Pasco, Washington, offers a unique opportunity for investors to capitalize on the growing demand for retail properties. With a population of around 70,000, Pasco has experienced significant growth and development in recent years, making it an attractive location for businesses and residents alike. Retail properties in Pasco can represent a range of investments, from small storefronts to large shopping centers, offering a diverse portfolio of opportunities for investors. The city's infrastructure, including the Pasco Intermodal Train Station and Tri-Cities Airport, provides easy access to transportation, making it an ideal location for businesses that rely on logistics and supply chain management. Additionally, Pasco's education system, including Columbia Basin College and Washington State University Tri-Cities, provides a skilled workforce, while its amenities, such as the Pasco Farmers Market and Gesa Stadium, offer a high quality of life for residents. The city's geography, with the Columbia River bordering the south side, also provides a unique opportunity for waterfront development and scenic views. With its growing population and diverse economy, Pasco is a great place for business and travel, with attractions like the HAPO Center and the Tri-City Dust Devils baseball team at Gesa Stadium.
Pasco's retail properties are situated in a prime location, with nearby shopping centers, restaurants, office properties, and hotels. The city's shopping centers, such as the one located on Road 100, offer a range of retail options, from big-box stores to specialty boutiques. Restaurants in Pasco, like those in the downtown area, provide a diverse range of dining options, from fine dining to casual eateries. Office properties, such as those near the Pasco Intermodal Train Station, offer a convenient location for businesses that rely on transportation. Hotels, like the ones near the Tri-Cities Airport, provide a comfortable stay for visitors and business travelers. With a total of 9 retail properties available for sale, Pasco offers a range of investment opportunities for those looking to capitalize on the city's growing economy. The average price per square foot for retail properties in Pasco is $388 USD, with an average size of 9,560 square feet, and a largest size of 29,478 square feet. The average cap rate for retail properties in Pasco is 6.41%. Overall, Pasco's retail properties offer a unique opportunity for investors to capitalize on the city's growing economy and diverse range of industries.
What is the average cap rate for retail properties in Pasco?
For investors seeking retail properties in Pasco, understanding the average cap rate is crucial. According to current listings, the average cap rate for retail properties in Pasco is 6.41%, which can help investors gauge the potential return on investment; to learn more about how cap rates work, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Pasco, Washington, the location of a retail property significantly impacts its value, with properties situated in high-traffic areas such as West Pasco, near the HAPO Center, and along the Road 100 corridor tend to command higher prices due to their proximity to amenities and dense population centers.
Foot traffic, in particular, plays a crucial role in determining retail property values, as properties with high visibility and accessibility, such as those near the Pasco Farmers Market or Gesa Stadium, are more likely to attract customers and generate revenue, thereby increasing their value.
