955 Tacoma Ave S $5,550,000

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    955 Tacoma Ave S Tacoma, WA 98402

    Sold
    SOLD 12/21/2019

    $5,550,000

    Market Estimate
    • 0.32 Acres
    • Commercial/Industrial
    • Listing# 1347706
    Favorite Share
    Views: 287 Days On Market: 59

    Property Details

    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

    $327,500 Median Sales Price
    4 Homes Sold
    11 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- New in Database Source New Value: $6,175,000 11.26%
        12/21/2019 12:00:00 AM Sold Source New Value: $5,550,000 -5.93%
        12/17/2019 5:13:55 PM Status Changed Source New Value: Pending
        11/5/2019 6:31:29 PM Price Reduced Source New Value: $5,900,000

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        This property search is part of the Berkshire Hathaway HomeServices Northwest Real Estate website. Listing information is courtesy of the WA-NWMLS and Berkshire Hathaway HomeServices Northwest Real Estate. 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.