Property profile

1114 Pacific Ave Tacoma, WA 98402

OFF-MARKET
Parking lots & garages
Property ID
US90-1577089
72,210 SF 0.23 ac lot Built 1931
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 12,300 square foot executive office space, situated at 1114 Pacific Avenue in the heart of downtown Tacoma, Washington, presents a unique opportunity. Located on the ground floor, this Class B building boasts 50 feet of prime Pacific Avenue frontage between 11th and 12th Streets, ensuring high visibility and accessibility. Built in 1960, the 87,936 square foot building offers a multiple tenancy structure. Currently, 12,300 square feet are available for lease, ideal for a business seeking a prominent location with significant street presence. The property's location in Pierce County, with a 98402 zip code, provides easy access to major transportation routes and amenities. This space is perfect for a retail showroom, office, or shop, offering a blend of high visibility and functional space. The property's size and location make it an attractive option for businesses seeking a substantial footprint in a thriving downtown area. Don't miss this chance to secure a prime location in Tacoma's vibrant business district.

Property profile

Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Year built 1931
Construction CONCRETE
Total area 72,210 SF
Lot 0.23 ac (10,000 SF)
Zoning code DCC
APN 2011040020
UPID US90-1577089

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1114 Pacific Ave Tacoma, WA 98402-4304
Tacoma metro Census 61601 SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$9.70M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$9.77M

Owner & transaction history

since 2021
Last sale
$8.8M
6 recorded transactions
2021
$8.8M
2018
Price N/A
2007
$1.5M
2007
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

DCC · Tacoma, WA
Zoning description

same uses prohibited in the DCC D istrict are also prohibited in the DMU District. The maximum building height in this district is 100 feet. DR: Downtown Residential The DR D istrict contains a predominance of mid -rise,…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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