Mixed-Use Building with Office
For Sale
Contact for pricing
5314-5316 S Orchard St, Tacoma, WA 98467
Corner positioning at S Orchard St and 53rd St W delivers exposure to nearly 21,000 vehicles daily.
Property Size10,097 SF
Price / SF$160.94
Days on Market161
Property Features for 5314-5316 S Orchard St
General Information
Standard status
Active
Size
10,097 SF
Property subtype
Mixed Use, Office
Occupancy
33%
Investment Type
Owner/User
Building Details
Year Built
1983
Year Renovated
2024
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Seattle
Listed By:
Dylan Wolf · License #WA134386
Source:
Crexi
Added: Mar 24
Changed: Aug 31
Last Checked: Aug 31 at 6:51AM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
Orchard Professional Center is a multi-tenant mixed-use property containing 10,097 SF of flexible space. The building includes a first-floor office component, a finished basement with warehouse space, and one residential apartment unit. Two office suites are currently available for lease, allowing occupancy of either suite or both together.
The property occupies the corner of 53rd St W and South Orchard Street in Tacoma’s University Place neighborhood. Nearly 21,000 vehicles pass the intersection daily, providing substantial traffic exposure. The 1983 building combines office, warehouse, and residential elements within a single commercial property.
The property occupies the corner of 53rd St W and South Orchard Street in Tacoma’s University Place neighborhood. Nearly 21,000 vehicles pass the intersection daily, providing substantial traffic exposure. The 1983 building combines office, warehouse, and residential elements within a single commercial property.
Key Highlights
- 10,097 SF multi‑tenant mixed‑use building
- Finished basement/warehouse space with first‑floor office area
- One residential apartment unit included
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
$139,339
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
8.57%
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%
$2,786,780
$2.8M
Cap Rate 7%
$1,990,557
$2.0M
Cap Rate 9%
$1,548,211
$1.5M
Market Conditions
NOI Build-Up for 10,097 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
$242.3K $24.00/SF
− Vacancy
−$19.4K −$1.92/SF
EGI
$222.9K $22.08/SF
− OpEx
−$83.6K −$8.28/SF
NOI
$139.3K $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%
$2,786,780
Cap Rate 7%
$1,990,557
Cap Rate 9%
$1,548,211
Alternative Uses
Best Use
Office B
$2.34M
$2.04M – $2.73M
NOI $163,571 @ 7.0% cap · market cap 10.07%
Second Best
Mixed Use
$1.99M
$1.74M – $2.32M
NOI $139,339 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$3.10M
$2.72M – $3.62M
NOI $217,247 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Explore this area
Business Placement
Demographics for 98467, WA
16,512
Population
6,718
Households
2.5
Avg Household Size
39
Median Age
42%
College-Educated
95%
High-School Grad
4.8 sq mi
ZIP Area
3,440
Density / Sq Mi
$90,586
Median Household Income
$48,802
Median Earnings
$1,566
Median Rent
$580,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner positioning at S Orchard St and 53rd St W delivers exposure to nearly 21,000 vehicles daily.
Where is this mixed-use property located?
The property is located at 5314-5316 S Orchard St Tacoma, WA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 10,097 SF multi‑tenant mixed‑use building; Finished basement/warehouse space with first‑floor office area; One residential apartment unit included
