Commercial Real Estate Market in Tacoma, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
533 active listings and 9,189 off-market properties in Tacoma, WA. Commercial property asks $177/SF to buy and $21.42/SF/Yr to lease.
Market Trends
Tacoma, WA spans 160.5 square miles in Pierce County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Tacoma, WA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Tacoma, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Tacoma, WA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Tacoma, WA runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 53.1%
- Open space 21.4%
- Industrial 13.9%
- Mixed use 7.3%
- Commercial 3.7%
- Civic 0.6%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Marine Waters Of The State Shoreline District
Urban Residential 1
Urban Residential 2
Urban Residential South Tacoma Groundwater Protection District
Seaport Core Primary
Tacoma, WA zones 40,257 acres across 132 districts. Commercial zoning covers 3.7% of zoned land, residential 53.1%, open space 21.4% and industrial 13.9%. The largest single district is Marine Waters Of The State Shoreline District at 21.3%. For commercial buyers the practical constraint is that only 17.6% of land carries a commercial or industrial designation.
Marine Waters Of The State Shoreline District (S13-MWS-SH)
The intent of the District is to maintain these water bodies for the use by the public for navigation, commerce and recreation purposes and to manage in-water structures in a consistent manner throughout the City shorelines
Market overview
Demographics & Economy
Tacoma, WA has 450,663 residents in 185,871 households. Density runs 2,807 people per square mile. Median household income here is $83,648 and median gross rent $1,662 a month.
450,663
Population
185,871
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
160.5 sq mi
ZIP Area
2,807
Density / Sq Mi
$83,648
Median Household Income
$48,892
Median Earnings
$1,662
Median Rent
$467,216
Median Home Value
Tools
Lease vs Buy Breakeven
At $21.42/SF/Yr lease vs $177/SF buy → buying wins if held > 1 years.
At a 12.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the average price per square foot for commercial property in Tacoma?
Commercial property in Tacoma, WA asks an average of $177 per square foot. The 6 most recent recorded sales traded at a median of $391/SF.
How much does it cost to lease commercial space in Tacoma?
Asking lease rates in Tacoma, WA average $21.42 per square foot per year.
Is it cheaper to lease or buy commercial space in Tacoma?
Buying beats leasing in Tacoma, WA if the property is held longer than 1.0 years, comparing $21.42/SF/Yr asking rent with $177/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Tacoma?
Tacoma, WA zones 40,257 acres across 132 districts, of which 3.7% is commercial and 13.9% industrial. The largest single district is Marine Waters Of The State Shoreline District at 21.3% of zoned land. The intent of the District is to maintain these water bodies for the use by the public for navigation, commerce and recreation purposes and to manage in-water structures in a consistent manner throughout the City shorelines Residential zoning covers 53.1% and open space 21.4%.
Where does Realmo's Tacoma market data come from?
Realmo compiles Tacoma, WA figures from 6 recent recorded sales, 302 active sale listings, 231 active lease listings, 9,189 tracked off-market properties, the current Tacoma zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 302 active for-sale and 231 active for-lease listings in Tacoma, WA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 40,257 zoned acres across 132 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
