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Park Plaza 502-512 112th St S 21,600 SF 100% Leased Retail Building Tacoma, WA 98444 $2,600,000 ($120.37/SF) 4.30% Cap Rate
Investment Highlights
- Corner locations
- High traffic count
Executive Summary
Great opportunity to own a 20,000 square foot +/- commercial building in Parkland. First time on the market in over 50 years. A good mix of tenants. Very low vacancy. The adjacent 1/2 acre +/- vacant lot is included (Parcel #031909-2-059). Urban Corridor (UCOR): Maximum density of 60 housing units per acre and generally a maximum height of 55 feet. 76 parking spaces! Buyer to verify all information. Call today for more details. Cap rate based on commercial building only. Vacant lot valued at $600,000, so affects the total cap rate.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
21,600 SF
Building Class
C
Year Built
1959
Price
$2,600,000
Price Per SF
$120.37
Cap Rate
4.30%
NOI
$111,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Lot Size
1.20 AC
Zoning
UCOR - Urban Corridor (UCOR): Maximum density of 60 housing units per acre and generally a maximum height of 55 feet.
Parking
65 Spaces (3.01 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $2,471,200 (2025) | |
| Land Assessment | $1,511,100 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $960,100 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Numbers
Land Assessment
$1,511,100 (2025)
Improvements Assessment
$960,100 (2025)
Total Assessment
$2,471,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Park Plaza | 502-512 112th St S
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