Log In/Sign Up
Your email has been sent.
Lakewood Square Neighborhood Center 5 Properties Offered at $10,380,000 in Lakewood, WA
INVESTMENT HIGHLIGHTS
- Goodwill recently signed a 10 year lease extension and has 20+ years of occupancy at Lakewood Square
- Offered at $192 PSF – Well below construction cost
- Majority of leases feature 3%+ annual increases
- Excellent mix of national and local tenants
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present the opportunity to acquire Lakewood Square, a multitenant neighborhood shopping center anchored by credit tenant Goodwill.
Goodwill has operated at the center since 2004 and executed a new 10-year lease extension in July 2024. The property includes five buildings featuring a well-rounded mix of national and local tenants, offering value retail, dining, and service-based uses. Strategically positioned at a signalized intersection in a high-traffic area, Lakewood Square provides convenient access from both Mt. Tacoma Drive and Lake Grove Street.
Located within the Central Business District (CBD), the property benefits from strong connectivity, surrounded by bus stops and just a 15-minute drive to several Link Light Rail stations. Nearby points of interest include St. Joseph’s Hospital, South 25th, Hilltop District, Union Station/South 19th, and the Convention Center/South 15th. Lakewood Station and South Tacoma Station are also just five minutes away, offering excellent regional accessibility.
Goodwill has operated at the center since 2004 and executed a new 10-year lease extension in July 2024. The property includes five buildings featuring a well-rounded mix of national and local tenants, offering value retail, dining, and service-based uses. Strategically positioned at a signalized intersection in a high-traffic area, Lakewood Square provides convenient access from both Mt. Tacoma Drive and Lake Grove Street.
Located within the Central Business District (CBD), the property benefits from strong connectivity, surrounded by bus stops and just a 15-minute drive to several Link Light Rail stations. Nearby points of interest include St. Joseph’s Hospital, South 25th, Hilltop District, Union Station/South 19th, and the Convention Center/South 15th. Lakewood Station and South Tacoma Station are also just five minutes away, offering excellent regional accessibility.
PROPERTY FACTS
| Price | $10,380,000 | Number of Properties | 5 |
| Price / SF | $191.99 / SF | Individually For Sale | 0 |
| Cap Rate | 7.29% | Total Building Size | 54,066 SF |
| Sale Type | Investment NNN | Total Land Area | 9.87 AC |
| Status | Active |
| Price | $10,380,000 |
| Price / SF | $191.99 / SF |
| Cap Rate | 7.29% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 54,066 SF |
| Total Land Area | 9.87 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 5921 Lake Grove St SW, Lakewood, WA 98499 | Industrial | 7,285 SF | 1978 | - |
| 6002 Mount Tacoma Dr SW, Lakewood, WA 98499 | Retail | 30,577 SF | 1965 | - |
| 6008 Mount Tacoma Dr SW, Lakewood, WA 98499 | Retail | 14,256 SF | 1964 | - |
| 6010 Mount Tacoma Dr SW, Lakewood, WA 98499 | Retail | 1,698 SF | 1964 | - |
| 6000 Mt Tacoma Dr SW, Lakewood, WA 98499 | Retail | 250 SF | 1964 | - |
1 1
1 of 8
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Lakewood Square Neighborhood Center
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.