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13th & Pacific Ave - Tacoma Super Block 1.59 Acres of Commercial Land Offered at $11,412,000 in Tacoma, WA 98402
EXECUTIVE SUMMARY
Lee & Associates is pleased to present the opportunity to purchase Tacoma’s premier development site, the Super Block. Located in the heart of the Financial District and immediately adjacent to freeway on and off ramps, the site is ideally situated for a new development. Initial studies and drawings indicate an ability to build over 480,000 square feet of office, retail, hospitality, and/and multifamily to a height limit of 400’ on the existing ±69,165 SF lot, with additional underground parking. A developer would have the ability to vacate the alley between the two blocks, providing approximately 12,000 SF of additional land, and almost 2 contiguous acres in total. Extensive pre-development work has been completed including construction drawings for a ±250,000 office building, and multiple massing studies depicting up to a 665,000 SF office building with underground parking and retail. The Super Block currently has approximately 304 parking stalls, including secure underground parking.
Interim parking income and extensive pre-development/due diligence work provides a developer a clear path forward.
This site also falls within a Qualified Opportunity Zone.
Interim parking income and extensive pre-development/due diligence work provides a developer a clear path forward.
This site also falls within a Qualified Opportunity Zone.
PROPERTY FACTS
| Price | $11,412,000 | Proposed Use | |
| Sale Type | Investment | Total Lot Size | 1.59 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | DCC | ||
| Price | $11,412,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.59 AC |
| No. Stories | 1 |
| Opportunity Zone |
Yes |
| Zoning | DCC |
1 LOT AVAILABLE
Lot
| Price | $11,412,000 | Lot Size | 1.59 AC |
| Price Per AC | $7,177,358.49 |
| Price | $11,412,000 |
| Price Per AC | $7,177,358.49 |
| Lot Size | 1.59 AC |
DESCRIPTION
The Super Block is currently operating as a parking lot with approximately 304 parking stalls in place. Approximately 201 stalls are above grade and approximately 103 stalls are below grade on the West side of the property, providing a high parking stall count for the land area. With recent positive absorption in the office market, parking demand is increasing. This site is centrally located to several office buildings that rely on it for parking.
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $145,400 | |
| Land Assessment | $7,859,600 | Total Assessment | $8,005,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$7,859,600
Improvements Assessment
$145,400
Total Assessment
$8,005,000
CONTACTS
-
Harrison Laird -
John Bauder CCIM -
Lee & Associates Commercial Real Estate Services
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13th & Pacific Ave - Tacoma Super Block
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