1201 Union AveTacoma, WA 98409

Property Details for 1201 Union Ave

Year built

2006

Construction

WOOD FRAME

Lot size

0.13 AC

Property size (Sq ft)

5,923 SF

Zone code

C1

Property type

Strip malls

Property subtype

Neighborhood centers

APN

3175200050

APU

3175200050

Description

This exceptional 5,900 square foot medical office building, constructed in 2007, is situated at 1201 S Union Avenue in Tacoma, Washington's desirable Allenmore submarket. The single-story building features five suites, with 1,550 square feet currently available for lease. The property boasts a convenient location at the intersection of S Union Avenue and S 12th Street, offering excellent access to major roadways and public transportation. Its Class B construction provides a functional and efficient workspace. Ample parking is available with 29 spaces provided for tenants and visitors. The building is equipped with a 225-amp power supply. The property's proximity to shopping centers, restaurants, and other medical facilities enhances its appeal and convenience. The Pierce County location (APN 3175200050) offers a strong foundation for a thriving medical practice or related business. This is a multi-tenant building offering a versatile space ideal for a variety of medical uses. The available space presents a unique opportunity to establish or expand a medical practice in a highly accessible and well-amenitized area of Tacoma.

• CAP approach

  CAP return

  Valuation

  6%

  $2,356,084

  6.5%

  $2,174,847

  7%

  $2,019,501

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,002,604

  Geo Method

  $2,874,442

• Alternative Use

  Use

  Valuation

  Residential

  $1,834,565

  Hospitality

  $1,680,452

  Educational

  $1,398,116

  Medical

  $1,446,199

  Retail

  $2,174,847

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.2498

Longitude

-122.483

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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