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TACOMA OWNER/USER // REDEVELOPMENT 622 Tacoma Ave S 8,277 SF 51% Leased Office Building Tacoma, WA 98402 $2,024,084 CAD ($244.54 CAD/SF)
INVESTMENT HIGHLIGHTS
- Office building with strong potential to create strong cash flows indefinitely.
- Initial planning for a 7-story vertical mixed-use development: 79,122 GSF; 46,140 SF Residential + 1,653 SF Commercial Spaces
- The building can be half-occupied by owner-user ASAP, and 100% occupied by mid-2025, or be leased out to market.
- Anchored by UW Tacoma campus and centrally located in fast growing area.
EXECUTIVE SUMMARY
The building can be half-occupied by owner-user ASAP, and 100% occupied with 135-day notice.
Additionally, Johnston Architects has conducted initial planning for a vertical mixed-use (primarily apartment) development. These plans envision a 7-story project containing 79,122 Gross SF 46,140 SF of residential plus 1,653 SF of commercial spaces.
Additionally, Johnston Architects has conducted initial planning for a vertical mixed-use (primarily apartment) development. These plans envision a 7-story project containing 79,122 Gross SF 46,140 SF of residential plus 1,653 SF of commercial spaces.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
8,277 SF
Building Class
C
Year Built
1956
Price
$2,024,084 CAD
Price Per SF
$244.54 CAD
Percent Leased
51%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,139 SF
Slab To Slab
9’
Building FAR
0.51
Lot Size
0.37 AC
Zoning
DR - DR: Downtown Residential District
Parking
24 Spaces (2.9 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Signage
- Balcony
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Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 200612-0040 | Improvements Assessment | $1,404 CAD |
| Land Assessment | $1,474,235 CAD | Total Assessment | $1,475,639 CAD |
PROPERTY TAXES
Parcel Number
200612-0040
Land Assessment
$1,474,235 CAD
Improvements Assessment
$1,404 CAD
Total Assessment
$1,475,639 CAD
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TACOMA OWNER/USER // REDEVELOPMENT | 622 Tacoma Ave S
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