Bank Property with
New
For Sale
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3607 6th Ave, Tacoma, WA 98406
Existing commercial property combining a bank asset with an accompanying land parcel.
Property Size4,206 SF
Lot Size0.44 Acres
Price / SF$392.30
Days on Market4
Property Features for 3607 6th Ave
General Information
Standard status
Active
Size
4,206 SF
Lot size
0.44 Acres
Property subtype
RETAIL
Additional Details
Corner Location
No
Liquor License
No
Listing Agency:
CBRE
(206) 292-1600
Listed By:
Dan McGinnis
(206) 292-6092
Source:
Moodyscre
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 1:59PM
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 CBRE
Investment Insights
Based on property information with market context.
This bank property at 3607 6th Ave in Tacoma, Washington, includes 4,206 square feet of property improvements and approximately 0.44 acres of land. The land area is also identified as approximately 19,200± square feet.
Key Highlights
- Bank property classification
- 4,206 square feet of property improvements
- Approximately 0.44 acres of land
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
$60,688
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
3.68%
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%
$1,213,760
$1.2M
Cap Rate 7%
$866,971
$867.0K
Cap Rate 9%
$674,311
$674.3K
Market Conditions
NOI Build-Up for 4,206 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
$84.3K $20.04/SF
− Vacancy
−$3.4K −$0.80/SF
EGI
$80.9K $19.24/SF
− OpEx
−$20.2K −$4.81/SF
NOI
$60.7K $14.43/SF
Area
Tacoma, WA
Vacancy
4.00%
Lease Rate
$20.04 /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%
$1,213,760
Cap Rate 7%
$866,971
Cap Rate 9%
$674,311
Alternative Uses
Best Use
Specialty Retail
$867.0K
$758.6K – $1.01M
NOI $60,688 @ 7.0% cap · market cap 3.68%
Second Best
Retail
$723.0K
$632.6K – $843.5K
NOI $50,611 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,496 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Shell
Shops & Services
5,484 visits/mo
0.4 miles
AutoZone
Shops & Services
4,562 visits/mo
0.1 miles
7-Eleven
Shops & Services
4,492 visits/mo
0.4 miles
Wells Fargo
Shops & Services
3,552 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
3,269 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Bank - Existing commercial property combining a bank asset with an accompanying land parcel.
Where is this bank located?
The property is located at 3607 6th Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Bank property classification; 4,206 square feet of property improvements; Approximately 0.44 acres of land
