Well-Maintained Office Near
215 Tacoma Ave S Tacoma, WA 98402
215 Tacoma Ave S, Tacoma, WA, 98402
$695,000
Pending
For Sale
$695,000
Pending
Office space with easy parking near restaurants and botanical conservatory.
Property Size2,162 SF
Days on Market750
Property Features for 215 Tacoma Ave S
General Information
- Standard status
- Pending
- Size
- 2,162 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
COMMERCIAL ADVANTAGE REAL ESTATE
Listed by
RICHARD CLAUSON
Source
Corcoran
Added: Jul 2, 2024 Updated: Jul 6 at 7:43AM Checked: Jul 21 at 5:33AM
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 COMMERCIAL ADVANTAGE REAL ESTATE
Investment Insights
Based on property information with market context.
This well-maintained property, previously used as a law office, offers 2,162 square feet of space. It features easy parking and is located within walking distance of nearby restaurants and the Seymour Botanical Conservatory. The property can be used as an office or converted back to a home.
Key Highlights
- Convert back to home or use as office.
- Easy parking.
- Walk to nearby restaurants.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.4k | $27.00 |
| − Vacancy | −$11.7k | −$5.40 |
| EGI | $46.7k | $21.60 |
| − OpEx | −$11.7k | −$5.40 |
| NOI | $35.0k | $16.20 |
2,162 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$500.3K
$437.8K – $583.7K
NOI $35,024 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.5K
$581.5K – $775.3K
NOI $46,518 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Law Office of Erik ...
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office space with easy parking near restaurants and botanical conservatory.
Where is this office units located?
The property is located at 215 Tacoma Ave S Tacoma, WA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Convert back to home or use as office.; Easy parking.; Walk to nearby restaurants.
