Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2115 56Th St Tacoma, WA 98409

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,331 /Mo ($22 SF/Yr)

    Office building with on-site parking and immediate freeway access.

    Property size:
    726 SF
    Lot size:
    726 SF

    Property Features for 2115 56Th St

    General Information

    Standard status
    Active
    Size
    726 SF

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    Shane Crook
    Source: Corcoran

    Listing Agency: NWC - KV LLC Listing Agent: Shane Crook

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Building For Lease

    This office building offers a lease rate of $22 per square foot per year, NNN. On-site parking is available at a ratio of 4.2 spaces per 1,000 square feet. The property features frontage along Tacoma Mall Boulevard and South 56th Street, providing visibility and accessibility. The building is currently undergoing a refresh, including a new roof. Immediate access to Interstate 5 is available via the 56th Street on-ramps. The property is an office building with a variety of current tenants.
    Location Intelligence

    Current Use by Public Records

    Moona Nausheen Khan Dental Office Robert E. Sands, ... Physician Acupuncture Northwest & Associates Medical Clinic Bird Hunting Mexico Hunting Club Fastest Labs of Tacoma Drug Testing Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4642926
    Latitude
    47.2068203

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Downtown Pacific Avenue

      Workspaces, services and support to help you work better in Miami Airport
      1201 Pacific Ave, Tacoma, WA 98402
      View Details
    • $30 SF/Yr
      1,946 SF

      Tacoma CBD Office Space Available

      Office space in Tacoma CBD with updated amenities and parking.
      950 Pacific Ave, Tacoma, WA 98402
      View Details
    • $23 SF/Yr
      12,000 SF

      Downtown Tacoma Building with Parking

      12,005 SF building available for lease in downtown Tacoma.
      2111 Pacific Ave, Tacoma, WA 98402
      View Details
    • $24 SF/Yr
      5,636 SF

      Pacific Avenue Retail Space Available

      Retail space available in the Annex Building on Pacific Avenue.
      1411-1423 Pacific Ave, Tacoma, WA 98402
      View Details
    • New
      $872 /Mo
      299 SF

      Tacoma CBD Office Space Available

      Office space for rent in the heart of Tacoma.
      950 Pacific Ave, Tacoma, WA 98402
      View Details
    • New
      $2,340 /Mo
      1,003 SF

      Professional Office Space Available

      Professional office park with excellent access and ample parking.
      2102 Pearl St, Tacoma, WA 98406
      View Details
    • New
      $1,750 /Mo
      750 SF

      Tacoma Office Space For Rent

      Office space available for lease in Tacoma, Washington.
      2102 Pearl St, Tacoma, WA 98406
      View Details
    • $3,900 /Mo
      29,238 SF

      Multi-Story Office Building For Rent

      Well-maintained office building in a desirable, walkable location.
      1142 Broadway, Tacoma, WA 98402
      View Details
    • New
      $4,010 /Mo
      1,375 SF

      Downtown Tacoma Office Space Available

      Office space for lease in downtown Tacoma's Rhodes Center.
      950 Broadway, Tacoma, WA 98402
      View Details
    • New
      $3,077 /Mo
      1,846 SF

      Prime Tacoma Commercial Unit

      Versatile commercial unit in historic Tacoma building for rent.
      744 Market St, Tacoma, WA 98402
      View Details
    • New
      $2,001 /Mo
      1,330 SF

      Neighborhood Office Space Available

      Office space available for rent in excellent condition.
      2715 64Th Ave NE, Tacoma, WA 98422
      View Details
    • $21 SF/Yr
      4,072 SF

      Class A Office Space Available

      4,072 SF Class A office space near Tacoma Mall.
      6050 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with on-site parking and immediate freeway access.
    Where is this office building located?
    The property is located at 2115 56Th St Tacoma, WA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Immediate access to I-5 via 56th St on-ramps; - On-site parking (4.2/1,000); - Frontage along Tacoma Mall Blvd and S 56th St
    Request Owner's contact information
    2115 56Th St Tacoma, WA 98409
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2115 56Th St
    Tacoma, WA 98409
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2115 56Th St Tacoma, WA 98409
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Shane Crook
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!