Move-In Ready Office
For Sale
Contact for pricing
705 S 9th St, Tacoma, WA 98405
Office suite featuring five private offices and an open-air atrium in a renovated 1954 building.
Property Size1,160 SF
Price / SF$185.34
Days on Market729
Property Features for 705 S 9th St
General Information
Standard status
Active
Size
1,160 SF
Property subtype
OFFICE
Additional Details
Asking Price
$215,000
Amenities
open-air atrium
Building Details
Year Built
1954
Year Renovated
2000
Listing Agency:
NWC - KV LLC
(253) 779-8400
Listed By:
Samuel Highsmith
(253) 576-1765
Source:
Moodyscre
Added: Sep 16, 2024
Changed: Sep 12
Last Checked: Sep 14 at 12:19PM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
Suite 201 is an office suite in a well-maintained, move-in ready building originally built in 1954 and renovated in 2000. The suite provides five private offices designed for focused work, along with an open-air atrium that creates a bright, central communal space.
The property is conveniently close to downtown for city access. Parking options are described as convenient for both staff and visitors.
This configuration offers a practical mix of private office space and a shared atrium area within the suite for day-to-day workflow.
The property is conveniently close to downtown for city access. Parking options are described as convenient for both staff and visitors.
This configuration offers a practical mix of private office space and a shared atrium area within the suite for day-to-day workflow.
Key Highlights
- Office suite 201 with 1,160 SF available
- Renovated 1954 building; year built 1954 with renovations completed in 2000
- Suite includes five private offices for workspace and privacy
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
8.74%
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 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 11.61%
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Office suite featuring five private offices and an open-air atrium in a renovated 1954 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 $215,000.
What are key features of this property?
This property features: Office suite 201 with 1,160 SF available; Renovated 1954 building; year built 1954 with renovations completed in 2000; Suite includes five private offices for workspace and privacy
