Office
For Sale
Contact for pricing
909-911 Pacific Ave, Tacoma, WA 98402
Office-oriented commercial property with a substantial interior footprint.
Property Size13,850 SF
Price / SF$133.57
Days on Market1788
Property Features for 909-911 Pacific Ave
General Information
Standard status
Active
Size
13,850 SF
Property subtype
OFFICE
Listing Agency:
Kidder Mathews
(253) 722-1400
Listed By:
Drew Frame · License #130281
(253) 948-7032
Source:
Moodyscre
Added: Oct 12, 2021
Changed: Aug 29
Last Checked: Sep 1 at 8:22PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This office building contains 13,850 square feet of property area and is identified by the street address 909-911 Pacific Ave. The property is located in Tacoma, Washington, and is offered for sale. The record also identifies Tax ID #: 2009030020.
Key Highlights
- 13,850 square feet of office building area
- Located at 909‑911 Pacific Ave, Tacoma, WA 98402
- Tax ID #: 2009030020
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
$166,657
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
9.01%
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%
$3,333,140
$3.3M
Cap Rate 7%
$2,380,814
$2.4M
Cap Rate 9%
$1,851,744
$1.9M
Market Conditions
NOI Build-Up for 13,850 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
$249.3K $18.00/SF
− Vacancy
−$11.2K −$0.81/SF
EGI
$238.1K $17.19/SF
− OpEx
−$71.4K −$5.16/SF
NOI
$166.7K $12.03/SF
Area
Tacoma, WA
Vacancy
4.50%
Lease Rate
$18.00 /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%
$3,333,140
Cap Rate 7%
$2,380,814
Cap Rate 9%
$1,851,744
Alternative Uses
Best Use
Office B
$3.21M
$2.80M – $3.74M
NOI $224,370 @ 7.0% cap · market cap 12.13%
Second Best
Retail
$2.38M
$2.08M – $2.78M
NOI $166,657 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$4.26M
$3.72M – $4.97M
NOI $297,997 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,238
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
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 - Office-oriented commercial property with a substantial interior footprint.
Where is this office building located?
The property is located at 909-911 Pacific Ave Tacoma, WA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 13,850 square feet of office building area; Located at 909‑911 Pacific Ave, Tacoma, WA 98402; Tax ID #: 2009030020
