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3315 23rd St Tacoma, WA 98405-1605

OFF-MARKET Office Spaces Google Maps
54,242 SF 2.34 ac lot Built 1988
Entity Owned 1-yr Hold ~ Est. High Equity
Estimated value (blended)
$12.32M
Range $11.09M – $13.55M (±10%)
Property ID US90-1084781

Property summary

AI-generated overview

Allenmore Terrace, located at 3315 S 23rd Street in Tacoma, WA 98405, presents a unique opportunity to acquire a premier Class A medical office building. This 64,516 square foot multi-tenant property boasts a remarkably low vacancy rate of only 569 square feet. Situated in Pierce County, the building benefits from an unbeatable location adjacent to the Allenmore Hospital Campus, providing convenient access to a vast network of healthcare providers, advanced medical technologies, and a 24-hour emergency department. The property's strategic position also ensures easy access to major transportation arteries, including I-5 and Highway 16, enhancing its appeal to both patients and staff. Recent renovations have modernized the interior, including the common areas and lobby, creating a welcoming and professional atmosphere. Ample surface parking is available on-site, providing a generous 4.6 stalls per 1,000 square feet. The building also offers the opportunity for prominent exterior building signage, enhancing visibility and brand recognition. This exceptional property is ideal for investors seeking a stable, high-demand medical office asset in a thriving healthcare hub.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1988
Construction CONCRETE
Total area 54,242 SF
Lot 2.34 ac (101,974 SF)
Zoning code CCX
APN 320076025
UPID US90-1084781

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
  • Medical Clinic
  • Medical Clinic
  • Medical Clinic
  • Medical Clinic
  • Physician Medical Clinic

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$11.52M
Comparable Approach Comparable
$14.98M
Blend (final) Blend
$12.32M

Owner & transaction history

since 2025
6 recorded transactions
2025
Price N/A
2021
Price N/A
2011
Price N/A
2001
$7.3M
1991
$30,000
1969
Price N/A

Zoning & alternative use

CCX · Tacoma, WA
Zoning description

CCX: Community Commercial Mixed-Use District The CCX D istrict provides commercial and retail businesses which are intended to serve many nearby areas and attract people from throughout the City. This district is envisio…

General category MIXED_USE
Top alternative use upside
Auto repair, garage $20.0M +66.6%
Retail stores $16.4M +36.2%
Warehouse, storage $16.3M +35.1%

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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