Flex Space with Grade-Level
New
For Sale
$650,000
1763 Center St, Tacoma, WA 98409
M-1-zoned industrial space with three-phase power, loading access, and a split interior configuration.
Property Size4,804 SF
Price / SF$135.30
Days on Market2
Property Features for 1763 Center St
General Information
Standard status
Active
Size
4,804 SF
Property subtype
Industrial
Zoning
M-1
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
10 ft
Warehouse Space
3,604 SF
Office Build-Out
1,200 SF
Drive-In Doors
2
Three-Phase Power
Yes
Amenities
2 - 8’ x 8’ Grade Level Doors
3-Phase Power
10’ Clear Height
Listing Agency:
NAI Puget Sound Properties
Listed By:
Kyle Schipper, SIOR
(425) 417-5477
Source:
Nai-psp
Added: Sep 22
Last Checked: Sep 22 at 1:45PM
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 NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
This 4,804 SF flex property includes 3,604 SF and 1,200 SF sections, providing a divided layout for industrial operations, storage, or other light-industrial functions. The building has two 8' x 8' grade-level doors, 3-phase power, and 10' clear height. M-1 zoning supports its light-industrial positioning.
Located at 1763 Center St in Tacoma's Nalley Valley, the property provides access toward the Puget Sound region via SR-16 and I-5. Its combination of grade-level loading, functional power, and industrial zoning offers a practical format for an owner-user or operator.
Located at 1763 Center St in Tacoma's Nalley Valley, the property provides access toward the Puget Sound region via SR-16 and I-5. Its combination of grade-level loading, functional power, and industrial zoning offers a practical format for an owner-user or operator.
Key Highlights
- 4,804 SF flex property with 3,604 SF and 1,200 SF sections
- Two 8' x 8' grade‑level doors
- M‑1 light industrial zoning
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
$51,710
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
7.96%
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%
$1,034,200
$1.0M
Cap Rate 7%
$738,714
$738.7K
Cap Rate 9%
$574,556
$574.6K
Market Conditions
NOI Build-Up for 4,804 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
$86.5K $18.00/SF
− Vacancy
−$6.9K −$1.44/SF
EGI
$79.6K $16.56/SF
− OpEx
−$27.8K −$5.80/SF
NOI
$51.7K $10.76/SF
Area
Tacoma, WA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,034,200
Cap Rate 7%
$738,714
Cap Rate 9%
$574,556
Alternative Uses
Best Use
Warehouse
$892.3K
$780.7K – $1.04M
NOI $62,458 @ 7.0% cap · market cap 9.61%
Second Best
Flex RnD
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,363 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98409, WA
27,840
Population
12,136
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
3,921
Density / Sq Mi
$71,649
Median Household Income
$43,652
Median Earnings
$1,579
Median Rent
$363,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - M-1-zoned industrial space with three-phase power, loading access, and a split interior configuration.
Where is this flex space located?
The property is located at 1763 Center St Tacoma, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,804 SF flex property with 3,604 SF and 1,200 SF sections; Two 8' x 8' grade‑level doors; M‑1 light industrial zoning
