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    909 Pacific Ave Tacoma, WA 98402

    For Sale
    $2,250,000

    Prime Tacoma location, high occupancy, strong NOI.

    Property size:
    12,541 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional two-story, 12,541 square foot executive office building at 909 Pacific Avenue in Tacoma, WA, presents a compelling owner-user opportunity. Boasting a 100% occupancy rate and a strong pro-forma NOI of $155,552.35, this Class B property offers a 6.91% cap rate. Built in 1919 and renovated in 2009, the building sits on a 0.14-acre lot (APN 200903-0020) and is zoned DCC. The asking price is $2,250,000 ($179.41/sq ft). The property features one unit across two stories and benefits from long-term leases (through October 2024) with two first-floor tenants, allowing an owner-user to occupy approximately 6,000 square feet on the second floor. Its strategic location in downtown Tacoma, directly across from the Tacoma Link light rail, provides excellent access to amenities, I-5, and connecting highways. The surrounding area offers a diverse mix of retail and office tenants, fostering a strong business environment. This property is an ideal investment in a rapidly growing area with a deep labor and housing pool.

    Property Features for 909 Pacific Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    12,541 SF
    Class
    B
    Lot Size
    6,098 SF

    Building Details

    Year Built/Renovated
    1919/2009
    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • 6,000 SF second‑floor owner‑user space with income‑producing first‑floor tenants.
    • First‑floor tenants under long‑term leases expiring October 2024.
    • Prime Pacific Avenue location in Downtown Tacoma.
    • Excellent downtown location in a high‑growth area.
    • Strong demographics due to ample labor and housing.
    • Convenient access to amenities, housing, and highways.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Blitz & Co. Florist ... Florist Tax Debt Relief Tax Consultant

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4385877
    Latitude
    47.255009

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Tacoma location, high occupancy, strong NOI.
    Where is this office property / space located?
    The property is located at 909 Pacific Ave Tacoma, WA.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: 6,000 SF second-floor owner-user space with income-producing first-floor tenants.; First-floor tenants under long-term leases expiring October 2024.; Prime Pacific Avenue location in Downtown Tacoma.
    Request Owner's contact information
    909 Pacific Ave Tacoma, WA 98402
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    909 Pacific Ave Tacoma, WA 98402
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