Divisible Warehouse with Excess
For Sale
Contact for pricing
1815 East D Street, Tacoma, WA 98421
Large warehouse with 10 dock-high and 5 ground-level doors, offering divisible space and substantial clear heights.
Property Size68,300 SF
Lot Size2.70 Acres
Price / SF$145
Days on Market35
Property Features for 1815 East D Street
General Information
Standard status
Active
Size
68,300 SF
Lot size
2.70 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
10
Drive-In Doors
5
Heavy Power
Yes
Listing Agency:
NAI Puget Sound Properties
(425) 246-9280
Listed By:
Arie Salomon, SIOR, CCIM
(425) 246-9280
Source:
Moodyscre
Added: Jul 9
Changed: Jul 27
Last Checked: Aug 11 at 6:15AM
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 NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
This warehouse on 2.7 acres includes 98,300 SF total building area with 7,500 SF of office space. The facility is divisible into two warehouse areas: 68,300 SF and 30,000 SF, allowing flexibility for multiple occupants or phased tenancy. Clear heights are reported as 12’ to 20’ for the 68,300 SF portion and 12’ to 15’ for the 30,000 SF portion. Loading includes 10 dock-high (DH) doors and 5 ground-level (GL) doors. The property is also described as having excessive power, supporting higher-demand industrial uses.
The property is located at 1815 East D Street in Tacoma, WA 98421 and is available for sale, with the opportunity to subdivide and sell a portion of the building.
The property is located at 1815 East D Street in Tacoma, WA 98421 and is available for sale, with the opportunity to subdivide and sell a portion of the building.
Key Highlights
- 2.7‑acre property with 98,300 SF total building area, including 7,500 SF office space
- Space is divisible into 68,300 SF and 30,000 SF units for flexible tenancy
- 68,300 SF area features 12'–20' clear height and 10 dock‑high doors
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
$887,984
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
8.97%
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%
$17,759,680
$17.8M
Cap Rate 7%
$12,685,486
$12.7M
Cap Rate 9%
$9,866,489
$9.9M
Market Conditions
NOI Build-Up for 68,300 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
$1.14M $16.68/SF
− Vacancy
−$94.6K −$1.38/SF
EGI
$1.04M $15.30/SF
− OpEx
−$156.7K −$2.29/SF
NOI
$888.0K $13.00/SF
Area
Tacoma, WA
Vacancy
8.30%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
15.00%
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%
$17,759,680
Cap Rate 7%
$12,685,486
Cap Rate 9%
$9,866,489
Alternative Uses
Best Use
Warehouse
$12.69M
$11.10M – $14.80M
NOI $887,984 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.99M
$18.37M – $24.49M
NOI $1,469,543 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Dock-high doors
5
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
3,139
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98421, WA
1,239
Population
78
Households
15.9
Avg Household Size
34
Median Age
25%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
191
Density / Sq Mi
$1,273
Median Rent
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Extra Space Storage — 216 Puyallup Ave, Tacoma, WA 98421
- Self Storage — 620 e 26th st, tacoma, wa 98421
- Foss Landing Marina — 1940 E D St, Tacoma, WA 98421
- Tacoma Self Storage — 2602 S Holgate St, Tacoma, WA 98402
Frequently Asked Questions
What type of property is this?
Warehouse - Large warehouse with 10 dock-high and 5 ground-level doors, offering divisible space and substantial clear heights.
Where is this warehouse located?
The property is located at 1815 East D Street Tacoma, WA.
What is the asking price?
The asking price for this property is $9,903,500.
What are key features of this property?
This property features: 2.7‑acre property with 98,300 SF total building area, including 7,500 SF office space; Space is divisible into 68,300 SF and 30,000 SF units for flexible tenancy; 68,300 SF area features 12'–20' clear height and 10 dock‑high doors
