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    3102 6Th Ave Tacoma, WA 98406

    For Sale
    $1,445,000

    Prime 6th Ave location, strong NNN lease.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a thriving restaurant on Tacoma's bustling 6th Avenue, at 3102 6th Ave, in Pierce County, WA 98406. The property, encompassing a 6,000 square foot lot, features a single building with two units: a popular restaurant and an attached living space. The restaurant, El Balcon, benefits from a recently updated dining area and kitchen, creating a modern and inviting atmosphere for patrons. The attached living space provides additional rental income potential. Currently operating under a Net Lease (NNN) agreement with a single tenant, the lease has 4.5 years remaining, with a 4% year-over-year rent increase. The tenant is responsible for all utilities, minimizing landlord responsibilities. The tenant has also expressed interest in an early lease extension. The property boasts a 7.10% cap rate and is offered at an asking price of $1,445,000. Showings are by appointment only to allow for coordination with the tenant. A detailed financial breakdown is available upon request. This property offers a compelling blend of stability and growth potential, making it an attractive addition to any diversified real estate portfolio.

    Property Features for 3102 6Th Ave

    General Information

    Property type
    Restaurants

    Building Details

    Buildings
    1
    Units
    2

    HighLights

    • Showings by appointment only, tenant coordination required.
    • 4.5 years remaining on lease, with 4% annual rent increases.
    • Tenant responsible for all utilities.
    • Tenant open to extending lease early.
    • Financial details available upon request.
    • Triple Net (NNN) lease; minimal landlord responsibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Balcon Express Salvadoran Restaurant FLO Charging Station Electric Vehicle Charging Station

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -122.47646
    Latitude
    47.2551556

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    FAQs

    What type of property is this?
    Restaurant - Prime 6th Ave location, strong NNN lease.
    Where is this restaurant located?
    The property is located at 3102 6Th Ave Tacoma, WA.
    What is the asking price?
    The asking price for this property is $1,445,000.
    What are key features of this property?
    This property features: Showings by appointment only, tenant coordination required.; 4.5 years remaining on lease, with 4% annual rent increases.; Tenant responsible for all utilities.
    Request Owner's contact information
    3102 6Th Ave Tacoma, WA 98406
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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
    3102 6Th Ave Tacoma, WA 98406
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