Two-Building Retail and Restaurant
2301 Pacific Ave Tacoma, WA 98402
For Sale
Contact for pricing
Two separate commercial buildings on one parcel, with one leased to a glassblowing studio and a second building vacant.
Property Size4,272 SF
Price / SF$321.86
Days on Market53
Property Features for 2301 Pacific Ave
General Information
Standard status
Active
Size
4,272 SF
Property subtype
RETAIL
Listing Agency:
Venture Real Estate Group
(206) 934-0237
Listed By:
Jamie Langsford
(206) 934-0237
Source:
Moodyscre
Added: Jun 8
Changed: Jul 27
Last Checked: Jul 29 at 2:28PM
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 Venture Real Estate Group
Investment Insights
Based on property information with market context.
This offering features two separate commercial buildings on one parcel. One building is currently leased to an established glassblowing studio, providing in-place rental income. The second building is vacant and was previously home to a successful burger restaurant for many years, offering flexibility for an owner-occupant or a new tenant with restaurant or other commercial concepts.
The property is located at 2301 Pacific Ave in Tacoma, WA 98402.
For buyers seeking a combination of occupancy and optionality, the configuration provides an income-generating component alongside a readily available second building for tailored use.
The property is located at 2301 Pacific Ave in Tacoma, WA 98402.
For buyers seeking a combination of occupancy and optionality, the configuration provides an income-generating component alongside a readily available second building for tailored use.
Key Highlights
- Two separate commercial buildings on one parcel
- One building is leased to an established glassblowing studio for in‑place rental income
- Second building is vacant and was previously home to a long‑running burger restaurant
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.6k | $20.04 |
| − Vacancy | −$3.4k | −$0.80 |
| EGI | $82.2k | $19.24 |
| − OpEx | −$20.5k | −$4.81 |
| NOI | $61.6k | $14.43 |
4,272 SF · lease $20.04/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$880.6K
$770.5K – $1.03M
NOI $61,640 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$734.4K
$642.6K – $856.8K
NOI $51,405 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,916 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Wildflower + Co. — 1744 pacific ave, tacoma, wa 98402
Frequently Asked Questions
What type of property is this?
Storefront property - Two separate commercial buildings on one parcel, with one leased to a glassblowing studio and a second building vacant.
Where is this storefront property located?
The property is located at 2301 Pacific Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two separate commercial buildings on one parcel; One building is leased to an established glassblowing studio for in‑place rental income; Second building is vacant and was previously home to a long‑running burger restaurant
