Mixed-Use Building with Income
5435 M St Tacoma, WA 98408
5435 M St, Tacoma, WA, 98408
$979,950
Pending
For Sale
$979,950
Pending
Two-story mixed-use building with apartments, office space, and cell tower.
Property Size7,875 SF
Days on Market501
Property Features for 5435 M St
General Information
- Standard status
- Pending
- Size
- 7,875 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1946
Listing agency
KELLER WILLIAMS REALTY TACOMA
(253) 460-8640
Listed by
JEFF JENSEN
Source
Corcoran
Added: Mar 7, 2025 Updated: Jul 6 at 7:43AM Checked: Jul 21 at 4:52AM
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 KELLER WILLIAMS REALTY TACOMA
Investment Insights
Based on property information with market context.
This two-story mixed-use building offers approximately 7,875 square feet of space. The building features five apartment units on the upper level. The main floor is primarily office space with one additional apartment suitable for ADA or special needs. Included in the sale are two one-car garage spaces located off the alleyway. A lease agreement with T-Mobile for a cell tower provides an additional income stream. The property has been partially upgraded in the office area, and the apartments have been updated over the years. This building is suitable for owner-occupants, investors, or non-profit organizations.
Key Highlights
- Mixed‑use building with multiple income streams (apartments, office, cell tower lease).
- Turn‑key condition with partially upgraded office space and updated apartments.
- Approximately 8,000 sq ft of space across two levels.
Local Financial Insights For Apartment 5plus
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 | $172.9k | $21.96 |
| − Vacancy | −$9.0k | −$1.14 |
| EGI | $163.9k | $20.82 |
| − OpEx | −$73.8k | −$9.37 |
| NOI | $90.2k | $11.45 |
7,875 SF · lease $21.96/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.13M
NOI $127,575 @ 7.0% cap · market cap 13.02%
Second Best
Mixed Use
$1.55M
$1.36M – $1.81M
NOI $108,675 @ 7.0% cap · market cap 11.09%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,439 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Network Tacoma
Charitable Organization
Jeremy Wekell
Counselor
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building with apartments, office space, and cell tower.
Where is this mixed-use property located?
The property is located at 5435 M St Tacoma, WA.
What is the asking price?
The asking price for this property is $979,950.
What are key features of this property?
This property features: Mixed‑use building with multiple income streams (apartments, office, cell tower lease).; Turn‑key condition with partially upgraded office space and updated apartments.; Approximately 8,000 sq ft of space across two levels.
