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Urban Storage (3PM)
Mixed Use | 5.13% CAP | 45,000 SF
Listing Contacts
License: CA #01889017
Active
Address
1401 S Sprague Ave, Tacoma, WA 98405
Show on MapDate Added
Apr 1, 2025
Days on Market
41 days
Time Since Last Update
41 days
Details
Property TypeMixed Use, Self Storage, Special Purpose
Investment TypeStabilized
Square Footage45,000
Net Rentable (sq ft)39,925
Cap Rate5.13%
Pro-Forma Cap Rate6.00%
Occupancy80.9%
NOI$256,563
Pro-Forma NOI$300,000
Units353
Year Built1987
ZoningCommercial
Lot Size (acres)2.317
Broker Co-OpYes
APN320057006
OwnershipPrivate
INTELLIGENCEMarketing Description
• 3rd party managed by Urban Storage
• 301 storage units, 6 commercial spaces and 46 parking stalls
• Potential rents of $581,395
• 2023 Net Operating Income of $260,621
• Current debt of $4,100,000 held by 1st Security Bank of Washington
• Shell Gas Station & Food Mart on a long-term lease to an independent operator
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$256,563.00
$21,380.25/mo
Valuation Metrics
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0
DSCR
6.11%
Cap Rate
6.11%
ROI
Property History
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Due Diligence
Listing Contacts
- License: CA #01889017
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Additional Information
Broker of Record
Nate Fliflet
Broker of Record: License Type
WA license
Broker of Record: Company Name
Colliers
Broker of Record: Title
Vice President
Broker of Record: Company Address
601 Union Street, Ste 5300, Seattle, WA 98101
Broker of Record: Phone Number
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