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11618 Pacific Hwy SW 0.51 Acres of Commercial Land Offered at $625,000 in Lakewood, WA 98499
Investment Highlights
- 0.51-acre commercial lot located on Pacific Highway SW near Sound Transit.
- Design review pending for an 18-unit multifamily project.
- Located in an Opportunity Zone, offering potential tax benefits.
- Zoning allows for commercial, retail, office, and multifamily development (up to 28 units).
- Utilities (water, sewer) on-site; electricity available in the street.
- A design review is currently pending for an 18-unit multifamily project
Executive Summary
Commercial lot on Pacific Hwy next to Sound Transit. Zoning permits commercial, business/retail (barber shop, insurance, beauty salon, restaurant) as well as multifamily development up to 28 units per City of Lakewood. Design review pending for 18 units. Utilities (water, sewer) on property from previously demolished auto shop, electricity in street. Both parcels have been combined - correct parcel number is 0219126025 - Prime investment opportunity!
Property Facts
1 Lot Available
Lot
| Price | $625,000 | Lot Size | 0.51 AC |
| Price Per AC | $1,222,037.34 |
| Price | $625,000 |
| Price Per AC | $1,222,037.34 |
| Lot Size | 0.51 AC |
This 0.51-acre commercial lot offers a prime development opportunity along Pacific Highway SW in Lakewood, Washington. Positioned adjacent to Sound Transit and near Pierce County Transit, the property benefits from strong visibility and accessibility
Description
The property at 11618 Pacific Hwy SW, Lakewood, WA consists of 0.51 acres of commercially zoned land. It is located along a major transportation corridor near Sound Transit and Pierce County Transit. The site is zoned for commercial and multifamily uses, with utilities in place and development potential for up to 28 residential units.
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Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 021912-6003 | Improvements Assessment | $700 |
| Land Assessment | $441,000 | Total Assessment | $441,700 |
Property Taxes
Parcel Number
021912-6003
Land Assessment
$441,000
Improvements Assessment
$700
Total Assessment
$441,700
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11618 Pacific Hwy SW
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