Office/Warehouse Space For
For Sale
$1,500,000
Pending
11301 17th Ave E, Tacoma, WA 98445
Office and warehouse space with easy highway access.
Property Size4,520 SF
Days on Market450
Property Features for 11301 17th Ave E
General Information
Standard status
Pending
Size
4,520 SF
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
NWC - KV LLC
(253) 779-8400
Listed By:
BRIANA HICKEY
Source:
Corcoran
Added: May 20, 2025
Changed: Jul 6
Last Checked: Jul 23 at 7:45AM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
This property features 2,072 square feet of office space and 2,448 square feet of warehouse space, situated on a 19,166 square foot (0.44 acre) lot. It includes a lobby/reception area, an oversized conference room with an attached kitchen, and two additional office workspaces with a conference area. The property also has four bay doors and is zoned Ecor. Professionally landscaped with irrigation and a water feature, the location offers convenient access to major highways, just off Portland Ave. This property presents an ideal owner/user opportunity.
Key Highlights
- Ideal owner/user opportunity
- Great location just off Portland Ave with easy access to major Highways
- Warehouse: 2,448 SF
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
$73,224
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
4.88%
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%
$1,464,480
$1.5M
Cap Rate 7%
$1,046,057
$1.0M
Cap Rate 9%
$813,600
$813.6K
Market Conditions
NOI Build-Up for 4,520 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
$122.0K $27.00/SF
− Vacancy
−$24.4K −$5.40/SF
EGI
$97.6K $21.60/SF
− OpEx
−$24.4K −$5.40/SF
NOI
$73.2K $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 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%
$1,464,480
Cap Rate 7%
$1,046,057
Cap Rate 9%
$813,600
Alternative Uses
Best Use
Office B
$1.05M
$915.3K – $1.22M
NOI $73,224 @ 7.0% cap · market cap 4.88%
Second Best
Warehouse
$839.5K
$734.6K – $979.4K
NOI $58,766 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,252 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Well-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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Office and warehouse space with easy highway access.
Where is this warehouse located?
The property is located at 11301 17th Ave E Tacoma, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Ideal owner/user opportunity; Great location just off Portland Ave with easy access to major Highways; Warehouse: 2,448 SF
