Technical
Financial
Distress signals
Property profile

2111 Pacific Ave Tacoma, WA 98402

OFF-MARKET
Other office properties
Property ID
US90-3119030
12,000 SF 0.32 ac lot Built 1917
Entity Owned 26-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Built in 1917 and completely renovated in 2000, this historic commercial building is located in downtown Tacoma with convenient freeway access, and is listed on the Tacoma Register of Historic Places (the Bone Dry Shoe Building). The building is configured to be easily divided, with retail or office space available at approximately 3,000 square feet fronting Pacific Avenue. Exposed structural and exterior elements include board-form concrete exterior walls along with old-growth heavy-timber beams and columns. The 2000 renovations included adding an accessible elevator and completing a seismic retrofit, along with updates to HVAC, electrical, security, and plumbing systems. New building envelope improvements include an insulated single-ply roof membrane assembly and new energy-efficient wood/aluminum windows. The property has parking and totals approximately 12,005 square feet, and is suitable for commercial uses such as retail and office.

Property profile

Verified
Property type Other office properties
Use group OFFICE (GENERAL)
Year built 1917
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 12,000 SF
Lot 0.32 ac (13,930 SF)
Zoning code WR
APN 2021030020
UPID US90-3119030

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Architect

Location

2111 Pacific Ave Tacoma, WA 98402-3006
Tacoma metro Census 61602 SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.55M
Comparable Approach Comparable
$1.23M
Blend (final) Blend
$2.05M

Owner & transaction history

since 2000
2 recorded transactions
2000
$432,680
1996
$405,000

Zoning & alternative use

WR · Tacoma, WA
Zoning description

WR: Warehouse Residential District The WR D istrict is intended to consist principally of a mixture of industrial activities and residential buildings in which occupants maintain a business involving industrial activitie…

General category INDUSTRIAL

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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