Tacoma Mixed-Use Investment
For Sale
$1,800,000
3010 6th Avenue, Tacoma, WA 98406
Mixed-use building on 6th Avenue with high pedestrian traffic.
Property Size9,568 SF
Days on Market373
Property Features for 3010 6th Avenue
General Information
Standard status
Active
Size
9,568 SF
Property subtype
Retail
Building Details
Building Size
9,568 SF
Year Built
1950
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
Amanda Hahnemann, CCIM
(206) 852-1640
Source:
Lee-associates
Added: Sep 1, 2025
Changed: Sep 7
Last Checked: Sep 7 at 7:46AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
The Tacoma Bike Building is located on 6th Avenue along the bus line, near restaurants and pedestrian traffic. The property is zoned NCX, allowing for a future mixed-use project. It is positioned as an investment opportunity with long-term cash flow potential.
Key Highlights
- Prime location on bustling 6th Avenue with high pedestrian traffic.
- NCX zoning allows for future mixed‑use development.
- Excellent investment opportunity for long‑term cash flow.
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
$132,038
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
7.34%
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%
$2,640,760
$2.6M
Cap Rate 7%
$1,886,257
$1.9M
Cap Rate 9%
$1,467,089
$1.5M
Market Conditions
NOI Build-Up for 9,568 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
$229.6K $24.00/SF
− Vacancy
−$18.4K −$1.92/SF
EGI
$211.3K $22.08/SF
− OpEx
−$79.2K −$8.28/SF
NOI
$132.0K $13.80/SF
Area
Tacoma, WA
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,640,760
Cap Rate 7%
$1,886,257
Cap Rate 9%
$1,467,089
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.65M – $2.20M
NOI $132,038 @ 7.0% cap · market cap 7.34%
Second Best
Retail
$1.64M
$1.44M – $1.92M
NOI $115,132 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,865 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Electronics 29%
Baskin-Robbins
Dining
4,337 visits/mo
0.5 miles
T-Mobile
Electronics
3,361 visits/mo
0.5 miles
Domino's Pizza
Dining
2,291 visits/mo
0.5 miles
Emerald City Smoothie
Dining
1,508 visits/mo
0.5 miles
Demographics for 98406, WA
22,768
Population
10,748
Households
2.1
Avg Household Size
42
Median Age
48%
College-Educated
96%
High-School Grad
4.2 sq mi
ZIP Area
5,421
Density / Sq Mi
$104,761
Median Household Income
$59,659
Median Earnings
$1,677
Median Rent
$594,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - Mixed-use building on 6th Avenue with high pedestrian traffic.
Where is this retail property located?
The property is located at 3010 6th Avenue Tacoma, WA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location on bustling 6th Avenue with high pedestrian traffic.; NCX zoning allows for future mixed‑use development.; Excellent investment opportunity for long‑term cash flow.
