Office Condo with
For Sale
Contact for pricing
705 S 9th St, Tacoma, WA 98405
Suite 102 features a reception area, multiple private offices, and a restroom with kitchenette in an elevator-served office building.
Property Size844 SF
Price / SF$296.21
Days on Market198
Property Features for 705 S 9th St
General Information
Standard status
Active
Size
844 SF
Property subtype
OFFICE
Amenities
elevator access
shared conference rooms
parking
Listing Agency:
Terry Wise & Associates
(253) 312-8360
Listed By:
Terry Wise
Source:
Moodyscre
Added: Jan 27
Changed: Jul 25
Last Checked: Aug 12 at 8:57AM
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.
Suite 102 is available as an office condo within the Atrium Building. The space includes a reception area, multiple private offices, plus a restroom and kitchenette. The building offers elevator access and access to six shared conference rooms.
The Atrium Building is located at 705 S 9th St in Tacoma, just steps from the courthouse, providing convenient access for daily business operations. Parking is available for occupants and visitors.
This is a turnkey office layout designed around a professional entry and private room configuration, supported by shared conference facilities in the building.
The Atrium Building is located at 705 S 9th St in Tacoma, just steps from the courthouse, providing convenient access for daily business operations. Parking is available for occupants and visitors.
This is a turnkey office layout designed around a professional entry and private room configuration, supported by shared conference facilities in the building.
Key Highlights
- Suite 102 at Atrium Building (705 S 9th St) offers a reception area, multiple private offices, plus a restroom and kitchenette.
- Elevator‑served office building with suite access.
- Building amenities include six shared conference rooms.
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
$13,673
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
5.47%
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%
$273,460
$273.5K
Cap Rate 7%
$195,329
$195.3K
Cap Rate 9%
$151,922
$151.9K
Market Conditions
NOI Build-Up for 844 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
$22.8K $27.00/SF
− Vacancy
−$4.6K −$5.40/SF
EGI
$18.2K $21.60/SF
− OpEx
−$4.6K −$5.40/SF
NOI
$13.7K $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%
$273,460
Cap Rate 7%
$195,329
Cap Rate 9%
$151,922
Alternative Uses
Best Use
Office B
$195.3K
$170.9K – $227.9K
NOI $13,673 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.4K
$227.0K – $302.7K
NOI $18,160 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,306
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
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 - Suite 102 features a reception area, multiple private offices, and a restroom with kitchenette in an elevator-served office building.
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: Suite 102 at Atrium Building (705 S 9th St) offers a reception area, multiple private offices, plus a restroom and kitchenette.; Elevator‑served office building with suite access.; Building amenities include six shared conference rooms.
