Forest Canyon - Lake Tapps
Retail | 16,432 SqFt
Marketing description
Forest Canyon at 3106–3110 Sumner Tapps Hwy E, Lake Tapps, WA 98391 is a rare value-add retail strip center positioned in one of East Pierce County’s most desirable and fast-growing communities. This two-building asset totals 16,432 SF on 6.93 acres, offering strong frontage on busy Sumner Tapps Highway E, excellent visibility, and convenient access to WA-410 and SR-167.
Built in 1997 and configured for flexibility, Forest Canyon features a diverse mix of service, dining, and professional tenants, plus a 5,603 SF vacant suite that creates immediate upside for lease-up and income growth. With 100 parking stalls, Neighborhood Center zoning, and a location surrounded by affluent residential neighborhoods and waterfront homes, the property is well-positioned to serve Lake Tapps’ expanding consumer base.
This is an opportunity to acquire a high-profile neighborhood center with in-place NOI of $182,040 and projected pro forma NOI of $428,686 by 2028. Supported by strong household incomes, limited competing supply, and long-term market fundamentals, Forest Canyon offers investors both current income and compelling future upside.
Investment highlights
- Located on busy Sumner Tapps Highway in Lake Tapps, this property offers strong visibility, steady traffic, and access to a growing surrounding community, making it an excellent investment opportunity.
- Featuring two buildings on-site, this property provides versatile opportunities for a variety of retail, office, or service-based tenants, appealing to diverse business needs in the area.
- Lake Tapps continues to see strong residential growth, high household incomes, and increasing consumer demand, supporting solid long-term market fundamentals. Low rent supply.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
