Downtown Tacoma Commercial
1545 Tacoma Avenue S Tacoma, WA 98402
1545 Tacoma Avenue S, Tacoma, WA, 98402
$1,800,000
For Sale
$1,800,000
Two commercial properties in downtown Tacoma with development opportunities.
Property Size4,000 SF
Lot Size0.34 Acres
Price / SF$450
Days on Market175
Property Features for 1545 Tacoma Avenue S
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.34 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing agency
WATSON HOMES AND LAND
(253) 549-8069
Listed by
SEAN L WATSON
Source
Corcoran
Added: Jan 28 Updated: Jul 6 at 9:59AM Checked: Jul 21 at 8:59AM
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 WATSON HOMES AND LAND
Investment Insights
Based on property information with market context.
Two adjacent commercial properties are available in Downtown Tacoma. One property features an office building with a daylight basement, encompassing nearly 4000 square feet and situated on a 6000 square foot lot. The building includes street-level entry and alley access, multiple bathrooms, private office spaces, conference rooms, storage areas, and off-street parking. The purchase also includes an adjacent 9000 square foot vacant lot with main street and alley access. The properties offer views of Mt. Rainier and city lights. The combined properties provide 15000 square feet of space. New housing is under construction in the vicinity. The properties are centrally located with access to transportation, restaurants, shops, recreation, the UW Tacoma Campus, St. Josephs Medical Center, and parks. Easy access to Downtown Tacoma and I-5. The commercial zoning allows for development opportunities.
Key Highlights
- Two side‑by‑side commercial properties totaling 15,000 sqft in Downtown Tacoma.
- Includes a 4,000 sqft office building and a 9,000 sqft vacant lot.
- Generous commercial zoning allows for diverse development options.
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 | $108.0k | $27.00 |
| − Vacancy | −$21.6k | −$5.40 |
| EGI | $86.4k | $21.60 |
| − OpEx | −$21.6k | −$5.40 |
| NOI | $64.8k | $16.20 |
4,000 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$925.7K
$810.0K – $1.08M
NOI $64,800 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,064 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Tahoma Associates
Charitable Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two commercial properties in downtown Tacoma with development opportunities.
Where is this office building located?
The property is located at 1545 Tacoma Avenue S Tacoma, WA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two side‑by‑side commercial properties totaling 15,000 sqft in Downtown Tacoma.; Includes a 4,000 sqft office building and a 9,000 sqft vacant lot.; Generous commercial zoning allows for diverse development options.
