Tacoma Industrial Building with
For Sale
$1,350,000
1904 Stewart St, Tacoma, WA 98421
7,432 SF industrial building with remodeled office space and yard.
Property Size7,432 SF
Price / SF$181.65
Days on Market550
Property Features for 1904 Stewart St
General Information
Standard status
Active
Size
7,432 SF
Site & Location
Neighborhood
New Tacoma
Building Details
Year Built
1968
Listing Agency:
COLDWELL BANKER BAIN-BELLEVUE
Listed By:
MICHAEL FLYNN
Source:
Corcoran
Added: May 6, 2025
Changed: Mar 16
Last Checked: Nov 6 at 8:36AM
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 COLDWELL BANKER BAIN-BELLEVUE
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Investment Insights
Based on property information with market context.
This approximately 7,432 sq. ft. light industrial building is located on the Tacoma Tide Flats, about 4 minutes from Interstate 5. The construction is metal post-and-beam, with metal siding and a metal roof. Approximately 4,080 sq. ft. of office space has been remodeled with new drywall, ceilings, and wiring. This work is unfinished, making it easy to configure the layout to suit. A 2,200 sq. ft. room with two-story clear height has been used for manufacturing and assembly. Two 10' wide doors allow passage of machinery or a tractor-trailer to pass through the building to the rear storage yard. Connected to and behind the manufacturing area is a 3-bay metal storage building, approximately 1,150 sq. ft. in area. The parcel is level and fenced.
Key Highlights
- Conveniently located on the Tacoma Tide Flats, just 4 minutes from Interstate 5.
- Approximately 4,080 sq. ft. of office space is being remodeled, allowing for customizable layout.
- Features a 2,200 sq. ft. room with two‑story clear height suitable for manufacturing and assembly.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,625
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,932,500
$1.9M
Cap Rate 7%
$1,380,357
$1.4M
Cap Rate 9%
$1,073,611
$1.1M
Market Conditions
NOI Build-Up for 7,432 SF
Gross rent
$124.0K $16.68/SF
− Vacancy
−$10.3K −$1.38/SF
EGI
$113.7K $15.30/SF
− OpEx
−$17.1K −$2.29/SF
NOI
$96.6K $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 Rate 5%
$1,932,500
Cap Rate 7%
$1,380,357
Cap Rate 9%
$1,073,611
Alternative Uses
Best Use
Warehouse
$1.38M
$1.21M – $1.61M
NOI $96,625 @ 7.0% cap · market cap 7.16%
Second Best
Industrial
$1.14M
$994.7K – $1.33M
NOI $79,574 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$2.28M
$2.00M – $2.67M
NOI $159,907 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
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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
$1,273
Median Rent
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Manufacturing properties in Pierce County, WA
Properties on Market for Manufacturing properties in Pierce County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 7,432 SF industrial building with remodeled office space and yard.
Where is this manufacturing property located?
The property is located at 1904 Stewart St Tacoma, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Conveniently located on the Tacoma Tide Flats, just 4 minutes from Interstate 5.; Approximately 4,080 sq. ft. of office space is being remodeled, allowing for customizable layout.; Features a **2,200 sq. ft. room with two‑story clear height suitable for manufacturing and assembly**.
