Standalone Office
3108 South Union Tacoma, WA 98409
3108 South Union, Tacoma, WA, 98409
$499,000
For Sale
$499,000
Standalone two-floor office building with reception, private offices, kitchenette, and two restrooms, plus on-site parking.
Property Size2,605 SF
Price / SF$191.55
Days on Market146
Property Features for 3108 South Union
General Information
- Standard status
- Active
- Size
- 2,605 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1973
Listing agency
John L. Scott R.E. Lake Tapps
(253) 863-4406
Listed by
Lauri Mcleod
Source
Xome
Added: Feb 25 Updated: Jul 20 at 8:14PM Checked: Jul 21 at 3:11AM
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 John L. Scott R.E. Lake Tapps
Investment Insights
Based on property information with market context.
Standalone commercial office building with two finished floors totaling 2,605 square feet. The interior layout includes a reception area, two private offices with additional room to expand, storage, and a kitchenette. The building also features two restrooms and a large open room with bamboo flooring beneath the carpet that can be closed off for privacy.
Updated over time with electrical and plumbing improvements, the building is served by gas heat. Recent interior updates include fresh paint and new carpet, creating a clean environment for immediate occupancy.
The property includes three separate entrances and is accessed via two separate driveways. Ten-plus on-site parking spaces support employee and customer needs.
Updated over time with electrical and plumbing improvements, the building is served by gas heat. Recent interior updates include fresh paint and new carpet, creating a clean environment for immediate occupancy.
The property includes three separate entrances and is accessed via two separate driveways. Ten-plus on-site parking spaces support employee and customer needs.
Key Highlights
- Standalone two‑floor office building with 2,605 SF across 2 finished floors for flexible business use
- Interior includes a reception area, two private offices (with room for more), storage, and a kitchenette
- Features 2 restrooms and a large open room with bamboo flooring (currently under carpet) plus privacy options
Local Financial Insights For Office B
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 | $70.3k | $27.00 |
| − Vacancy | −$14.1k | −$5.40 |
| EGI | $56.3k | $21.60 |
| − OpEx | −$14.1k | −$5.40 |
| NOI | $42.2k | $16.20 |
2,605 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$602.9K
$527.5K – $703.4K
NOI $42,201 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$800.7K
$700.6K – $934.2K
NOI $56,049 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
K M Resorts ...
Hotel & Motel
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FAQs
What type of property is this?
Office building - Standalone two-floor office building with reception, private offices, kitchenette, and two restrooms, plus on-site parking.
Where is this office building located?
The property is located at 3108 South Union Tacoma, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Standalone two‑floor office building with 2,605 SF across 2 finished floors for flexible business use; Interior includes a reception area, two private offices (with room for more), storage, and a kitchenette; Features 2 restrooms and a large open room with bamboo flooring (currently under carpet) plus privacy options
