Lacey, WA
Commercial Real Estate Market Trends & Data

$497 Avg asking sale price
$23 Avg asking lease rate
11,878 SF Avg unit lease size
19,140 SF Avg building size for sale
5.87% Average cap rate

Lacey's Demographic Profile

Lacey has 23,680 households and a median income of $78,704, providing context for rent absorption and tenant demand across retail and multifamily assets. A +6% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 60,871
# Households 23,680
Median age 39
Median household income $78,704
Avg household size 3.0
Renter-occupied housing units 10,038
5-year population change +6%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Lacey, WA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Lacey $331 15,665 SF 5.20%
Olympia $247 20,295 SF 8.00%
Tumwater $220 5,782 SF 4.62%
Lakewood $233 7,541 SF 6.00%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Lacey $1,444 1,378 SF 5.13%
Olympia $559 15,889 SF 13.00%
Tumwater $157 31,356 SF 13.00%
Lakewood $275 20,229 SF 8.05%
Tacoma $356 16,569 SF 9.72%
Nearby Retail Markets Avg Cost/SF Typical Size
Lacey $1,026 25,009 SF
Olympia $437 18,595 SF
Tumwater $296 19,521 SF
Tenino $139 3,565 SF
Lakewood $282 22,852 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Lacey $195 34,732 SF 7.77%
Olympia $206 48,625 SF 7.77%
Lakewood $236 17,487 SF 5.85%
Tacoma $291 17,155 SF 7.34%

Commercial Properties For Sale in Lacey

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

2520 Park View St NE

Olympia, WA 98506

  • 0.96 AC Lot
  • 1 Commercial Lot
  • $1,199,000
For Sale

3912 Martin Way E

Olympia, WA 98506

  • 8,447 SF Office Building
  • $1,695,000
For Sale

Lacey Shoe Repair

Lacey, WA 98503

  • 7,900 SF Retail Building
  • $1,399,000
For Sale

Lacey Urban Center

Olympia, WA 98516

  • 43,873 SF Retail Building
  • 5.49% Cap Rate
  • $11,500,000
For Sale

Custom Security Bldg

Lacey, WA 98503

  • 26,475 SF Office Building
  • $5,700,000
For Sale

Banfield Pet Hospital & ShareTea

Lacey, WA 98503

  • 5,800 SF Retail Building
  • 5.42% Cap Rate
  • $4,195,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

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Land Entitlement
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Land Loan Calculator
Land Loan Calculator
Use this calculator to estimate monthly payments, interest, and total financing costs for raw, unimproved, or improved land purchases.
Multifamily Financing Options & Rates
Multifamily Financing Options & Rates
A comprehensive overview of multifamily loan programs, current market rates, and essential requirements for successful financing in today's market
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What are Reciprocal Easement Agreements in CRE?
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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Lacey pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Lacey $497 19,140 SF
Olympia $325 22,581 SF
Dupont $402 10,697 SF
Tumwater $319 20,634 SF
Fort Lewis $321 6,429 SF

Regional Demographic Comparison

This comparison places Lacey alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Lacey or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Lacey 60,871 23,680 39 $78,704 3 10,038 6%
Olympia 57,965 25,531 41 $69,643 2 13,548 5%
Dupont 9,552 3,424 34 $105,520 3 1,560 1%
Tumwater 28,708 11,935 40 $79,815 2 4,993 7%
Fort Lewis 14,962 3,075 26 $48,989 3 3,044 5%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Lacey, WA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Lacey

View All Commercial Real Estate For Sale in Lacey
Is Lacey a good market for a first-time commercial real estate investor?

Lacey offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Lacey?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Lacey. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Lacey?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Lacey. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Lacey compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Lacey. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Lacey acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Lacey, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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