High-Visibility Mixed-Use
1016 S 10th St Tacoma, WA 98405
For Sale
Contact for pricing
Exceptional property with high potential in a transforming urban core.
Property Size19,024 SF
Lot Size0.15 Acres
Price / SF$136.67
Days on Market184
Property Features for 1016 S 10th St
General Information
Standard status
Active
Size
19,024 SF
Lot size
0.15 Acres
Property subtype
RETAIL
Listing Agency:
The Wynn Group
(253) 509-0449
Listed By:
Oliver Rodriguez
(253) 509-0449
Source:
Moodyscre
Added: Jan 27
Changed: Jul 6
Last Checked: Jul 21 at 5:27AM
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 The Wynn Group
Investment Insights
Based on property information with market context.
Located along the high-visibility Martin Luther King Jr. Way, this property offers exceptional potential in a rapidly transforming corridor with multiple nearby developments already underway. Zoned Neighborhood Commercial Mixed-Use (NCX), the site provides flexibility for various uses, including retail, office, multi-family housing, or a mixed-use concept. The zoning allows building heights up to 45 feet. The existing structure features 20-foot vaulted ceilings and a two-level seating area suitable for events, church, or community gatherings. It also includes multiple professional offices, a reception area, break rooms, and ADA-compliant restrooms. The property has an expansive 12,996 square feet finished basement and a new roof installed in 2018. The property offers a gateway into Tacoma’s growing urban core, surrounded by active investment and community renewal. The property size is 19,024 square feet.
Key Highlights
- High‑visibility location on Martin Luther King Jr. Way in a rapidly developing area.
- Zoned Neighborhood Commercial Mixed‑Use (NCX) allowing for retail, office, multi‑family housing, or mixed‑use development.
- Existing structure features a rare and expansive 12,996 SF finished basement.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $342.4k | $18.00 |
| − Vacancy | −$15.4k | −$0.81 |
| EGI | $327.0k | $17.19 |
| − OpEx | −$98.1k | −$5.16 |
| NOI | $228.9k | $12.03 |
19,024 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$4.40M
$3.85M – $5.14M
NOI $308,189 @ 7.0% cap · market cap 11.85%
Second Best
Mixed Use
$3.75M
$3.28M – $4.38M
NOI $262,531 @ 7.0% cap · market cap 10.10%
Theoretical Best
Office A
$5.85M
$5.12M – $6.82M
NOI $409,320 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Exceptional property with high potential in a transforming urban core.
Where is this mixed-use property located?
The property is located at 1016 S 10th St Tacoma, WA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: High‑visibility location on Martin Luther King Jr. Way in a rapidly developing area.; Zoned Neighborhood Commercial Mixed‑Use (NCX) allowing for retail, office, multi‑family housing, or mixed‑use development.; Existing structure features a rare and expansive 12,996 SF finished basement.
