Tacoma Industrial/Manufacturing Warehouse
For Sale
Contact for pricing
1815 E D St, Tacoma, WA 98421
Stand-alone industrial building with access to Port of Tacoma.
Property Size98,300 SF
Price / SF$134.28
Days on Market702
Property Features for 1815 E D St
General Information
Standard status
Active
Size
98,300 SF
Class
B
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Units
1
Listing Agency:
NAI Puget Sound Properties Tacoma
(425) 586-5600
Listed By:
Dave Douglas, SIOR, CCIM · License #WA 4041
Source:
Crexi
Added: Sep 19, 2024
Changed: Aug 8
Last Checked: Aug 21 at 9:43AM
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 NAI Puget Sound Properties Tacoma
Investment Insights
Based on property information with market context.
The Tacoma Fixture Building is a stand-alone industrial/manufacturing warehouse building. It offers access to the Port of Tacoma, I-5, and SR 167. The property is 98300 square feet. The market dynamics include diminished land supply and tightening vacancy rates.
Key Highlights
- Stand‑alone industrial/manufacturing warehouse building.
- Excellent access to the Port of Tacoma, I‑5, and SR 167.
- Strong market dynamics of diminished land supply.
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
$1,052,487
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
7.97%
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%
$21,049,740
$21.0M
Cap Rate 7%
$15,035,529
$15.0M
Cap Rate 9%
$11,694,300
$11.7M
Market Conditions
NOI Build-Up for 98,300 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
$1.64M $16.68/SF
− Vacancy
−$136.1K −$1.38/SF
EGI
$1.50M $15.30/SF
− OpEx
−$451.1K −$4.59/SF
NOI
$1.05M $10.71/SF
Area
Tacoma, WA
Vacancy
8.30%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
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%
$21,049,740
Cap Rate 7%
$15,035,529
Cap Rate 9%
$11,694,300
Alternative Uses
Best Use
Warehouse
$18.26M
$15.98M – $21.30M
NOI $1,278,021 @ 7.0% cap · market cap 9.68%
Second Best
Industrial
$15.04M
$13.16M – $17.54M
NOI $1,052,487 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$30.21M
$26.44M – $35.25M
NOI $2,115,023 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 98421, WA
1,239
Population
78
Households
15.9
Avg Household Size
34
Median Age
25%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
191
Density / Sq Mi
$1,273
Median Rent
Market
Vacancy Rate% for Industrial 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?
Manufacturing property - Stand-alone industrial building with access to Port of Tacoma.
Where is this manufacturing property located?
The property is located at 1815 E D St Tacoma, WA.
What is the asking price?
The asking price for this property is $13,200,000.
What are key features of this property?
This property features: Stand‑alone industrial/manufacturing warehouse building.; Excellent access to the Port of Tacoma, I‑5, and SR 167.; Strong market dynamics of diminished land supply.
