Retail Storefront
For Sale
$2,250,000
1115 A St, Tacoma, WA 98402
Retail storefront property offered for sale at 1115 and 1113 A St in Tacoma.
Property Size17,034 SF
Days on Market184
Property Features for 1115 A St
General Information
Standard status
Active
Size
17,034 SF
Property subtype
Retail
Building Details
Building Size
17,034 SF
Year Built
1923
Listed By:
Kyle Prosser
(253) 691-8696
Source:
Lee-associates
Added: Mar 7
Changed: Sep 7
Last Checked: Sep 7 at 5:30AM
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 Kyle Prosser
Investment Insights
Based on property information with market context.
This retail storefront property is offered for sale and includes two street addresses, 1115 & 1113 A St, Tacoma, WA. The asset totals 17,000 square feet, providing room for multiple retail configurations within the existing storefront format.
The property’s address is the primary location detail available at this time. Please contact us for additional information on unit layout, leasing status, and any included improvements or configurations.
The property’s address is the primary location detail available at this time. Please contact us for additional information on unit layout, leasing status, and any included improvements or configurations.
Key Highlights
- Retail storefront property for sale at 1115 and 1113 A St in Tacoma
- Year built: 1923
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$204,970
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,099,400
$4.1M
Cap Rate 7%
$2,928,143
$2.9M
Cap Rate 9%
$2,277,444
$2.3M
Market Conditions
NOI Build-Up for 17,034 SF
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.
Gross rent
$306.6K $18.00/SF
− Vacancy
−$13.8K −$0.81/SF
EGI
$292.8K $17.19/SF
− OpEx
−$87.8K −$5.16/SF
NOI
$205.0K $12.03/SF
Area
Tacoma, WA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,099,400
Cap Rate 7%
$2,928,143
Cap Rate 9%
$2,277,444
Alternative Uses
Best Use
Retail
$2.93M
$2.56M – $3.42M
NOI $204,970 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.24M
$4.58M – $6.11M
NOI $366,504 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,119
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Hotels & Casinos 35%
Shops & Services 5%
McDonald's
Dining
28,302 visits/mo
0.4 miles
Marriott Tacoma Downtown
Hotels & Casinos
11,090 visits/mo
0.4 miles
Courtyard Tacoma Downtown
Hotels & Casinos
6,246 visits/mo
0.3 miles
Domino's Pizza
Dining
1,484 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
1,235 visits/mo
0.2 miles
Demographics for 98402, WA
8,053
Population
4,788
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
6,711
Density / Sq Mi
$54,712
Median Household Income
$43,145
Median Earnings
$1,478
Median Rent
$558,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront property offered for sale at 1115 and 1113 A St in Tacoma.
Where is this retail space located?
The property is located at 1115 A St Tacoma, WA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Retail storefront property for sale at 1115 and 1113 A St in Tacoma; Year built: 1923
