2505 80th St Tacoma, WA 98409-8400
Property profile & analytics
2505 80th St Tacoma, WA 98409-8400
- Medical Office Space
- 27,199 SF
- 1.57 lot acres
Property ID
US90-0508037
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Summit Veterinary Referral Center / Veterinary Clinic
- Blink Charging Station / Electric Vehicle Charging Station
Property Details for 2505 80th St
- Year built
- 1999
- Construction
- WOOD FRAME
- Lot size
- 1.57 lot acres
- Property size
- 27,199 SF
- Zone code
- PDB
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 320304102
- APU
- 320304102
Description
This exceptional investment opportunity presents a 27,199 square foot Class A medical office building in Tacoma, WA. The property, built in 1999 and situated on a 1.57-acre lot, is fully occupied under a 10-year triple-net (NNN) lease with NVA Summit Veterinary Referral Center, a subsidiary of National Veterinary Associates Inc., the largest private owner of freestanding veterinary hospitals in the United States. The lease includes annual rent bumps of 3.5%, providing a hedge against inflation and minimizing landlord responsibilities. The tenant boasts a strong corporate guarantee and has invested significantly in the state-of-the-art medical buildout. The property features 71 parking spaces and benefits from a prime location near I-5, ensuring excellent accessibility. With a current NOI of $979,644, a 6.76% cap rate, and a pro-forma cap rate of 7.74%, this offering presents a compelling investment opportunity in a high-growth market. The property is zoned M1 and includes a single, two-story building. The asking price is $14,500,000, translating to a price per square foot of $533.11. This mission-critical facility provides specialized veterinary services, catering to a large regional client base. The long-term lease, strong tenant, and favorable market conditions make this a highly attractive investment.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,480,000
- 6.5%
- $5,980,000
- 7%
- $5,555,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $3,161,000
Market price range: $1.00M - $4.60M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $6,655,000 Current use
- COMMERCIAL (GENERAL)
- $7,260,000 Change: +9% Conversion: Easy
- WAREHOUSE, STORAGE
- $7,160,000 Change: +8% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $6,945,000 Change: +4% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $6,010,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.471
- Latitude
- 47.1851
- CBSA code
- 42660
- CBSA name
- SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$73,965
$862,000
$5,796,300
$6,658,300
-
$862,000
$5,796,300
$6,658,300
