933 Market StTacoma, WA 98402

Property Details for 933 Market St

Year built

1922

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.21 AC

Property size (Sq ft)

9,000 SF

Zone code

DCC

Property type

Turn key restaurants

APN

2009070060

APU

2009070060

Description

This iconic 1922 Nash Building, located at 933 Market Street in Tacoma, Washington's vibrant Downtown North Tacoma (DCC) district, presents a rare investment opportunity. The three-story structure masterfully combines classic architecture with Art Deco influences, offering a unique blend of historical charm and modern functionality. Undergoing meticulous updates in 2024, the building boasts a brand new HVAC system, completely updated electrical and plumbing systems, and a comprehensive seismic retrofit, ensuring both comfort and structural integrity for years to come. The property's mixed-use design is highly attractive. The ground floor houses the well-established Tacoma Comedy Club, a popular restaurant, bar, and entertainment venue operating under a current lease. The second floor comprises a substantial 7,800 square foot flex space, fully finished and ready for immediate occupancy, offering immense versatility for a variety of commercial uses. Convenient parking is provided by a secure, finished parking garage on the first floor, with capacity for 17 vehicles. Adding to its appeal is a stunning rooftop lounge, offering breathtaking panoramic views of Commencement Bay and the downtown area. This space is ideal for private events or as a valuable amenity for tenants. Priced at $5,000,000, this landmark property represents a unique chance to acquire a piece of Tacoma's history while capitalizing on its contemporary utility and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,731,040

  6.5%

  $2,520,960

  7%

  $2,340,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,510,010

  Geo Method

  $1,802,550

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,854,390

  Mixed-Use / Specialty

  $2,536,920

  Hospitality / Lodging

  $1,893,730

  Office

  $2,547,830

  Institutional / Educational

  $2,646,290

  Residential Income

  $3,096,150

  Multifamily

  $3,575,080

  Automotive / Energy

  $2,268,250

  Parking / Income-Based Land

  $758,100

  Restaurant / Food Service

  $1,372,710

  Healthcare / Senior Housing

  $2,575,980

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.254

Longitude

-122.441

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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