Flex Warehouse with
For Sale
Contact for pricing
2306 A St, Tacoma, WA 98402
Flex property includes dedicated office space and warehouse with 18' clear height, heavy power, and a single GL door.
Property Size8,820 SF
Lot Size0.14 Acres
Price / SF$214.85
Days on Market559
Property Features for 2306 A St
General Information
Standard status
Active
Size
8,820 SF
Total Parking Spaces
8
Lot size
0.14 Acres
Property subtype
RETAIL
Zoning
WR
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Heavy Power
Yes
Listing Agency:
NAI Puget Sound Properties
(425) 586-5600
Listed By:
Bret Matysik, SIOR, CCIM
(425) 586-5617
Source:
Moodyscre
Added: Mar 6, 2025
Changed: Sep 5
Last Checked: Sep 15 at 7:45AM
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 flex-style property offers a mix of office and warehouse space, totaling 8,820 square feet (buyer to confirm). The interior was recently refreshed and includes 4,969 square feet of office area and 3,851 square feet of warehouse space. Warehouse features include an 18' clear height and one GL door. The property also has heavy power and secure indoor parking for up to eight vehicles.
The site is located in Downtown Tacoma and sits on a 0.14-acre lot. It is served by WR zoning described as a Warehouse/Residential District.
For owner-users or flexible occupancies that need on-site office support along with warehouse improvements, this configuration provides a straightforward split between work space and office space, with secure indoor parking and warehouse loading via the GL door.
The site is located in Downtown Tacoma and sits on a 0.14-acre lot. It is served by WR zoning described as a Warehouse/Residential District.
For owner-users or flexible occupancies that need on-site office support along with warehouse improvements, this configuration provides a straightforward split between work space and office space, with secure indoor parking and warehouse loading via the GL door.
Key Highlights
- Flex property in Downtown Tacoma with dedicated 4,969 SF office and 3,851 SF warehouse
- 18' clear height in the warehouse area
- Secure indoor parking for up to 8 vehicles
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
$142,884
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
7.54%
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%
$2,857,680
$2.9M
Cap Rate 7%
$2,041,200
$2.0M
Cap Rate 9%
$1,587,600
$1.6M
Market Conditions
NOI Build-Up for 8,820 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
$238.1K $27.00/SF
− Vacancy
−$47.6K −$5.40/SF
EGI
$190.5K $21.60/SF
− OpEx
−$47.6K −$5.40/SF
NOI
$142.9K $16.20/SF
Area
Tacoma, WA
Vacancy
20.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,857,680
Cap Rate 7%
$2,041,200
Cap Rate 9%
$1,587,600
Alternative Uses
Best Use
Office B
$2.04M
$1.79M – $2.38M
NOI $142,884 @ 7.0% cap · market cap 7.54%
Second Best
Warehouse
$1.64M
$1.43M – $1.91M
NOI $114,671 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,771 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98402, WA
8,053
Population
4,788
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
6,711
Density / Sq Mi
$54,712
Median Household Income
$43,145
Median Earnings
$1,478
Median Rent
$558,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property includes dedicated office space and warehouse with 18' clear height, heavy power, and a single GL door.
Where is this flex space located?
The property is located at 2306 A St Tacoma, WA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Flex property in Downtown Tacoma with dedicated 4,969 SF office and 3,851 SF warehouse; 18' clear height in the warehouse area; Secure indoor parking for up to 8 vehicles
