Current Use by Public Records
- Precision Auto Body / Auto Repair Shop
Property Details for 5033 Tacoma Way
- Year built
- 1994
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional Tacoma, WA industrial property presents a compelling investment opportunity. The 42,060 square foot site, encompassing two single-story buildings totaling 6,837 net rentable square feet, is currently 100% occupied by a thriving auto body shop under a net lease agreement. The lease, commencing January 1, 2021, and expiring January 1, 2026, has a remaining term of approximately 1.1 years. The property boasts a 2.84% cap rate and a strong net operating income (NOI) of $78,000. Built in 1994 and renovated in 2002, the property features a 20-foot ceiling height, 30 parking spaces, and a fenced yard. The buildings include a spacious workshop, a modern office area with a shower, and a dedicated paint shop with two paint booths. All shop equipment is included in the sale price of $2,750,000 ($65.38/sq ft), representing a price per unit of $1,375,000. The land, encompassing 41,069 square feet, is valued at $66.98 per square foot. The property is zoned NXC and situated at 5033 S Tacoma Way, Tacoma, WA 98409, within an Opportunity Zone. The lease includes one option for renewal, extending the lease for an additional five years. This turnkey operation offers significant potential for long-term income and appreciation.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.484
- Latitude
- 47.2105
