809 38Th St Tacoma, WA 98418

Property Details for 809 38Th St

Year built

1916

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.30 lot acres

Property size

9,460 SF

Zone code

NCX

Property type

Retail space

APN

8935015110

APU

8935015110

Description

This exceptional commercial property, located at 809 S 38th Street in Tacoma, Washington, presents a rare investment or owner-user opportunity. Priced at $1,269,000, this property boasts a projected capitalization rate of 7.45%. Situated on a 0.3-acre lot in Tacoma's revitalized Lincoln District, the Horsfall mixed-use building offers significant potential. The building comprises thirteen units in total: three ground-floor retail spaces and an attached warehouse, complemented by six studio apartments and three separate dwelling units (SEDUs) on the second floor. The current configuration offers a strong proforma income stream, with potential for increased revenue through lease-up of vacant spaces and/or renovation to alter the unit mix or floor plans. The property includes designated parking located behind the building, providing convenient access for tenants and customers. Its prime location offers easy access to key amenities, including the Tacoma Mall and T-Mobile facilities. The multi-use zoning allows for redevelopment possibilities, further enhancing its investment appeal. Given the surrounding revitalization efforts and numerous new development projects in the Lincoln District, this property presents a compelling opportunity for long-term growth and return. The property is being sold "As Is".

Location Insight

City

Tacoma

County

Pierce

State

Washington

Longitude

-122.444

Latitude

47.2233

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments