For Sale
$1,650,000

622 Tacoma AveTacoma, WA 98402

8,277 SF Office, Redevelopment Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
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
622 Tacoma Ave, Tacoma, Washington

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622 Tacoma Ave
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