70220000400 | Improvements Assessment | $2,454,296 CAD |
| Land Assessment | $1,065,620 CAD | Total Assessment | $3,519,917 CAD |
PROPERTY TAXES
Parcel Number
70220000400
Land Assessment
$1,065,620 CAD
Improvements Assessment
$2,454,296 CAD
Total Assessment
$3,519,917 CAD
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Lacey Plaza | 4660 Whitman Ln
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