Advertise
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Tacoma Office/School Building Title is generated by Realmo AI

    2156 Pacific Ave, Tacoma, WA 98402

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Three-story office building near University of Washington and Brewery Blocks.

    Type:OFFICE
    Property size:
    23,400 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $235/SF
    Added:
    Apr 18, 2024
    Days on Market:
    792
    Last Refresh:
    Apr 5 at 8:15 pm

    Property Features for 2156 Pacific Ave

    General Information

    Standard status
    Active
    Size
    23,400 SF
    Lot size
    0.46 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Kyle Prosser
    Kyle Prosser

    Listing agent John Bauder, CCIM

    Listing office Lee & Associates Commercial Real Estate Services

    Listing date Apr 18, 2024

    Source Moodyscre

    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 Lee & Associates Commercial Real Estate Services

    HighLights

    • Three‑story building ideal for single or multi‑tenant occupancy.
    • Office/School buildout already in place featuring classrooms, restrooms, and an elevator.
    • Located in Downtown Tacoma.
    • Adjacent to the University of Washington Tacoma.
    • Adjacent to Brewery Blocks Tacoma.
    • Includes an elevator.

    Overview

    This three-story building is configured for single or multi-tenant use. The interior is built out as an office or school, featuring classrooms, restrooms, and an elevator. The property is located in downtown Tacoma, adjacent to the University of Washington and the Brewery Blocks Tacoma.

    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 $631.8k $27.00
    − Vacancy −$126.4k −$5.40
    EGI $505.4k $21.60
    − OpEx −$126.4k −$5.40
    NOI $379.1k $16.20
    23,400 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $5.42M
    $4.74M – $6.32M (±1% cap)
    NOI $379,080 @ 7.0% cap · market cap 6.89%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $7.19M
    $6.29M – $8.39M (±1% cap)
    NOI $503,474 @ 7.0% cap · market cap 9.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bayview Recovery Medical Clinic Angela Frye Physician Student Financial Aid ... Bank

    Suggested Use

    Restaurant Real Estate Agency Dental Office Building Supply Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.436
    Latitude
    47.2412

    Nearby Similar for Sale

    • $1,799,000

      Mixed-Use Multifamily Investment Opportunity

      Value-add mixed-use multifamily property with income and upside potential.
      9618 Pacific Avenue, Tacoma, WA 98444
      View Details
    • $3,399,000

      Multifamily Opportunity in Tacoma

      Value-add multifamily property with renovation and income growth potential.
      7603 Pacific Avenue, Tacoma, WA 98408
      View Details
    • $2,885,000
      8,640 SF

      Tacoma Warehouse with Secured Yard

      Warehouse with secured yard, close to major highways and port.
      10324 Portland Ave E, Tacoma, WA 98445
      View Details
    • $2,625,000
      12,000 SF

      Downtown Tacoma Investment Property

      Fully leased 12,000 SF building in downtown Tacoma for sale.
      102 Puyallup Avenue, Tacoma, WA 98421
      View Details
    • $1,450,000
      25,500 SF

      Tacoma Redevelopment Opportunity

      25,500 SF building on 9,184 SF site in downtown Tacoma.
      919 Market Street, Tacoma, WA 98402
      View Details
    • $2,625,000
      12,000 SF

      Tacoma Investment Property For Sale

      Fully leased 12,000 SF building in downtown Tacoma.
      102 Puyallup Avenue, Tacoma, WA 98421
      View Details
    • $2,200,000
      8,820 SF

      Downtown Tacoma Owner-User Opportunity

      Prime office building in vibrant Tacoma near popular attractions.
      2306 A St, Tacoma, WA 98402
      View Details
    • $2,995,000
      8,742 SF

      Historic Office Mansion with Penthouse

      Landmark office property with executive suites and a top-floor penthouse apartment in Tacoma’s downtown core.
      401 Broadway, Tacoma, WA 98402
      View Details
    • $2,100,000
      4,128 SF

      Tacoma Industrial Property with Yard

      Industrial property with secure yard and renovated office space.
      816 99th Street E, Tacoma, WA 98445
      View Details
    • $3,539,000
      9,424 SF

      Tacoma Retail Center For Sale

      9,424 SF retail center in Tacoma, WA for sale.
      11401 Steele Street South, Tacoma, WA, 98444
      View Details
    • $1,350,000
      36,000 SF

      Industrial Property with Outdoor Storage

      Industrial property featuring outdoor storage, office, and garage/warehouse space.
      7517 Portland Ave E, Tacoma, WA 98404
      View Details
    • $550,000
      2,924 SF

      Three-Unit Office Building

      Well-maintained three-unit office building with a newly installed 30-year roof and long-term occupancy in Tacoma.
      820-820 S 6th Ave, Tacoma, WA 98405
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story office building near University of Washington and Brewery Blocks.
    Where is this office building located?
    The property is located at 2156 Pacific Ave Tacoma, WA.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Three‑story building ideal for single or multi‑tenant occupancy.; Office/School buildout already in place featuring classrooms, restrooms, and an elevator.; Located in Downtown Tacoma.
    (253) 383-8382 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kyle Prosser
    Kyle Prosser
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2156 Pacific Ave, Tacoma, WA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!