Tacoma, WA Retail Property For Sale

For Sale | The 602 E. 11th Street Cafe

602 E. 11th Street, Tacoma, WA 98421

Property Highlights

● Turn Key Restaurant: Decades of branding provides new owner access to commercial kitchen amenities, including fridges, freezers, flat top, fryers, hoods, vents, and sinks.

● Remodel Opportunity: Bring your general contractor to upgrade and serve your regional clientele. Sold as-is.

● Dynamic Entrypoint: Located directly east across the vibrant waterfront in Tacoma, Washington, all walking distance.

● Strategic Location: Port of Tacoma sits on more than 2,500 acres of land used for shipping terminal activity, warehousing distribution and light industrial.

● Diversified Workforce: Tacoma boasts 98,060 employees, many in maritime, logistics, manufacturing, industrial as well as Port of Tacoma public employees

Building Size: 6,936 SF

Land Size: 15,000 SF

Sale Price: $1,550,000

• Mixed retail with multifamily units

• Property consists of a convenience store, massage, and four upstairs apartment units (call to discuss income)

• Adjacent 15,000 SF gravel lot also available for development or additional parking ($625,000)

Welcome to a prime Owner- User opportunity! A mixed-use retail/warehouse building strategically situated in Tacoma's tax-incentivized Opportunity Zone and nestled in the vibrant Brewery District of Downtown Tacoma. This two-story, 10,000 SF property presents a spacious layout with exceptional potential, ideally located within walking distance to newly constructed high-rise residential developments, the University of Washington Tacoma, light rail access, and convenient freeway connections.

UNIT 2301 (Vacant):

-Size:3,750 square feet of open-concept retail space.

- Features: Can be divided as needed; internal stairwell access to 5,000 square feet of warehouse space below.

- Opportunity: Customize for various retail purposes.

UNIT 2307 (Leased):

- Size: Leased out with a signed 5-year lease starting April 2024.

- Tenant: Wine Maker and tasting room.

- Opportunity: Immediate rental income with a stable lease agreement.

WAREHOUSE:

- Size: 5,000 square feet.

- Features:

- Clear height of 16 feet.

- Two bay doors (loading dock and ramp access).

- Secure, paved yard.

- Modern LED lighting and updated electrical panels.

- Configurable as one or two separate spaces.

- Opportunity: Versatile use for storage, distribution, or light industrial activities.

ADDITIONAL PROPERTY HIGHLIGHTS:

Abundant natural light throughout the retail units creates an inviting atmosphere. Dedicated storefront parking and ample free street parking are available for customers and tenants. Recent upgrades include a new roof, fresh parking lot surfaces, complete asbestos abatement, upgraded electrical panels for both retail and warehouse areas, and a new sewer line.

Branch closes 4/26/24, please do not disturb tenant.

10-Year, Absolute Net Ground Lease Located at Westgate South Shopping Center

The Offering is a 1,650 SF Shell gas station and car wash adjacent to the Westgate South Shopping Center, a 125K+ SF shopping center anchored by Big Lots and Planet Fitness. The property is positioned directly at the intersection of North Pearl Street and North 26th Street, a dynamic daily needs trade area exposed to over 23,000 VPD and high-density surrounding residential. Shell Oil is a global oil and gas company with more than 25,000 locations worldwide and has occupied the property since construction in 1983. This Shell location is leased by PacWest Energy, who currently pays ~30% below-market ground rent at $96K, and has recently signed a lease extension through April 2033 with a 10% base rent increase in April 2028, increasing yield by 52 basis points.

Building 8 is a 10,110 SF building with 4 retail suites. The property is currently 82.2% occupied with MultiCare Indigo Urgent Care, Obee Credit Union, and Rebels & Lovers clothing store.

The properties are currently under court-appointed receivership. Any offer will require a sale motion and court approval. Please fill out the confidentiality agreement to access the offering memorandum and due diligence materials. Visit the offering website in the attached links to register.

