621 Pacific Ave | Tacoma, WA 98402
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- LoopNet Team
621 Pacific Ave
Tacoma, WA 98402
One Pacific Building · Office Property For Sale
Investment Highlights
- ICONIC TROPHY ASSET Built in 1890, the One Pacific Building (aka: Northern Pacific Railway Building) is a historic Italian Renaissance.
- SMALL AVERAGE SUITE SIZE With an efficient 1,200 square foot average suite size, the building has had excellent long term historical occupancy.
- HIGH GROWTH SUBMARKET Tacoma is experiencing it’s long overdue growth revival with major infrastructure, transit and core improvements.
- SIGNIFICANT RENTAL UPSIDE Current average rent is approx. $14.79 semi-gross with market rent estimated at $16-22 NNN.
- EXCEPTIONAL TENANT-MIX The building is a magnet for a variety of professional essential service tenants.
- CONVENIENT LOCATION & ACCESS The property benefits from an excellent core Downtown location with easy walking access to all of the Downtown Tacoma.
PROPERTY FACTS
Property Type
Office
Building Size
31,765 SF
Building Class
B
Year Built/Renovated
1888/1983
Percent Leased
64%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
6,353 SF
Building FAR
1.38
Lot Size
0.53 AC
Zoning
B, Tacoma - Historic district of downtown Tacoma
Parking
44 Spaces (1.39 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Controlled Access
- Security System
- Signage
- High Ceilings
- Natural Light
- Wi-Fi
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 032004-2023 | Improvements Assessment | $2,179,400 |
| Land Assessment | $1,539,700 | Total Assessment | $3,719,100 |
PROPERTY TAXES
Parcel Number
032004-2023
Land Assessment
$1,539,700
Improvements Assessment
$2,179,400
Total Assessment
$3,719,100
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