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Property profile & analytics
FOR LEASE
Warehouses

2128 Pacific Ave Tacoma, WA 98402

18,000 SF 0.14 ac lot Built 1919
Entity Owned 11-yr Hold ~ Est. High Equity
Property ID
US90-1222410
No photos on file
For Lease
$36,000 SF/Yr 36,000 SF available
2128 Pacific Ave, Tacoma, WA 98402
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Property summary
AI-generated overview

This exceptional industrial property, located at 2128-2134 Pacific Avenue in Tacoma, Washington, offers 36,000 square feet of warehouse and distribution space across two connected, three-story buildings. The property is currently vacant and available for immediate occupancy. Each floor provides flexible floor plates ranging from 6,000 to 12,000 square feet, boasting impressive ceiling heights of 12 to 17 feet. Convenient access is provided via a mix of grade-level and dock-high loading doors on the first and second floors. The property is zoned WR HIST (Warehouse/Residential & Historical), reflecting its prime location in downtown Tacoma. Its strategic position offers significant advantages, situated adjacent to the University of Washington Tacoma campus and the vibrant Brewery Blocks district. Furthermore, the property benefits from easy access to major freeways and a wealth of nearby amenities, making it an ideal location for a variety of industrial businesses. The total building size is 36,000 square feet, situated in Pierce County, WA, zip code 98402. This single-tenant property presents a unique opportunity for a business seeking a substantial and well-located industrial space in a thriving urban environment.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1919
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 18,000 SF
Lot 0.14 ac (6,000 SF)
Zoning code WR
APN 2021040050
UPID US90-1222410
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.69M
Owner & transaction history
Morton LLC · 11 yrs held
Morton LLC
since 2014
6 recorded transactions
2025
Price N/A
2021
Price N/A
2014
$775,000
2004
Price N/A
1994
$77,000
1990
$40,000
Zoning & alternative use
WR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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