Former Walgreens | High Yield Cash Flow 2024 6th Ave 13,309 SF Retail Building Tacoma, WA 98403 $3,500,000 ($262.98/SF) 15.98% Cap Rate

We are pleased to present the Walgreens property located at 2024 6th Ave in Tacoma, Washington (“The Property”) for sale. This vacant commercial property has a guaranteed lease term of approximately 11 years offering a high-yield cash flow for the next decade, allowing owner-users or investors to assess future development opportunities.
Tacoma is Washington's third most populous city with approximately 250,000 residents in a 5-mile radius of the Property. The city is expected to surpass Spokane, WA, by 2027, as Washington’s second-largest city. Positioned just 1.3 miles west of downtown Tacoma, the property benefits from this growth with private investments, exceeding public funding by nearly a 4:1 ratio, which has poured over $1 billion into downtown Tacoma. This includes developments such as "The Rook," a 386-unit complex, "Cornus House," a 199-unit complex, "Proctor Flats," a 95-unit complex, and "Aspire 11 a 343,000 SF mixed-use project which consists of retail and 289 apartment units.
The Property is also in close proximity to several educational institutions. Within a 1-mile radius of the Property, The University of Puget Sound and Bates Technical College have a combined 9,100 students. Additionally, the University of Washington has a Tacoma Campus (2.3 mi SE) that enrolls 4,814 students across its 46-acre campus comprising of 22 buildings.

Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, WA DRE Lic. 27380.