High-Visibility Small-Suite Office
For Sale
Contact for pricing
7817 Pacific Ave, Tacoma, WA 98408
Prime location office building with move-in ready suites.
Property Size3,152 SF
Price / SF$348.98
Days on Market148
Property Features for 7817 Pacific Ave
General Information
Standard status
Active
Size
3,152 SF
Class
B
Property subtype
Office, Retail
Zoning
City of Tacoma commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$60,000
Building Details
Year Built
1978
Year Renovated
2006
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
C & J Realty LLC
(253) 307-4677
Listed By:
Cassandra Day · License #25006802
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 11 at 2:34PM
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 C & J Realty LLC
Investment Insights
Based on property information with market context.
This small-suite office building is located on Pacific Ave, a location with strong daily traffic counts. The property features efficient layouts with multiple private offices, reception/waiting areas, and open workspace options. Suites are move-in ready, requiring minimal tenant improvements. The property is suitable for professional services, medical/wellness practices, and small business operators. High visibility signage opportunities are available. Ample on-site parking is provided for tenants and clients. The property offers easy access to Hwy 512 and the I-5 corridor. It is located in a high-demand leasing pocket with consistent activity and is a well-maintained asset with strong curb appeal. The property size is 3152 square feet.
Key Highlights
- Prime Pacific Ave frontage with high visibility and strong daily traffic counts.
- Move‑in ready/turn‑key suites requiring minimal tenant improvements.
- Ample on‑site parking for tenants and clients.
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
$51,062
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
4.64%
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%
$1,021,240
$1.0M
Cap Rate 7%
$729,457
$729.5K
Cap Rate 9%
$567,356
$567.4K
Market Conditions
NOI Build-Up for 3,152 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
$85.1K $27.00/SF
− Vacancy
−$17.0K −$5.40/SF
EGI
$68.1K $21.60/SF
− OpEx
−$17.0K −$5.40/SF
NOI
$51.1K $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%
$1,021,240
Cap Rate 7%
$729,457
Cap Rate 9%
$567,356
Alternative Uses
Best Use
Office B
$729.5K
$638.3K – $851.0K
NOI $51,062 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$968.8K
$847.7K – $1.13M
NOI $67,818 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
408
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
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Prime location office building with move-in ready suites.
Where is this office building located?
The property is located at 7817 Pacific Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime Pacific Ave frontage with high visibility and strong daily traffic counts.; Move‑in ready/turn‑key suites requiring minimal tenant improvements.; Ample on‑site parking for tenants and clients.
