5744 N 26th St - Service Station FOR SALE


Tacoma, WA 98407- West End
$1,640,000 USD
206-693-3352
5744 N 26th St, Tacoma, WA for Sale
$1,640,000 USD
Service Station - FOR SALE
1/3
null | 5.85% Cap Rate

5744 N 26th St
Tacoma, WA 98407
West End


HIGHLIGHTS

  • Corporate-backed, investment-grade tenant that has occupied the property since 1983.
  • Strong ground lease with 10 years remaining well below market rent, allowing for minimal Landlord responsibilities.
  • Pad located within the greater Westgate South Shopping Center that includes Big Lots, Planet Fitness, Starbucks, and McDonald’s.
  • The second closest gas station on Pearl Street, from Hwy 16, which feeds I-5 and Gig Harbor, Washington.
  • Strategically positioned less than a mile from Hwy 16, and on the northwest corner of North Pearl Street and North 26th Street, which sees 23,000 VPD.
  • Strong local demographics with nearly 188,000 residents within a five-mile radius.

OVERVIEW

The Offering is a 1,650 SF Shell gas station and car wash adjacent to the Westgate South Shopping Center, a 125K+ SF shopping center anchored by Big Lots and Planet Fitness. The property is positioned directly at the intersection of North Pearl Street and North 26th Street, a dynamic daily-needs trade area exposed to over 23,000 VPD and high-density surrounding residential. Shell Oil is a global oil and gas company with more than 25,000 locations worldwide and has occupied the property since construction in 1983. This Shell location is leased by PacWest Energy, who currently pays ~30% below-market ground rent at $96K, and has recently signed a lease extension through April 2033 with a 10% base rent increase in April 2028, increasing yield by 52 basis points.

FOR SALE DETAILS

PRICE

$1,640,000 USD

PRICE/SF

$994 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shell - Westgate Pad

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,500 SF

ZONING

-

APN/PARCEL ID

704500-0311

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

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Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.