Bought with ZNonMember-Office-MLS
$1,375,000
$1,425,000
3.5%For more information regarding the value of a property, please contact us for a free consultation.
601 N K ST Tacoma, WA 98403
6,500 Sqft Lot
Key Details
Sold Price $1,375,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision North Tacoma
MLS Listing ID 2180621
Sold Date 05/13/24
Style 75 - Retail
Year Built 1905
Annual Tax Amount $4,268
Lot Size 6,500 Sqft
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.
Location
State WA
County Pierce
Area 21 - North Tacoma
Interior
Interior Features Ceramic Tile, Laminate, Wall to Wall Carpet
Flooring Ceramic Tile, Laminate, Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Wood
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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"Three Trees" icon indicates a listing provided courtesy of NWMLS.