Furnished Office Suite with Private
For Sale
Contact for pricing
12202 Pacific Ave S, Tacoma, WA 98444
Remodeled, furnished Class B office suite offers four private offices and conference room with flexibility at availability.
Property Size5,938 SF
Price / SF$370.50
Days on Market259
Property Features for 12202 Pacific Ave S
General Information
Standard status
Active
Size
5,938 SF
Class
B
Property subtype
Office, Retail
Zoning
Towne Center
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$153,326
Additional Details
Cap Rate
6.75%
Highway Access
Yes
Building Details
Year Built
1964
Year Renovated
2024
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
C & J Realty LLC
Listed By:
Cassandra Day · License #25006802
(253) 307-4677
Source:
Crexi
Added: Dec 29, 2025
Changed: Sep 4
Last Checked: Sep 13 at 7:56AM
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 C & J Realty LLC
Investment Insights
Based on property information with market context.
12202 Pacific Ave S, Tacoma, WA 98444 presents a fully leased office asset with approximately 1,822 SF available, with the seller willing to lease back or vacate. The space is professionally maintained and described as having an established operating history.
The offering includes an extensively remodeled Class B office suite of approximately 1,800 SF, fully furnished with built-in desks, four private offices, a conference room, and dedicated storage. Seller-provided performance context indicates an approximate 6.75% in-place cap rate supported by stable, in-place income. Capital improvements were completed in 2024.
Access and visibility are emphasized along the Pacific Avenue corridor, with immediate freeway access to Hwy 512 and I-5. The current tenant mix is described as diverse, which may help reduce rollover risk and support longer-term stability for an owner-occupied or investment-focused buyer.
The offering includes an extensively remodeled Class B office suite of approximately 1,800 SF, fully furnished with built-in desks, four private offices, a conference room, and dedicated storage. Seller-provided performance context indicates an approximate 6.75% in-place cap rate supported by stable, in-place income. Capital improvements were completed in 2024.
Access and visibility are emphasized along the Pacific Avenue corridor, with immediate freeway access to Hwy 512 and I-5. The current tenant mix is described as diverse, which may help reduce rollover risk and support longer-term stability for an owner-occupied or investment-focused buyer.
Key Highlights
- Extensively remodeled Class B office suite, approximately 1,800 SF
- Fully furnished with built‑in desks, four private offices, and conference room
- Approximately 1,822 SF available; seller willing to lease back or vacate
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
$96,196
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
4.37%
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%
$1,923,920
$1.9M
Cap Rate 7%
$1,374,229
$1.4M
Cap Rate 9%
$1,068,844
$1.1M
Market Conditions
NOI Build-Up for 5,938 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
$160.3K $27.00/SF
− Vacancy
−$32.1K −$5.40/SF
EGI
$128.3K $21.60/SF
− OpEx
−$32.1K −$5.40/SF
NOI
$96.2K $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%
$1,923,920
Cap Rate 7%
$1,374,229
Cap Rate 9%
$1,068,844
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $96,196 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,762 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Remodeled, furnished Class B office suite offers four private offices and conference room with flexibility at availability.
Where is this office units located?
The property is located at 12202 Pacific Ave S Tacoma, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Extensively remodeled Class B office suite, approximately 1,800 SF; Fully furnished with built‑in desks, four private offices, and conference room; Approximately 1,822 SF available; seller willing to lease back or vacate
