2024 6th Ave - Freestanding FOR SALE


Tacoma, WA 98403- Central
$5,592,440 USD
619-297-0055
2024 6th Ave, Tacoma, WA for Sale
$5,592,440 USD
Freestanding - FOR SALE
1/2
null | 10% Cap Rate

2024 6th Ave
Tacoma, WA 98403
Central


HIGHLIGHTS

  • In a 5-mile radius the population is 249,502 residents with an average household income of $93,968.
  • Nearby hospitals include MultiCare Tacoma General Hospital (0.5 mi NE) with 437 beds and St. Joseph Medical Center (1.4 mi SE) with 374 beds.
  • ± 220 apartment complexes with a total of ±6,200 units, with an additional 289 units in the recently constructed within 1 mile.
  • Located in the immediate area are The University of Puget Sound, Bates Technical College and the University of Washington - Tacoma.

OVERVIEW

We are pleased to present the Walgreens property located at 2024 6th Ave in Tacoma, Washington (“The Property”) for sale. This vacant commercial property has a guaranteed lease term of over 11 years with a remaining income of $6,500,000 from its lease with Walgreens. This opportunity offers high-yield cash flow for the next decade, allowing owner-users or investors to assess future development opportunities. Tacoma is Washington's third most populous city with approximately 250,000 residents in a 5-mile radius of the Property. The city is expected to surpass Spokane, WA, by 2027, as Washington’s second-largest city. Positioned just 1.3 miles west of downtown Tacoma, the property benefits from this growth with private investments, exceeding public funding by nearly a 4:1 ratio, which has poured over $1 billion into downtown Tacoma. This includes developments such as "The Rook," a 386-unit complex, "Cornus House," a 199-unit complex, "Proctor Flats," a 95-unit complex, and "Aspire 11 a 343,000 SF mixed-use project which consists of retail and 289 apartment units. The Property is also in close proximity to several educational institutions. Within a 1-mile radius of the Property, The University of Puget Sound and Bates Technical College have a combined 9,100 students. Additionally, the University of Washington has a Tacoma Campus (2.3 mi SE) that enrolls 4,814 students across its 46-acre campus comprising of 22 buildings. Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, WA DRE Lic. 27380.

FOR SALE DETAILS

PRICE

$5,592,440 USD

PRICE/SF

$420 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Drug Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

NCX, Tacoma

APN/PARCEL ID

032006-1057,351500-0074

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.