Historic Mixed-Use Commercial
1315 S 23RD ST Tacoma, WA 98405
1315 S 23RD ST, Tacoma, WA, 98405
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For Sale
Contact for pricing
1910-built commercial property with versatile retail and mixed-use layout, including a lower-level kitchen and multiple upstairs baths.
Property Size5,840 SF
Price / SF$128.42
Days on Market79
Property Features for 1315 S 23RD ST
General Information
- Standard status
- Active
- Size
- 5,840 SF
- Property subtype
- Retail, Multifamily, Mixed Use
Building Details
- Year Built
- 1910
Listing agency
John L. Scott Real Estate
Listed by
Pete Hoberg · License #WA 38570
Source
Crexi
Added: May 6 Updated: Jul 21 at 3:30PM Checked: Jul 22 at 5:26PM
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 John L. Scott Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1910, this commercial building offers flexible space for retail or mixed-use use cases (buyer to verify). The lower level includes a functional kitchen and a half bath. Upstairs features multiple rooms of varying sizes, along with a 1½ bath and an additional full bath, supporting reconfiguration into different layouts.
Located at 1315 S 23rd St in Tacoma, WA, the property sits in a zoning designation of C2-STGPD: General Community Commercial District, within the South Tacoma Groundwater Protection District. Residential uses are allowed in commercial districts, per the provided remarks.
With a total size of 5,840 sq ft, the building’s room count and adaptable interior configuration are suited for buyers looking to tailor the space through renovation, restoration, or repurposing.
Located at 1315 S 23rd St in Tacoma, WA, the property sits in a zoning designation of C2-STGPD: General Community Commercial District, within the South Tacoma Groundwater Protection District. Residential uses are allowed in commercial districts, per the provided remarks.
With a total size of 5,840 sq ft, the building’s room count and adaptable interior configuration are suited for buyers looking to tailor the space through renovation, restoration, or repurposing.
Key Highlights
- 1910‑built commercial building with 5,840 sq ft of versatile space for retail or mixed‑use conversion
- Lower level includes a functional kitchen and a half bath
- Upper level features multiple rooms plus 1½ bath with an additional full bath for flexible reconfiguration
Local Financial Insights For Apartment 5plus
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 | $128.2k | $21.96 |
| − Vacancy | −$6.7k | −$1.14 |
| EGI | $121.6k | $20.82 |
| − OpEx | −$54.7k | −$9.37 |
| NOI | $66.9k | $11.45 |
5,840 SF · lease $21.96/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Mixed Use
$1.15M
$1.01M – $1.34M
NOI $80,592 @ 7.0% cap · market cap 10.75%
Second Best
Retail
$1.00M
$878.4K – $1.17M
NOI $70,273 @ 7.0% cap · market cap 9.37%
Theoretical Best
Office A
$1.80M
$1.57M – $2.09M
NOI $125,653 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Trains Fabrics Etc
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 1910-built commercial property with versatile retail and mixed-use layout, including a lower-level kitchen and multiple upstairs baths.
Where is this mixed-use property located?
The property is located at 1315 S 23RD ST Tacoma, WA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1910‑built commercial building with 5,840 sq ft of versatile space for retail or mixed‑use conversion; Lower level includes a functional kitchen and a half bath; Upper level features multiple rooms plus 1½ bath with an additional full bath for flexible reconfiguration
