Tacoma, WA 98403,601 N K ST
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Tacoma, WA 98403,601 N K ST
Tacoma, WA 98403,601 N K ST
Tacoma, WA 98403,601 N K ST
Tacoma, WA 98403,601 N K ST
Listed by City Closers Real Estate
Bought with ZNonMember-Office-MLS

$1,375,000

Est. payment /mo

$1,425,000

3.5%
Est.Price: ?

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601 N K ST Tacoma, WA 98403

6,500 Sqft Lot

SOLD DATE : 05/13/2024

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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Northwest MLS (NWMLS)

Nathan Allan

Advisor | License ID: 23002463

+1(360) 499-2123

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