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    809 38Th St Tacoma, WA 98418

    Sponsored
    For Sale
    $1,269,000

    Tacoma investment opportunity, high potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional commercial property, located at 809 S 38th Street in Tacoma, Washington, presents a rare investment or owner-user opportunity. Priced at $1,269,000, this property boasts a projected capitalization rate of 7.45%. Situated on a 0.3-acre lot in Tacoma's revitalized Lincoln District, the Horsfall mixed-use building offers significant potential. The building comprises thirteen units in total: three ground-floor retail spaces and an attached warehouse, complemented by six studio apartments and three separate dwelling units (SEDUs) on the second floor. The current configuration offers a strong proforma income stream, with potential for increased revenue through lease-up of vacant spaces and/or renovation to alter the unit mix or floor plans. The property includes designated parking located behind the building, providing convenient access for tenants and customers. Its prime location offers easy access to key amenities, including the Tacoma Mall and T-Mobile facilities. The multi-use zoning allows for redevelopment possibilities, further enhancing its investment appeal. Given the surrounding revitalization efforts and numerous new development projects in the Lincoln District, this property presents a compelling opportunity for long-term growth and return. The property is being sold "As Is".

    Property Features for 809 38Th St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    13,068 SF

    Building Details

    Year Built
    1916
    Property Profile Location Intelligence

    Current Use by Public Records

    Big Vac Inc Vacuum Cleaner Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4438
    Latitude
    47.22333

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    FAQs

    What type of property is this?
    Commercial real estate - Tacoma investment opportunity, high potential.
    Where is this commercial real estate located?
    The property is located at 809 38Th St Tacoma, WA.
    What is the asking price?
    The asking price for this property is $1,269,000.
    (425) 531-7966
    Request Owner's contact information
    809 38Th St Tacoma, WA 98418
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    Tacoma, WA 98418
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    809 38Th St Tacoma, WA 98418
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