955 Tacoma Ave S Tacoma, WA 98402

Sold

SOLD 12/21/2019

$5,550,000

Market Estimate

0.32 Acres
Commercial/Industrial
Listing# 1347706

Listing provided courtesy of:

Keller Williams Downtown Sea

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Property Details

Description

This Cared for Brick 31,447 sq ft, Class A Office Building with 62 Stall Parking Garage, Located in Downtown Tacoma Municipal District. 99% Leased with Full Service Leases. The Roof was Recently Replaced in Early 2017, Recent Interior Updates, The Windows Re-Caulked, and the Building was Pressure Washed in 2018. Most of the Building is Locked Down with Key Card Access, All Viewings of Interior Offices upon Mutual Acceptance. Please Do Not Approach Tenants. Current Good Cap Rate @ 6%.

General Features
- County Pierce
- Approx Building SqFt 31,447
- Approx Office SqFt 25,556
- Approx Whse/Mfg SqFt 0
- Zoning Class Office, See Remarks
- Lot Dimensions 115 x 120 x 115 x 120
- Style 61-Comm Bldg Ovr 10K
- Total Covered Parking 62
- Total Uncovered Parking 0
- Zoning Jurisdiction City
Building Features
- Exterior Brick, Cement/Concrete, Metal/Vinyl, Wood Products
- Foundation Poured Concrete
- Roof Flat, See Remarks
- Floor Covering Ceramic Tile, Concrete, Vinyl, Wall-to-Wall Carpet
- Features Elevator, Signage Included, Sprinklered, Storage
- Loading Ramp
Property Features
- Depth of Lot 120
- Site Frontage 115
- Expansion Area N
- Environment Survey Y
- Water-Sewer-Garbage 21555
- Sewer Sewer Connected
- Sewer Company TPU
- Energy Source Electric, Natural Gas
- Power Company TPU
- Number of Available Pads 0
- Pad Ready N
- Lot Square Footage 13,800
Financials
- Vacancy Rate 1
- Total SqFt Rented 25,481
- Total Monthly Rent $49,282
- Gross Rent Multiplier 0
- Cap Rate -NOI div LP 6.00
- Gross Scheduled Income $49,282
- Gross Adjusted Income $591,380
- Total Expenses $0
- NOI $346,935
- Electrical Expenses $21,555
- Tax Expense $44,493
- Heating Expense $21,555
- Insurance Expense $6,176
- Other Expenses $86,000
- Tax Year 2019
- Annual Assoc. Dues $0

Neighborhood

98402 (Tacoma) Demographics

36 Median Age

6,394 Population Density (per sq. mile)

46% College Educated

$40,657 Estimated Median Income

439 Estimated Total Home Owners

2,916 Estimated Total Renters

13% / 87% Estimated Owner / Renter Divide

2 Estimated Average Household Size

6,023 Total Population

Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$332,500 Median Sales Price

16 Homes Sold

8 New On Market

Average Days on Market

Properties for Sale

Property History

Date	Event	Price	Percent Change
--	New in Database Source	New Value: $0	-100%
12/21/2019 12:00:00 AM	Sold Source	New Value: $5,550,000

Home Valuation

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This property search is part of the Prime Alliance Real Estate Services website. Listing information is courtesy of the WA-NWMLS and Prime Alliance Real Estate Services. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2020. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.

Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.

955 Tacoma Ave S $5,550,000