2415 12Th StTacoma, WA 98405

Property Details for 2415 12Th St

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.27 AC

Property size (Sq ft)

6,752 SF

Zone code

C1

Property type

Retail space

APN

4290000140

APU

4290000140

Description

This exceptional Tacoma investment opportunity presents a fully leased, four-unit retail storefront at 2415 S 12th St, Tacoma, WA 98405. The property, built in 1957 and renovated in 1989, boasts a total of 6,232 square feet on an 11,648 square foot lot, zoned R3/C1. The asking price is $1,195,000, translating to $191.75 per square foot and $107.32 per square foot for land value. The building features a two-story structure with a 0% vacancy rate. Unit A (1,480 sq ft) houses a laundromat, with business and equipment included in the sale. Unit B (833 sq ft) is on a month-to-month lease at $650 per month. Unit C (832 sq ft) has a two-year lease (June 2023-June 2025) at $1,050 per month, inclusive of utilities. Unit D (3,087 sq ft) is under a three-year lease (February 2024-February 2027), with rent increasing from $2,800 to $3,000 per month. The tenant pays utilities. The property benefits from a partial lower roof replacement completed in 2024, and the upper roof is approximately 10 years old. This is an "as-is" sale, with no financial disclosure provided. This presents a strong, stable income stream for the discerning investor.

• CAP approach

  CAP return

  Valuation

  6%

  $2,685,848

  6.5%

  $2,479,245

  7%

  $2,302,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,562,820

  Geo Method

  $3,276,756

• Alternative Use

  Use

  Valuation

  Residential

  $2,091,336

  Hospitality

  $1,915,652

  Educational

  $1,593,800

  Medical

  $1,648,613

  Retail

  $2,479,245

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.2503

Longitude

-122.469

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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