Listing Agency: Lee & Associates Commercial Real Estate Services Show Phone

Listed By: John Bauder, CCIM Show Phone

Source: Moodyscre

Added: Oct 5, 2023 Changed: Nov 5 Last Checked: Nov 4 at 1:00PM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This retail space is clean, clear, and ready for move-in. It features 22–24 foot clear-height ceilings and is fully sprinklered, supporting high-occupancy use.

Located at 936 Pacific Ave in Tacoma, it offers convenient access to I-705. The space sits near the 50 Yard line of Downtown Tacoma and is surrounded by businesses and parking. It is next to the Commerce Building and located in the North Parking Garage.

Key Highlights

• Retail space with 22–24 ft clear‑height ceilings
• Fully sprinklered for high occupancy
• Ready for immediate occupancy

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,824

Cap Rate

8.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,636,480 $1.6M

Cap Rate 7%

$1,168,914 $1.2M

Cap Rate 9%

$909,156 $909.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,800 SF

Gross rent

$122.4K $18.00/SF

− Vacancy

−$5.5K −$0.81/SF

EGI

$116.9K $17.19/SF

− OpEx

−$35.1K −$5.16/SF

NOI

$81.8K $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 Rate 5%

$1,636,480

Cap Rate 7%

$1,168,914

Cap Rate 9%

$909,156

Alternative Uses

Best Use

Retail

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,824 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,309 @ 7.0% cap · market cap 14.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Tanning Salon Restaurant Florist Clothing & Fashion Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,677

Businesses Nearby

38k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 78% Hotels & Casinos 16% Shops & Services 6%

McDonald's Dining

28,302 visits/mo 0.2 miles

Courtyard Tacoma Downtown Hotels & Casinos

6,246 visits/mo 0.5 miles

Domino's Pizza Dining

1,484 visits/mo 0.1 miles

Enterprise Rent-A-Car Shops & Services

1,235 visits/mo 0.1 miles

Umpqua Bank Shops & Services

1,137 visits/mo 0.4 miles

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

Average Price Trend$/SF for Retail space in Tacoma, WA

$232 Jul

$238 Aug

$243 Sep

$238 Oct

Properties on Market for Retail space in Tacoma

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space with 22–24 foot clear-height ceilings and full sprinkler coverage, ready for immediate occupancy.

Where is this retail space located?

The property is located at 936 Pacific Ave Tacoma, WA.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: Retail space with 22–24 ft clear‑height ceilings; Fully sprinklered for high occupancy; Ready for immediate occupancy