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9720 40th Ave SW
Tacoma, WA 98499
LAKEWOOD INVESTMENT ASSEMBLAGE · Property For Sale
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8,918 SF Total
Executive Summary
This offering consists of three small buildings situated on approximately 1.97 acres. One building is entirely shop space, one is fully office space, and the third contains a combination of shop/storage and office space. The primary tenants are Rapid Prep, LLC and NuCO2, a division of Linde PLC (NASDAQ: LIN). The current owner occupies approximately half of the office building and intends to execute a three-year sale-leaseback upon closing.
The property is located less than one mile from Interstate 5 and Highway 512, providing convenient access to multiple regional freeways. The site is zoned Commercial 2 (C-2) in the City of Lakewood, allowing for a wide range of uses from retail to light industrial. The property has experienced no vacancies for more than 12 years, reflecting strong tenant demand driven by the site’s strategic location. The tenants have no remaining options to renew. While it is very likely they will want to renew, it opens the door to a future redevelopment possibility in 2030 or later.
Additionally, the adjacent office building and the Gerber Collision & Glass facility located at the corner of 40th Ave SW and 100th St SW are also available for sale by the same owner. The adjacent office building contains approximately 15,141 SF and is largely occupied by long-term tenants, with one current vacancy. Gerber Collision & Glass recently commenced a five-year lease extension on June 1, 2025, with two additional renewal options
The property is located less than one mile from Interstate 5 and Highway 512, providing convenient access to multiple regional freeways. The site is zoned Commercial 2 (C-2) in the City of Lakewood, allowing for a wide range of uses from retail to light industrial. The property has experienced no vacancies for more than 12 years, reflecting strong tenant demand driven by the site’s strategic location. The tenants have no remaining options to renew. While it is very likely they will want to renew, it opens the door to a future redevelopment possibility in 2030 or later.
Additionally, the adjacent office building and the Gerber Collision & Glass facility located at the corner of 40th Ave SW and 100th St SW are also available for sale by the same owner. The adjacent office building contains approximately 15,141 SF and is largely occupied by long-term tenants, with one current vacancy. Gerber Collision & Glass recently commenced a five-year lease extension on June 1, 2025, with two additional renewal options
Property Facts
| Price / SF | $518.95 CAD / SF | Number of Properties | 3 |
| Cap Rate | 4.94% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 8,918 SF |
| Status | Active | Total Land Area | 3.40 AC |
| Price / SF | $518.95 CAD / SF |
| Cap Rate | 4.94% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 8,918 SF |
| Total Land Area | 3.40 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 9716 40th Ave SW, Lakewood, WA 98499 | Industrial | 3,400 SF | 1974 | - |
|
Ronepad
9720 40th Ave SW, Tacoma, WA 98499 |
Industrial | 3,240 SF | 1970 | - |
| 9802-9804 40th Ave SW, Tacoma, WA 98499 | Office | 2,278 SF | 1970 | - |
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