2208 Mildred St West — Sale in Tacoma, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Tacoma, WA 98466-6041
  • Size: 192,171 SF

Description

•Former theater, cannot be reused as a theatre •This property is well located within the major retail hub of University Place •Easily accessible to Lakewood, Gig Harbor, Tacoma Community College, I-5, Hwy 16, and Tacoma Mall •University Place has some of the highest demographics in the greater Tacoma area •University Place has the only Whole Foods South of Seattle in Washington State and is home to Chambers Bay Golf Course which according Golf Digest was ranked as the 26th best public golf courses in the U.S.

Market Context

This retail in Tacoma, WA is listed for sale across 192,171 SF. It has been on the market for 166 days. Compare it against other retail listings for sale in Tacoma, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue retail market showed a 16.8% vacancy rate, and cap rates around 7.6%.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Retail market FAQ

What is the typical cap rate for retail in Seattle / Bellevue?
About 7.6% as of Q1 2026.
Is the Seattle / Bellevue retail market tightening or softening?
Vacancy is around 16.8% (Q1 2026).

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