For Sale
$2,250,000

909 Pacific AveTacoma, WA 98402

Prime Tacoma location, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional two-story, 12,541 square foot executive office building at 909 Pacific Avenue in Tacoma, WA, presents a compelling owner-user opportunity. Boasting a 100% occupancy rate and a strong pro-forma NOI of $155,552.35, this Class B property offers a 6.91% cap rate. Built in 1919 and renovated in 2009, the building sits on a 0.14-acre lot (APN 200903-0020) and is zoned DCC. The asking price is $2,250,000 ($179.41/sq ft). The property features one unit across two stories and benefits from long-term leases (through October 2024) with two first-floor tenants, allowing an owner-user to occupy approximately 6,000 square feet on the second floor. Its strategic location in downtown Tacoma, directly across from the Tacoma Link light rail, provides excellent access to amenities, I-5, and connecting highways. The surrounding area offers a diverse mix of retail and office tenants, fostering a strong business environment. This property is an ideal investment in a rapidly growing area with a deep labor and housing pool.

Highlights

  • 6,000 SF second-floor owner-user space with income-producing first-floor tenants.
  • First-floor tenants under long-term leases expiring October 2024.
  • Prime Pacific Avenue location in Downtown Tacoma.
  • Excellent downtown location in a high-growth area.
  • Strong demographics due to ample labor and housing.
  • Convenient access to amenities, housing, and highways.

Property Details for 909 Pacific Ave

Property type
Retail properties, Office properties
Square Feet
12,541 SF
Class
B
Year Built/Renovated
1919/2009
Buildings
1
Stories
2
Lot Size (sq. ft)
6,098 SF
Units
1

Location Insight

City
Tacoma
County
Pierce
State
Washington
Latitude
47.255009
Longitude
-122.4385877
909 Pacific Ave, Tacoma, Washington

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909 Pacific Ave
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