2301 Pacific Avenue
Retail | 4,272 SqFt
Marketing description
This unique offering consists of two separate commercial buildings situated on one parcel along Pacific Avenue. One building is occupied by an established glassblowing studio, providing in-place rental income, while the second building is currently vacant and was previously operated as a successful burger restaurant for many years.
The vacant building presents an excellent opportunity for an owner-user to establish their own business while benefiting from income generated by the neighboring tenant. Investors will appreciate the property’s upside through lease-up of the vacant space, rental growth potential, and the opportunity to stabilize the asset.
Conveniently located just minutes from Interstate 5 and downtown Tacoma, the property offers excellent visibility and access along Pacific Avenue, a well-traveled commercial corridor.
Investment highlights
- Two Separate Commercial Buildings on one parcel totaling 4,272 SF.
- Income-Producing Asset with one building leased to an established glassblowing studio.
- Owner-User Opportunity with one vacant building ready for immediate occupancy.
- Value-Add Potential through lease-up of the vacant building and future rental growth.
- Current Tenant Renewal in Progress, offering potential for continued in-place income.
- High-Visibility Pacific Avenue Location with strong frontage and convenient access to I-5 and downtown Tacoma.
- Flexible Commercial Zoning allowing a variety of retail, service, showroom, studio, or commercial uses (buyer to verify).
- Established Retail Corridor surrounded by complementary commercial businesses.
- Projected Pro Forma Cap Rate: Approximately 6.7%, based on stabilized occupancy. Pro forma income is projected. Current tenant lease renewal is in progress.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