Century Theater is a 35,815 SF condo that is fully occupied by Century Theater, Inc. Century Point Ruston was opened in 2015 with nine screens and "luxury lounger" recliner seats. Century operates under the parent company Cinemark, a publicly traded company out of Dallas that operates hundreds of theatres across the Americas.

The property is currently under court-appointed receivership. Any offer will require a sale motion and court approval. Please fill out the confidentiality agreement to access the offering memorandum and due diligence materials. Visit the offering website in the attached links to register.

Situated on a generous 1.71-acre (74,492 square foot) level lot, the property is primed for redevelopment. The C-2 zoning designation provides flexibility for a variety of end uses, including offices, retail establishments, hospitality ventures, and more.

• Total Land Area: 74,492 SF (1.71 AC)

• Price Per Square Foot Land: $26.78

• Total Building Area: 13,992 SF // Built 1992

• Price Per Square Foot Building: $148.58

• Zoning: C2 - General Community Commercial District

• Great access and visibility to and from I-5

• Great visibility, corner building.

• Restaurant on main floor, second floor banquet room and vacant apartments on the third floor.

• Built 1904 and remolded in 1975.

• The zoning is Downtown Mixed Use (DMU) City of Tacoma.

• Maximum building height is 100 feet.

• Blocks away from the Tacoma Dome, Sounder Transit station and Tacoma Link Light Rail.

• Easy access to major highways.

• Proximity to downtown Tacoma.

• Approximately 1,000 newly built multi-family units in surrounding area.

Two credit tenants on a 1.65 acre parcel. Enterprise invested over $1MM in tenant improvements and Verizon paid for and built a pad with cell tower. Newer HVAC heat pump has been installed. Long term leases for both tenants with 2 and 3% yearly escalators. Phase One and limited Phase Two environmental assessment completed in 2019 and 2020. Leases are NNN with real estate taxes and risk insurance paid directly by tenants. This is the investment you've been looking for. Value is ultimately in the real property market value. Buyer to verify all information to their satisfaction. Tax iD #: 0320337011

Explore the possibilities of this well-established gas station presenting an exceptional value-add prospect.

For the first time in 45+ years, seize the chance to own 23,500 SF of prime land, featuring a thriving business included with the property.

Benefit from C-I Zoning, allowing a maximum height of 35 feet and versatile use options, encompassing offices, retail spaces, restaurants, gas services, and personal services. Uncover the potential in this one-of-a-kind commercial real estate opportunity.

Investors! Capitalize on this high performing, turnkey building in North End Tacoma. Watch the video OM: https://vimeo.com/884736890 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 more 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.

Priced To Sell Self-Service Gas Station Located In The Thriving City Of Tacoma, WA. FLEXIBLE OWNER FINANCING. 2018: $69,075. 2019: $74,573. 2020: $65,588. 2021: $67,757. 2022: $69,960. Totaling $346,953 At A Average of $69,391. Leased To A Reliable National Tenant Operating Under A Triple Net Lease Agreement Until 5.31.26. Monthly Rent $5,023.41. Additional Revenue Stream $.015 Per Gallon Bonus For Sales Exceeding 40,000 Gallons, Coupled With An Annual CPI Increase. September 2023 was 64,000 gallons. Solid 6.3% Avg Cap Rate. Excellent Location On A Spacious 16,750 Sqft Corner Lot Along The South Tacoma Way. Furthermore, A “No Further Action Report” From The Washington State Department Of Ecology Is Coming Soon Since The Tanks Were All Replaced In The 1990s. There's A Strong Likelihood Of The Tenant Renewing Or Extending Their Lease until 5.31.31.

The Tacoma Bike Building, positioned on bustling 6th Avenue along the bus line and neighboring a variety of renowned restaurants and bustling pedestrian traffic, presents an excellent investment opportunity. With its location in NCX zoning, the site offers the potential for a future mixed-use project, making it a compelling choice for those seeking long-term cash flow.

