Move-in Ready Office
For Sale
Contact for pricing
705 S 9th St, Tacoma, WA 98405
Well-maintained office suite with five private offices near downtown.
Property Size1,160 SF
Lot Size0.03 Acres
Price / SF$215.52
Days on Market247
Property Features for 705 S 9th St
General Information
Standard status
Active
Size
1,160 SF
Lot size
0.03 Acres
Property subtype
OFFICE
Properties For Sale
at 705 S 9th St
Office Space for Lease or Sale in Downtown Tacoma
AVAILABLE, Now
Floor
1
Size
844 SF
Type
OFFICE
Lease Type
PLUS_UTILITIES_AND_JANITORIAL
Explore the Atrium Building at 705 S 9th St, Suite 102—an excellent chance to own a modern office condo in a clean, professional setting. Designed for both style and practicality, the building offers flexible layouts and updated features that create a welcoming workspace. Its location just steps from the courthouse provides exceptional convenience. Suite 102 includes a reception area, multiple private offices, plus a restroom and kitchenette. Building amenities include elevator access, six shared conference rooms, and plenty of parking. The Atrium Building delivers comfort, convenience, and a vibrant urban feel. Don't miss out on this amazing opportunity to own a piece of downtown Tacoma! Seller Financing available!
Contact us
Listing Agency:
Terry Wise & Associates
(253) 655-7385
Listed By:
Terry Wise
(253) 312-8360
Source:
Moodyscre
Added: Jan 27
Changed: Aug 17
Last Checked: Aug 7 at 6:09AM
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 Terry Wise & Associates
Investment Insights
Based on property information with market context.
This 1,160 square foot office suite, located close to downtown, features five private offices. The property was originally built in 1954 and renovated in 2000. An open-air atrium provides a bright, central communal space. The office is in well-maintained, move-in ready condition and offers convenient parking options for staff and visitors.
Key Highlights
- Move‑in ready condition.
- Five private offices provide ample workspace.
- Conveniently close to downtown.
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
$18,792
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
7.52%
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%
$375,840
$375.8K
Cap Rate 7%
$268,457
$268.5K
Cap Rate 9%
$208,800
$208.8K
Market Conditions
NOI Build-Up for 1,160 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
$31.3K $27.00/SF
− Vacancy
−$6.3K −$5.40/SF
EGI
$25.1K $21.60/SF
− OpEx
−$6.3K −$5.40/SF
NOI
$18.8K $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 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%
$375,840
Cap Rate 7%
$268,457
Cap Rate 9%
$208,800
Alternative Uses
Best Use
Office B
$268.5K
$234.9K – $313.2K
NOI $18,792 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 9.98%
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
6,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 98405, WA
24,617
Population
11,645
Households
2.1
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
6,004
Density / Sq Mi
$80,024
Median Household Income
$51,028
Median Earnings
$1,480
Median Rent
$443,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office suite with five private offices near downtown.
Where is this office units located?
The property is located at 705 S 9th St Tacoma, WA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Move‑in ready condition.; Five private offices provide ample workspace.; Conveniently close to downtown.
