Downtown Tacoma Office/Retail
For Sale
$675,000
732 Broadway Ste 102, Tacoma, WA 98402
2,630 SF office/retail space in Tacoma's vibrant downtown.
Property Size2,630 SF
Price / SF$256.65
Days on Market253
Property Features for 732 Broadway Ste 102
General Information
Standard status
Active
Size
2,630 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,630 SF
Year Built
1919
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
John Bauder, CCIM
(253) 238-0043
Source:
Lee-associates
Added: Jan 26
Changed: Oct 3
Last Checked: Oct 5 at 4:25PM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This property features a 2,630 square foot first-floor suite, fully built out for office or retail use. The space includes a kitchen, two bathrooms (one with a shower), and an area suitable for cubicles or open office configurations. It is accessible from Broadway and features high ceilings with brick and beam construction. Situated between Opera Alley's shops and eateries and the Theater District's historic theaters, the property is located in downtown Tacoma, near arts and culture venues. The location is within walking distance of Wooden City, McMenamin’s, and Dorky’s Arcade. The new light rail station at Old City Hall is one block away, providing access to downtown and the regional transit system.
Key Highlights
- Prime location in downtown Tacoma's vibrant arts and culture district, near Opera Alley and the Theater District.
- ±2,630 SF fully built out first‑floor office/retail space with Broadway access.
- Convenient access to public transportation with the new light rail station only one block away.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,606
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,120
$852.1K
Cap Rate 7%
$608,657
$608.7K
Cap Rate 9%
$473,400
$473.4K
Market Conditions
NOI Build-Up for 2,630 SF
Gross rent
$71.0K $27.00/SF
− Vacancy
−$14.2K −$5.40/SF
EGI
$56.8K $21.60/SF
− OpEx
−$14.2K −$5.40/SF
NOI
$42.6K $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 Rate 5%
$852,120
Cap Rate 7%
$608,657
Cap Rate 9%
$473,400
Alternative Uses
Best Use
Office B
$608.7K
$532.6K – $710.1K
NOI $42,606 @ 7.0% cap · market cap 6.31%
Second Best
Retail
$452.1K
$395.6K – $527.5K
NOI $31,647 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$808.4K
$707.3K – $943.1K
NOI $56,587 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,596
Businesses Nearby
Explore this area
Business Placement
Demographics for 98402, WA
8,053
Population
4,788
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
6,711
Density / Sq Mi
$54,712
Median Household Income
$43,145
Median Earnings
$1,478
Median Rent
$558,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - 2,630 SF office/retail space in Tacoma's vibrant downtown.
Where is this office units located?
The property is located at 732 Broadway Ste 102 Tacoma, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Prime location in downtown Tacoma's vibrant arts and culture district, near Opera Alley and the Theater District.; ±2,630 SF fully built out first‑floor office/retail space with Broadway access.; Convenient access to public transportation with the new light rail station only one block away.
