Downtown Tacoma Mixed-Use
2505 Tacoma Avenue S Tacoma, WA 98402
2505 Tacoma Avenue S, Tacoma, WA, 98402
$239,000
For Sale
$239,000
Mixed-use property in downtown Tacoma with WR zoning.
Property Size1,320 SF
Lot Size0.07 Acres
Price / SF$181.06
Days on Market782
Property Features for 2505 Tacoma Avenue S
General Information
- Standard status
- Active
- Size
- 1,320 SF
- Lot size
- 0.07 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1940
Listing agency
GOLDHOUSE REALTY
(253) 254-6139
Listed by
LIBBY WILLIAMS
Source
Corcoran
Added: May 31, 2024 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 5:15AM
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 GOLDHOUSE REALTY
Investment Insights
Based on property information with market context.
This 1,320 square foot building is located in downtown Tacoma on a 3,000 square foot lot. The property is zoned WR for Multi-family, Commercial, Business, Retail Storefront and Mixed-use Development. It is located in close proximity to eateries, entertainment, transportation hubs, and historic cultural attractions. The location offers commuting connectivity for residents and businesses.
Key Highlights
- Coveted WR Zoning: Allows for Multi‑family, Commercial, Business, Retail Storefront, and Mixed‑use Development.
- Prime Downtown Tacoma Location: Situated in a vibrant urban area.
- 1,320 sq. ft. Building on a 3,000 sq ft Lot: Offers a substantial footprint.
Local Financial Insights For Mixed Use
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 | $31.7k | $24.00 |
| − Vacancy | −$2.5k | −$1.92 |
| EGI | $29.1k | $22.08 |
| − OpEx | −$10.9k | −$8.28 |
| NOI | $18.2k | $13.80 |
1,320 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$260.2K
$227.7K – $303.6K
NOI $18,216 @ 7.0% cap · market cap 7.62%
Second Best
Retail
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$405.7K
$355.0K – $473.4K
NOI $28,401 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property in downtown Tacoma with WR zoning.
Where is this mixed-use property located?
The property is located at 2505 Tacoma Avenue S Tacoma, WA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Coveted WR Zoning: Allows for Multi‑family, Commercial, Business, Retail Storefront, and Mixed‑use Development.; Prime Downtown Tacoma Location: Situated in a vibrant urban area.; 1,320 sq. ft. Building on a 3,000 sq ft Lot: Offers a substantial footprint.
