Mixed-Use Building in Tacoma,
For Sale
$1,650,000
Pending
902 10th Street, Tacoma, WA 98405
7,552 SF mixed-use building on 0.22 AC for sale.
Property Size7,552 SF
Lot Size0.22 Acres
Days on Market220
Property Features for 902 10th Street
General Information
Standard status
Pending
Size
7,552 SF
Lot size
0.22 Acres
Property subtype
Commercial
Building Details
Year Built
1972
Listing Agency:
NWC - KV LLC
(253) 779-8400
Listed By:
BRIANA HICKEY
Source:
Corcoran
Added: Jan 14
Changed: Jul 6
Last Checked: Jul 23 at 6:40AM
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.
The property is a 7,552 square foot mixed-use building situated on a 0.22-acre (9,750 SF) lot. Constructed in 1972 with additions in 1995, the property is zoned NCX - Neighborhood Commercial Mixed Use. It features abundant parking. Additional parking and parcels may be available; details can be obtained from the broker.
Key Highlights
- Abundant parking
- NCX - neighborhood commercial mixed use zoning
- Building size: 7,552 square feet
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
$122,342
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
7.41%
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%
$2,446,840
$2.4M
Cap Rate 7%
$1,747,743
$1.7M
Cap Rate 9%
$1,359,356
$1.4M
Market Conditions
NOI Build-Up for 7,552 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
$203.9K $27.00/SF
− Vacancy
−$40.8K −$5.40/SF
EGI
$163.1K $21.60/SF
− OpEx
−$40.8K −$5.40/SF
NOI
$122.3K $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%
$2,446,840
Cap Rate 7%
$1,747,743
Cap Rate 9%
$1,359,356
Alternative Uses
Best Use
Office B
$1.75M
$1.53M – $2.04M
NOI $122,342 @ 7.0% cap · market cap 7.41%
Second Best
Mixed Use
$1.49M
$1.30M – $1.74M
NOI $104,218 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,489 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,107
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 7,552 SF mixed-use building on 0.22 AC for sale.
Where is this mixed-use property located?
The property is located at 902 10th Street Tacoma, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Abundant parking; NCX - neighborhood commercial mixed use zoning; Building size: **7,552 square feet**
