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Office Buildings with Parking Garage

1119-1123 Pacific Avenue, Tacoma, WA 98402

For Sale
Contact for pricing

The offering combines two office buildings with a multi-level parking structure and redevelopment planning already underway.

Property Size105,148 SF
Days on Market28

Property Features for 1119-1123 Pacific Avenue

General Information

Standard status Active
Size 105,148 SF
Property subtype Office, Mixed Use

Property Condition

Severity Major Repairs Needed
Evidence several floors have been stripped to the studs

Site & Location

Neighborhood New Tacoma

Additional Details

Condition Needs Renovation
Property Use Office

Building Details

Buildings 2
Building Size 105,148 SF
Listing Agency: Berkadia
Listed By: Mitchell Belcher · License WA #125100
Source: Crexi
Added: Oct 14 Changed: Nov 10 Last Checked: Nov 10 at 9:05AM

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 Berkadia

Rey
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Review the available facts, identify missing information and prepare questions for the agent.

Investment Insights

Based on property information with market context.

This three-property offering at 1119-1123 Pacific Avenue includes two historic office buildings and a multi-level parking garage, with approximately 105,148 square feet of commercial space. Several floors have been stripped to the studs. Preliminary redevelopment work and conceptual multifamily plans are in place, while the buildings also present the possibility of office renovation, residential conversion, or a mixed-use approach.

Key Highlights

  • Two office buildings and a multi‑level parking garage
  • Approximately 105,148 square feet of commercial space
  • Several floors stripped to the studs

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Restaurant Clothing & Fashion Store Pet Grooming Service Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,119
Businesses Nearby

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

Average Price Trend$/SF for Office buildings in Tacoma, WA

$201 Jul
$203 Aug
$227 Sep
$227 Oct

Properties on Market for Office buildings in Tacoma

Jul
Aug
Sep
Oct

Vacancy Rate% for Office in West region

11% 2019
14.1% 2020
15.5% 2021
17.2% 2022
19.9% 2023
21% 2024
20.8% 2025

Frequently Asked Questions

What type of property is this?
Office building - The offering combines two office buildings with a multi-level parking structure and redevelopment planning already underway.
Where is this office building located?
The property is located at 1119-1123 Pacific Avenue Tacoma, WA.
What are key features of this property?
This property features: Two office buildings and a multi‑level parking garage; Approximately 105,148 square feet of commercial space; Several floors stripped to the studs
(425) 891-9594 Call to check price and availability
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