Tacoma Flex Space with
For Sale
$2,885,000
10324 Portland Ave E, Tacoma, WA 98445
8,640 SF building on 1.01 acres near Highway 512.
Property Size8,640 SF
Lot Size1.01 Acres
Price / SF$333.91
Days on Market265
Property Features for 10324 Portland Ave E
General Information
Standard status
Active
Size
8,640 SF
Lot size
1.01 Acres
Property subtype
Industrial
Building Details
Building Size
8,640 SF
Listed By:
Dave Douglas, SIOR, CCIM
(253) 203-1326
Source:
Naiglobal
Added: Jan 27
Changed: Oct 5
Last Checked: Oct 19 at 3:54AM
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 Dave Douglas, SIOR, CCIM
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Investment Insights
Based on property information with market context.
This property features an 8,640 square foot building area situated on a 44,095 square foot (1.01 acres) lot. The main building comprises 7,444 square feet, including 7,000 square feet of office space across two floors and a 2,940 square foot shop/warehouse. Additionally, there is a 2,400 square foot canopy and two 600 square foot Quonset Hut buildings, totaling 1,200 square feet. The property is secured with a fenced, fully lit yard and high-tech security systems. Zoned CE- Community Employment, it is suitable for contractor, engineering, or other businesses with yard requirements. The location offers convenient access to Highway 512, I-5, Highway 167, and the Portland Ave off-ramp, with freeway access within 1/4 mile and the Port of Tacoma 6 miles north on Portland Ave.
Key Highlights
- Excellent Location: Close to Highway 512, I‑5, Highway 167, and Portland Ave, with freeway access in 1/4 mile and Port of Tacoma 6 miles away.
- Secured and Lit Yard: Fully fenced and lit yard with high‑tech security systems.
- Versatile Building Space: Includes a 7,444 SF main building with office and shop/warehouse space, plus a canopy and Quonset hut buildings.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,968
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,799,360
$2.8M
Cap Rate 7%
$1,999,543
$2.0M
Cap Rate 9%
$1,555,200
$1.6M
Market Conditions
NOI Build-Up for 8,640 SF
Gross rent
$233.3K $27.00/SF
− Vacancy
−$46.7K −$5.40/SF
EGI
$186.6K $21.60/SF
− OpEx
−$46.7K −$5.40/SF
NOI
$140.0K $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%
$2,799,360
Cap Rate 7%
$1,999,543
Cap Rate 9%
$1,555,200
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,968 @ 7.0% cap · market cap 4.85%
Second Best
Warehouse
$1.60M
$1.40M – $1.87M
NOI $112,331 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,898 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98445, WA
33,927
Population
12,546
Households
2.7
Avg Household Size
36
Median Age
19%
College-Educated
90%
High-School Grad
10.4 sq mi
ZIP Area
3,262
Density / Sq Mi
$90,063
Median Household Income
$48,574
Median Earnings
$1,721
Median Rent
$413,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Flex space - 8,640 SF building on 1.01 acres near Highway 512.
Where is this flex space located?
The property is located at 10324 Portland Ave E Tacoma, WA.
What is the asking price?
The asking price for this property is $2,885,000.
What are key features of this property?
This property features: Excellent Location: Close to Highway 512, I‑5, Highway 167, and Portland Ave, with freeway access in 1/4 mile and Port of Tacoma 6 miles away.; Secured and Lit Yard: Fully fenced and lit yard with high‑tech security systems.; Versatile Building Space: Includes a 7,444 SF main building with office and shop/warehouse space, plus a canopy and Quonset hut buildings.
