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North Tacoma Multi-Unit Commercial Building

201 N I St, Tacoma, WA 98403

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For Sale

$799,000

Turn-key commercial building in Tacoma's historic Stadium district.

Property size:

2,500 SF

Lot size:

0.07 Acres

Price / SF:

$319/SF

HighLights

Prime location in North Tacoma's Historic Stadium District, near key landmarks and the Tacoma Light Rail.
Turn‑key multi‑unit commercial building with two units.
Main unit features a spacious 2500 SqFt layout with a beautiful lobby and five private offices, ideal for office space.
Second unit has a separate entrance, two offices, and a lobby with excellent daylight.
ADA‑accessible building with updated electrical and plumbing (2006‑07).
Neighborhood/Commercial NCX Zone offers various development opportunities.

We can help!

Listing Contact

Craig Tuttle

For Sale

$799,000

Turn-key commercial building in Tacoma's historic Stadium district.

Property size:

2,500 SF

Lot size:

0.07 Acres

Price / SF:

$319/SF

Added:: Nov 3, 2025
Days on Market:: 232
Last Refresh:: Jan 20 at 11:13 am

Property Features for 201 N I St

General Information

Standard status: Active
Size: 2,500 SF
Lot size: 0.07 Acres

We can help!

Listing Contact

Craig Tuttle

Listing agent Craig Tuttle

Listing office Realty One Group Turn Key

Listing date Nov 3, 2025

Source Exprealty

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 Realty One Group Turn Key

HighLights

Prime location in North Tacoma's Historic Stadium District, near key landmarks and the Tacoma Light Rail.
Turn‑key multi‑unit commercial building with two units.
Main unit features a spacious 2500 SqFt layout with a beautiful lobby and five private offices, ideal for office space.
Second unit has a separate entrance, two offices, and a lobby with excellent daylight.
ADA‑accessible building with updated electrical and plumbing (2006‑07).
Neighborhood/Commercial NCX Zone offers various development opportunities.

Overview

This multi-unit commercial building is located in North Tacoma, in the heart of the historic Stadium district, near Wright Park, Tacoma General, the County Court House, and City of Tacoma Buildings. Both units have access to N I St and are located less than a block from the Tacoma Light Rail. The main unit features over 2500 square feet, a lobby, five private offices, and an additional large room, suitable for office space. The adjoining second unit has its own entrance, two offices, and a lobby with daylight. The building is ADA-accessible. Electrical and plumbing were updated in 2006-07 during a full building remodel. New construction is underway next door. The property is zoned Neighborhood/Commercial NCX, offering various development opportunities.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$67.5k	$27.00
− Vacancy	−$13.5k	−$5.40
EGI	$54.0k	$21.60
− OpEx	−$13.5k	−$5.40
NOI	$40.5k	$16.20

2,500 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$578.6K

$506.3K – $675.0K (±1% cap)

NOI $40,500 @ 7.0% cap · market cap 5.07%

Second Best

—

no second resolved use

Theoretical Best

Office A

$768.4K

$672.4K – $896.5K (±1% cap)

NOI $53,790 @ 7.0% cap · market cap 6.73%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Alison Kerr Alternative Medicine Practice Timsobiept/Alliantcare.Com Physician Grace J. Harstad, ... Physician Alliant Physical Therapy ... Medical Clinic The Alliant Building Corporate Office

Suggested Use

Location Insight

Map
Local Demand

City: Tacoma
County: Pierce
State: Washington
Longitude: -122.452
Latitude: 47.2626

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For sale
Office buildings
WA
Tacoma
98403
201 N I St

What type of property is this?

Office building - Turn-key commercial building in Tacoma's historic Stadium district.

Where is this office building located?

The property is located at 201 N I St Tacoma, WA.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Prime location in North Tacoma's Historic Stadium District, near key landmarks and the Tacoma Light Rail.; Turn‑key multi‑unit commercial building with two units.; Main unit features a spacious 2500 SqFt layout with a beautiful lobby and five private offices, ideal for office space.