Building Details

Year Built 1984

Listing Agency: FIRST WESTERN PROPERTIES - TACOMA, INC. p***@firstwesternproperties.com Show Phone

Listed By: PATRIC GRISSOM

Source: Corcoran

Added: Nov 15, 2023 Changed: Aug 8 Last Checked: Aug 8 at 4:44AM

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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 FIRST WESTERN PROPERTIES - TACOMA, INC.

Investment Insights

Based on property information with market context.

This investment property is located in Tacoma, WA. The property benefits from stable income and rent growth, with average rents reported to be 30% below the trade area average. All leases include annual increases. The surrounding area has a strong population of over 148,000 residents and an average household income of $106,992 within a 3-mile radius. The property is located within 1 mile of local anchors.

Key Highlights

• Average rents 30% below trade area average
• Every lease has annual increases
• NOI growth potential

Property Analytics

Property Profile

Current Use

Farmers Insurance - Rosa ... Insurance Agency Clover Daydreams: a safe ... (Bike/Boat/Book/etc) Store Botanicaz Garden Center Credit Saint by ... Financial Advisor Black Sheep Resale Discount Store

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Hotel & Motel Carpet & Flooring Store Storage Facility Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,563

Businesses Nearby

Explore this area Business Placement

Demographics for 98409, WA

27,840

Population

12,136

Households

2.3

Avg Household Size

33

Median Age

21%

College-Educated

87%

High-School Grad

7.1 sq mi

ZIP Area

3,921

Density / Sq Mi

$71,649

Median Household Income

$43,652

Median Earnings

$1,579

Median Rent

$363,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Investment property - Investment property with rental upside and strong demographics in Tacoma.

Where is this investment property located?

The property is located at 4020 Steele St Tacoma, WA.

What is the asking price?

The asking price for this property is $3,950,000.

What are key features of this property?

This property features: Average rents 30% below trade area average; Every lease has annual increases; NOI growth potential