102 South 26th St, Tacoma, WA for sale

Investment Overview

NAI Puget Sound Properties is pleased to exclusively offer for sale 102 S 26th Street in Tacoma, Washington. The approximately 14,888-square-foot multi-tenant flex property is situated on an approximately 11,700-square-foot parcel and is occupied by a diverse mix of neighborhood retail, creative, fitness, residential and flex industrial users. The property has undergone extensive renovations, including the addition of a luxury apartment, upgraded plumbing and electrical systems, and the demising of spaces for multiple tenants and uses. The property is offered at $1,550,000, reflecting a 8.04% CAP Rate on current net operating income of $124,666. In-place rents are below current market levels, creating an opportunity to increase income as leases expire in 2030 and spaces are renewed or re-leased at market rates. The offering combines stabilized near-term cash flow with meaningful future mark-to-market upside in a well-located Tacoma asset.

Investment Highlights

• 100% Occupied Multi-Tenant Flex Investment
• Attractive 9.02% CAP Rate Average Over Lease Terms
• All Leases Extend Through 2030
• Stabilized Long-Term Income with Limited Rollover
• Low Price of Only $111 Per Square Foot
• Significant Income and Mark-To-Market Upside
• Upstairs Apartment Currently Leased Well Below Market
• Price: $1,550,000 ($104/SF)