7811 Pacific Ave, Tacoma, WA 98408

Building Details

Year Renovated 2023 More

Buildings 1 More

Listing Agency: Better Properties Real Estate Show Phone

Listed By: Mark Hulen · License #50093 Show Phone

Source: Moodyscre

Added: Oct 22 Changed: Nov 7 Last Checked: Nov 8 at 5:01AM

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Investment Insights

Based on property information with market context.

This office property contains 2,186 square feet arranged in several separate rooms. It has three bathrooms, including two ADA bathrooms, washer and dryer hookups, and a newer heat pump. Renovation work was completed in 2023, and the roof has received recent maintenance.

The property is part of a Pacific Professional Center complex of eight commercial buildings, each on its own parcel. Shared parking and common amenities serve the complex. The address is on Pacific Ave near the intersection of 72nd and Pacific Ave.

Key Highlights

• 2,186 square feet with several separate rooms
• Three bathrooms, two of them ADA
• Renovated in 2023; recent roof maintenance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,413

Cap Rate

7.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$708,260 $708.3K

Cap Rate 7%

$505,900 $505.9K

Cap Rate 9%

$393,478 $393.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,186 SF

Gross rent

$59.0K $27.00/SF

− Vacancy

−$11.8K −$5.40/SF

EGI

$47.2K $21.60/SF

− OpEx

−$11.8K −$5.40/SF

NOI

$35.4K $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%

$708,260

Cap Rate 7%

$505,900

Cap Rate 9%

$393,478

Alternative Uses

Best Use

Office B

$505.9K

$442.7K – $590.2K (±1% cap)

NOI $35,413 @ 7.0% cap · market cap 7.15%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$671.9K

$587.9K – $783.9K (±1% cap)

NOI $47,034 @ 7.0% cap · market cap 9.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Electrical Service Accounting Firm Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

553

Businesses Nearby

Explore this area Business Placement

Demographics for 98408, WA

20,566

Population

8,418

Households

2.4

Avg Household Size

38

Median Age

25%

College-Educated

90%

High-School Grad

3.4 sq mi

ZIP Area

6,049

Density / Sq Mi

$78,855

Median Household Income

$45,786

Median Earnings

$1,610

Median Rent

$379,400

Median Home Value

Market

Average Price Trend$/SF for Office buildings in Tacoma, WA

$201 Jul

$203 Aug

$227 Sep

$227 Oct

Properties on Market for Office buildings in Tacoma

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - A renovated interior with several separate rooms supports a range of office configurations.

Where is this office building located?

The property is located at 7811 Pacific Ave Tacoma, WA.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 2,186 square feet with several separate rooms; Three bathrooms, two of them ADA; Renovated in 2023; recent roof maintenance