702 Broadway - Retail FOR SALE


Tacoma, WA 98402
$1,995,000 USD
702 Broadway, Tacoma, WA for Sale
$1,995,000 USD
Retail - FOR SALE
1/6
null | 6.71% Cap Rate

702 Broadway
Tacoma, WA 98402


HIGHLIGHTS

  • HIGH GROWTH SUBMARKET
  • CONVENIENT LOCATION AND ACCESS
  • LEASE CONVERSION OPPORTUNITY
  • SIGNIFICANT RENTAL UPSIDE
  • EXCEPTIONAL TENANT MIX

OVERVIEW

The Vara Group is pleased to present the sale offering for the premier office property located at 702 Broadway in Downtown Tacoma. The exceptional location of this asset offers businesses a prime opportunity to establish their presence in a vibrant and growing market. This building’s presence on the corner of 7th and Broadway provides unparalleled visibility and accessibility, making it an ideal choice for companies seeking a prestigious address. Spanning across spacious and modern floor plans, 702 Broadway offers flexible office spaces that can be tailored to meet the unique needs of businesses of all sizes. The property’s proximity to key transportation hubs and major highways allows for seamless commuting and convenient access for clients and employees alike. With a rent roll comprised of 33 suites, this property provides tremendous rental upside to improve the current average rent of $21.06 / SF NNN to the submarket average of $28.02.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

6.71%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1914

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

DCC

APN/PARCEL ID

200706-0016

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