Pristine Tacoma Office
101 26th St, Tacoma, WA 98421
For Sale
$2,925,000
Pending
Well-kept three-story office building with value-add potential.
Property Size15,624 SF
Days on Market757
Property Features for 101 26th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
COMMERCIAL ADVANTAGE REAL ESTATE
Listed By:
RICHARD CLAUSON
(253) 225-2352
Source:
Corcoran
Added: Oct 16, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMMERCIAL ADVANTAGE REAL ESTATE
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Investment Insights
Based on property information with market context.
This pristine, three-story office building with an elevator is very well-kept inside and out, featuring beautifully landscaped grounds. The mostly fenced property is located across from the iconic Brown & Haley Almond Roca building and offers easy freeway access and great visibility. It is situated just blocks from both downtown and the Tacoma Dome. Additional features include a newer roof, HVAC system, and earthquake retrofitting. The property includes a 37-space parking lot, which the owner has previously rented out for Tacoma Dome events to generate additional revenue. The third floor provides views of the Port. The property size is 15624 square feet.
Key Highlights
- Sales price is under tax‑assessed value, offering value‑add potential.
- Pristine, well‑kept 3‑story office building with elevator.
- Excellent location: easy freeway access, great visibility, blocks from downtown and Tacoma Dome.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,109
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,062,180
$5.1M
Cap Rate 7%
$3,615,843
$3.6M
Cap Rate 9%
$2,812,322
$2.8M
Market Conditions
NOI Build-Up for 15,624 SF
Gross rent
$421.8K $27.00/SF
− Vacancy
−$84.4K −$5.40/SF
EGI
$337.5K $21.60/SF
− OpEx
−$84.4K −$5.40/SF
NOI
$253.1K $16.20/SF
Area
Tacoma, WA
Vacancy
20.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,062,180
Cap Rate 7%
$3,615,843
Cap Rate 9%
$2,812,322
Alternative Uses
Best Use
Office B
$3.62M
$3.16M – $4.22M
NOI $253,109 @ 7.0% cap · market cap 8.65%
Second Best
Retail
$2.69M
$2.35M – $3.13M
NOI $188,004 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $336,166 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
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Business Placement
Demographics for 98421, WA
1,239
Population
78
Households
15.9
Avg Household Size
34
Median Age
25%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
191
Density / Sq Mi
$1,273
Median Rent
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Tacoma, WA
Properties on Market for Office buildings in Tacoma
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Well-kept three-story office building with value-add potential.
Where is this office building located?
The property is located at 101 26th St Tacoma, WA.
What is the asking price?
The asking price for this property is $2,925,000.
What are key features of this property?
This property features: Sales price is under tax‑assessed value, offering value‑add potential.; Pristine, well‑kept 3‑story office building with elevator.; Excellent location: easy freeway access, great visibility, blocks from downtown and Tacoma Dome.
