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601 N K Street

Tacoma, WA 98403
  • $1,425,000
  • STATUS: Pending
  • ID#: 2180621
Under Contract
UPDATED: 101 min ago
$1,425,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1905
County:
Area:

School Ratings & Info

Northwest MLS logo Listing information ©2024 Northwest MLS. Listing courtesy of City Closers Real Estate.
Mortgage Calculator is provided by BoomTown.

Description

Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-24T07:16:03.893. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-24T07:16:03.893. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.kwpropertypros.com/homes/145328925
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601 N K Street Tacoma, WA 98403

  • Price: $1,425,000
  • Status: Pending
  • On Site: Days
  • Updated: 101 min ago
  • ID#: 2180621
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1905
Built
Neighborhood:
North Tacoma
County:
Pierce
Area:
North Tacoma
Property Description
Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.
Exterior Features

Carport YN No Covered Spaces 0 Exterior Features Wood Open Parking YN No Parking Total 8 Roof Composition Structure Type Retail Style Code 75 - Retail Topography Level

Interior Features

Building Area Total 0 Cooling YN No Fireplace YN No Flooring Ceramic TileLaminateVinyl PlankCarpet Heating Baseboard Heating YN Yes Interior Features Ceramic TileWall to Wall CarpetLaminate Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Association Fee 0 Association YN No Energy Source ElectricNatural Gas FIRPTAYN No First Right Of Refusal No Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventional Lot Number 11 & 12 Net Operating Income 105867 Possession ClosingTenant's Rights Possible Use Commercial Power Company City Power Production Type ElectricNatural Gas Property Condition Average Property Sub Type Commercial Industrial Senior Community YN No Sewer Sewer Connected Sewer Company City Short Term Rental YN No Special Listing Conditions None Tax Annual Amount 4268 Tax Year 2023 Water Company City Water Source Public Year Built Effective 1988 Zoning Class Commercial Zoning Jurisdiction City



The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-24T07:16:03.893. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-24T07:16:03.893. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Keller Williams Realty
1029 E Main Street, Suite 201
Puyallup WA, 98372
Northwest MLS logo Listing information ©2024 Northwest MLS. Listing courtesy of City Closers Real Estate.
Mortgage Calculator is provided by BoomTown.