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Orchard Professional Plaza 5314-5316 Orchard St W 10,097 SF 33% Leased Office Building University Place, WA 98467 $1,755,000 ($173.81/SF)
INVESTMENT HIGHLIGHTS
- Excellent Owner/User Opportunity with Existing Income
- Dedicated Parking
- Recent Capital Expenditures
- Strategic Location
- Flexible Space
- Strong Demographics
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the well established, mixed-use property in the University Place neighborhood of Tacoma, WA. Positioned on the corner of 53rd St W and South Orchard Street, the property benefits from strong traffic exposure, with nearly 21,000 vehicles passing daily.
The multi-tenant building offers 10,097 SF of flexible space, featuring a first-floor office, a finished basement/warehouse, and one residential apartment unit. The offering’s strategic location and diverse tenancy provide a unique opportunity for investors or businesses looking to expand their footprint in an ever-growing market. For more information, please visit: https://www.marcusmillichap.com/properties/174737/deal-room/a9a37fc50f8d35c8
The multi-tenant building offers 10,097 SF of flexible space, featuring a first-floor office, a finished basement/warehouse, and one residential apartment unit. The offering’s strategic location and diverse tenancy provide a unique opportunity for investors or businesses looking to expand their footprint in an ever-growing market. For more information, please visit: https://www.marcusmillichap.com/properties/174737/deal-room/a9a37fc50f8d35c8
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$167,403
|
$16.58
|
| Other Income |
$57,064
|
$5.65
|
| Vacancy Loss |
$11,223
|
$1.11
|
| Effective Gross Income |
$213,244
|
$21.12
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$61,938
|
$6.13
|
| Net Operating Income |
$151,306
|
$14.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $167,403 |
| Annual Per SF | $16.58 |
| Other Income | |
|---|---|
| Annual | $57,064 |
| Annual Per SF | $5.65 |
| Vacancy Loss | |
|---|---|
| Annual | $11,223 |
| Annual Per SF | $1.11 |
| Effective Gross Income | |
|---|---|
| Annual | $213,244 |
| Annual Per SF | $21.12 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $61,938 |
| Annual Per SF | $6.13 |
| Net Operating Income | |
|---|---|
| Annual | $151,306 |
| Annual Per SF | $14.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
10,097 SF
Building Class
B
Year Built
1983
Price
$1,755,000
Price Per SF
$173.81
Percent Leased
33%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,049 SF
Slab To Slab
8’
Building FAR
0.46
Lot Size
0.50 AC
Zoning
MU - Mixed Use
Parking
27 Spaces (2.67 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
1 1
PROPERTY TAXES
| Parcel Number | 022023-5010 | Improvements Assessment | $1,192,900 |
| Land Assessment | $636,400 | Total Assessment | $1,829,300 |
PROPERTY TAXES
Parcel Number
022023-5010
Land Assessment
$636,400
Improvements Assessment
$1,192,900
Total Assessment
$1,829,300
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Orchard Professional Plaza | 5314-5316 Orchard St W
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