Zoned 502 Compliant. Owner will no longer consider selling to another marijuana retailer. 2,445sq ft. retail/office space with 4 offices, 2 baths, high traffic and visibility. Possible owner financing available.

Also now being added for lease ($4,200 + NNN Per Month) effective 6.29.23

Versatile commercial/residential opportunity on a busy intersection. Live work space. Currently salon/spa with ample parking. Flexible zoning allows for restaurant/cafe (would need to upgrade to commercial kitchen) or office. Remodel features new flooring, first floor windows, lighting, hot water heater, second floor HVAC installation, and select interior/exterior paint. Near Safeway, Starbucks, and other retail. Sold as is. Building boarded but can be viewed by request. Text message preferred - 253.237.2042. Owner-financing available. Listing agent is owner of property.

Affordable mixed-use building in desirable industrial location of Tacoma, near South Tacoma Way. Currently producing $78,540 per year gross. Shorter term tenants in place allow for an owner-user to occupy a portion if desired.

Centered in the historic Brewery District, BREWERY BLOCKS adds more than 200 residential units, 250 parking stalls, 75,000 SF of Class A office and 42,000 SF of retail and restaurants. The site offers easy access to public transportation and is surrounded by a variety of dining and retail amenities.

Looking for the perfect space to establish or expand your business? Look no further! Nestled in the heart of Tacoma, this small building offers an unbeatable opportunity for owner-users seeking high visibility and accessibility.Invest in your business's future by owning the space you operate in, providing stability and long-term financial benefits.Situated on a bustling highway, your business will enjoy maximum exposure to passing traffic, ensuring constant visibility. Don't miss out on this rare chance to secure your spot in Tacoma's bustling business landscape.

Clean, clear and ready for move in. 22-24 foot clear height ceilings, new restrooms, water lone and sewer line. Fully sprinklered for high occupancy.

Near the 50 Yard line of Downtown Tacoma. Great access to I-705 and surrounded by businesses and parking. Next to the Commerce Building and located in the North Parking Garage.

Great investment. Auto Sales Lot. Tenant pays $5,500 per month until February 1, 2028.With a cap rate of 7.5%

Great opportunity to own two Buildings in the South Tacoma neighborhood Prime corner lot with two parcels/addresses approximately 20K Lot

Building 1 is operated by Tacos Guaymas for over 20 years, with Drive-through and a very profitable business.

Building 2 office space, just vacated with many opportunities

The Proctor Property is on the corner of N. Proctor and 27th and includes the vacant lot next to it at 3810 N. Proctor. Parcels are 747501-2-180 and 747501-2-240. The building is 10,415sf and the land is 21,000sf. Please do not disturb the three tenants. Tax iD #: 7475012180; 7475012240

Total Building Size: 30,053 SF

End Cap Available

- includes 7,651 SF retail / 3,571 flex

Up to 19,203 SF available (with 7,981 SF sublease opportunity)

High Visibility, Hard Corner at So. 38th & So. Cedar St.

Rear Loading (dock & grade level) & Yard

Zoning: Urban Center Mixed Use (UCX STGPD)

High Density-Regional Growth Center & Opportunity Zone.

Lease Rate: $15.00/SF, NNN

Purchase Price: $6,500,000 ($216.28 SF)

91 ft height. No setback. Seaview from 2nd floor.

INVESTMENT HIGHLIGHTS

Stability and Rent Growth

• Average Rents 30% below Trade Area Average

NOI growth

• Every lease has annual increases

Strong Demographics

• Population of 148,000+ and $106,992 Average Household

Income in 3 mile radius

Local Anchors

• Within 1 Mile:

Great investment opportunity, complex has 2 building with 4 long term retail tenants, plus an additional parking area in the back. Hold and develop in the future, property has already gone for most of the permitting process for development.

Currently leased, please call broker for showing instructions. Zoned Downtown Residential District with 90 Ft. height limit. /Secured grade-level loading in back of property. Seller financing available. Close to light rail, Downtown Tacoma, and Wright Park.