Live-Work Office
For Sale
Contact for pricing
1212 S 11 St, Tacoma, WA 98405
Commercial or live-work space with an open floor plan, ready for finishes, plus owned and street parking.
Property Size1,321 SF
Price / SF$310.37
Days on Market184
Property Features for 1212 S 11 St
General Information
Standard status
Active
Size
1,321 SF
Property subtype
OFFICE
Listing Agency:
NWC - KV LLC
(253) 779-2403
Listed By:
Derrick Urquhart
(253) 779-2403
Source:
Moodyscre
Added: Feb 10
Changed: Jul 26
Last Checked: Aug 12 at 8:42AM
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 commercial or live-work space features a great open floor plan that is ready for tenant improvements and finishes. The property is being sold as-is.
Owned and street parking are available to support day-to-day access for occupants and visitors.
For sale as a flexible live-work or office configuration, the interior layout provides a straightforward foundation for customizing the space to your use needs.
Owned and street parking are available to support day-to-day access for occupants and visitors.
For sale as a flexible live-work or office configuration, the interior layout provides a straightforward foundation for customizing the space to your use needs.
Key Highlights
- Commercial or live/work space with an open floor plan
- Space is ready for finishes
- Owned and street parking available
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
$21,400
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
5.22%
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%
$428,000
$428.0K
Cap Rate 7%
$305,714
$305.7K
Cap Rate 9%
$237,778
$237.8K
Market Conditions
NOI Build-Up for 1,321 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
$35.7K $27.00/SF
− Vacancy
−$7.1K −$5.40/SF
EGI
$28.5K $21.60/SF
− OpEx
−$7.1K −$5.40/SF
NOI
$21.4K $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%
$428,000
Cap Rate 7%
$305,714
Cap Rate 9%
$237,778
Alternative Uses
Best Use
Office B
$305.7K
$267.5K – $356.7K
NOI $21,400 @ 7.0% cap · market cap 5.22%
Second Best
Mixed Use
$260.4K
$227.9K – $303.8K
NOI $18,230 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$406.0K
$355.3K – $473.7K
NOI $28,423 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
Explore this area
Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - Commercial or live-work space with an open floor plan, ready for finishes, plus owned and street parking.
Where is this live-work space located?
The property is located at 1212 S 11 St Tacoma, WA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Commercial or live/work space with an open floor plan; Space is ready for finishes; Owned and street parking available
