714 S 27th St, Tacoma, WA 98409

This property represents a rare opportunity to acquire a fully functional downtown Tacoma building that delivers real utility today while sitting on zoning that supports high-density residential redevelopment in the future. It is equally compelling for an owner-user seeking a centrally located institutional or commercial facility, and for an investor looking to control a long-term redevelopment site in the heart of a growing urban core.

The building is already configured to support education, training, office, and indoor industrial uses. At the same time, it is located within the City of Tacoma’s Downtown Residential zoning district — the City’s primary designation for high-density urban housing and mixed use development. That combination creates a clear two-stage investment story: operate today, redevelop tomorrow.

In the near term, the property is exceptionally well suited for educational and institutional users. The existing layout, scale, and infrastructure make it a natural fit for a private K–12 school, charter school, technical college, trade school, or workforce training center. The building’s heavy power capacity allows it to support advanced manufacturing, robotics, CNC, fabrication, and other equipment-intensive training programs — capabilities that are increasingly difficult to replicate in a downtown environment. For organizations focused on STEM education, industrial technology, or skilled trades, this building offers a turnkey urban campus solution.

Beyond education, the property also supports a wide range of professional, medical, and civic uses. Its configuration lends itself well to administrative offices, medical training and healthcare support services, government agencies, and professional service firms seeking a centrally located headquarters. For advanced manufacturing, research and development, or prototype operations, the building can accommodate light industrial activity entirely within the structure, consistent with Downtown zoning requirements.

What truly differentiates this asset, however, is its zoning and long-term redevelopment profile. The property is located within Tacoma’s Downtown Residential district, which is specifically intended to concentrate mid-rise, high-density residential development in the urban core. The City’s planning framework prioritizes mixed-use, pedestrian-oriented neighborhoods supported by transit, employment, and retail services. This zoning designation reflects the City’s long-term vision for downtown and positions the site squarely within the path of future residential growth.

For an investor or owner-user, this creates a highly attractive capital strategy. In the near term, the building can be acquired and placed into productive use as a school, training facility, office, or institutional headquarters, generating income while benefiting from downtown appreciation. Over time, as market conditions evolve, the site can be repositioned into a multifamily or mixed-use residential development aligned with the City’s long-term planning objectives.

This is not a speculative land parcel waiting for entitlement. It is a fully improved, income-capable asset with a built-in exit strategy

Downtown Tacoma continues to evolve as a high density residential and employment center, supported by transit, higher education, healthcare, and a growing urban population. Assets that offer both immediate functionality and long-term redevelopment optionality are increasingly difficult to find. This property stands apart as a rare opportunity to control a flexible downtown building with institutional-grade infrastructure, heavy power capacity, and one of the strongest residential zoning designations in the City.