601 N K Street, Tacoma, WA 98403
- $1,375,000
Listing courtesy of City Closers Real Estate. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,375,000
- List Price
- $1,425,000
- Status
- SOLD
- MLS#
- 2180621
- Closing Date
- May 13, 2024
- Days on Market
- 424
- Annual Tax Ammount
- 4268
- Internet Provider
- Comcast
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.
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Additional Information
- Community
- North Tacoma
- Building Condition
- Average
- Style
- 75 - Retail
- Year Built
- 1905
- # of Assigned Spaces
- 8
- Roof
- Composition
- Tax Year
- 2023
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Ceramic Tile, Laminate, Wall to Wall Carpet
- Flooring
- Ceramic Tile, Laminate, Vinyl Plank, Carpet
- Driving Directions
- GPS is accurate.
- Other Expenses
- 696
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $105,867
- Gross Scheduled Income
- $111,600
- Cap Rate
- 7.42
- Total Expenses
- $9,340
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.