Two-Story Office
For Sale
Contact for pricing
5005 Center St, Tacoma, WA 98409
Office and retail suites provide private restrooms, with parking as the property’s only shared area.
Property Size8,492 SF
Price / SF$353.27
Days on Market53
Property Features for 5005 Center St
General Information
Standard status
Active
Size
8,492 SF
Property subtype
OFFICE
Occupancy
80%
Site & Location
Neighborhood
Central
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Kidder Mathews
(253) 722-1400
Listed By:
Cory Naber · License #51689
(253) 722-1456
Source:
Moodyscre
Added: Sep 15
Changed: Oct 25
Last Checked: Nov 4 at 3:02PM
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 Kidder Mathews
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story office building contains a mix of office and retail suites totaling 8,492 square feet. Each suite has a private restroom, while the parking lot is the only common area serving the property. The building is currently 80% occupied, with tenants described as long-term occupants who have remained in place for many years.
Key Highlights
- 8,492‑square‑foot two‑story office building
- Mix of office and retail tenants
- Each suite includes its own restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,570
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,751,400
$2.8M
Cap Rate 7%
$1,965,286
$2.0M
Cap Rate 9%
$1,528,556
$1.5M
Market Conditions
NOI Build-Up for 8,492 SF
Gross rent
$229.3K $27.00/SF
− Vacancy
−$45.9K −$5.40/SF
EGI
$183.4K $21.60/SF
− OpEx
−$45.9K −$5.40/SF
NOI
$137.6K $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 Rate 5%
$2,751,400
Cap Rate 7%
$1,965,286
Cap Rate 9%
$1,528,556
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.29M
NOI $137,570 @ 7.0% cap · market cap 4.59%
Second Best
Mixed Use
$1.67M
$1.46M – $1.95M
NOI $117,190 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,714 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
380
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office and retail suites provide private restrooms, with parking as the property’s only shared area.
Where is this office building located?
The property is located at 5005 Center St Tacoma, WA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 8,492‑square‑foot two‑story office building; Mix of office and retail tenants; Each suite includes its own restroom
