For Sale
$1,650,000

622 Tacoma Ave Tacoma, WA 98402

8,277 SF Office, Redevelopment Potential

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This 8,277 square foot, two-story office building in Tacoma, WA (98402), presents a unique owner-user and redevelopment opportunity. Currently 49% occupied, the property offers immediate potential for owner occupancy. The ground floor features a single 4,200 square foot space, while the second floor comprises five smaller suites ranging from 534 to 1,372 square feet, three of which are leased month-to-month. One existing tenant is seeking expansion, providing an immediate opportunity to increase occupancy and rental income. The building sits on a 16,250 square foot lot (APN: 200612-0040. 200612-0030) and is zoned DR. Built in 1956, the Class C building offers significant upside potential. Initial architectural plans exist for a substantial vertical mixed-use development, envisioning a seven-story structure with approximately 79,122 gross square feet, including 46,140 square feet of residential and 1,653 square feet of commercial space. The asking price is $1,650,000 ($199.35/SF). This property is ideal for an owner-user seeking immediate space and long-term development potential, or an investor looking to capitalize on a strong Tacoma market and a flexible leasing strategy. The building could achieve 100% occupancy by mid-2025 through leasing or owner-user expansion.

Highlights

  • 8,277 SF two-story office building in Tacoma, WA (98402), 49% occupied, offering immediate owner-user potential.
  • Ground floor features a 4,200 SF space; second floor has five smaller suites (534-1,372 SF), three month-to-month.
  • Existing tenant seeking expansion, offering immediate occupancy and income growth.
  • Sits on a 16,250 SF lot (APN: 200612-0040, 200612-0030), DR zoning.
  • 1956-built Class C building with significant redevelopment potential; preliminary plans for a seven-story, 79,122 GSF mixed-use project (46,140 SF residential, 1,653 SF commercial).
  • Asking price: $1,650,000 ($199.35/SF).

Property Details for 622 Tacoma Ave

Property type
Office properties, Medical offices
Square Feet
8,277 SF
Class
C
Year Built
1956
Buildings
1
Stories
2

Location Insight

City
Tacoma
County
Pierce
State
Washington
Latitude
47.2570501
Longitude
-122.445802

FAQs

What type of property is this?
Office property - 8,277 SF Office, Redevelopment Potential
Where is the office property located?
The property is located at 622 Tacoma Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 8,277 SF two-story office building in Tacoma, WA (98402), 49% occupied, offering immediate owner-user potential.; Ground floor features a 4,200 SF space; second floor has five smaller suites (534-1,372 SF), three month-to-month.; Existing tenant seeking expansion, offering immediate occupancy and income growth.
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622 Tacoma Ave
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