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Orchard Professional Plaza 5314-5316 Orchard St W 10,097 SF 33% Leased Office Building University Place, WA 98467 $1,625,000 ($160.94/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 - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$170,573
|
$16.89
|
| Other Income |
$44,788
|
$4.44
|
| Vacancy Loss |
$13,646
|
$1.35
|
| Effective Gross Income |
$201,715
|
$19.98
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$52,602
|
$5.21
|
| Net Operating Income |
$149,113
|
$14.77
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $170,573 |
| Annual Per SF | $16.89 |
| Other Income | |
|---|---|
| Annual | $44,788 |
| Annual Per SF | $4.44 |
| Vacancy Loss | |
|---|---|
| Annual | $13,646 |
| Annual Per SF | $1.35 |
| Effective Gross Income | |
|---|---|
| Annual | $201,715 |
| Annual Per SF | $19.98 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $52,602 |
| Annual Per SF | $5.21 |
| Net Operating Income | |
|---|---|
| Annual | $149,113 |
| Annual Per SF | $14.77 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
10,097 SF
Building Class
B
Year Built/Renovated
1983/2024
Price
$1,625,000
Price Per SF
$160.94
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
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Move in ready suite fully built out for office use. Previously occupied by a law office. Features multiple private offices, conference rooms, lobby/reception, printing area, kitchen/break room, and file storage. Possible to be demised into two separate suites: Suite 1A, 3,100SF on 1st floor and 1,000 SF of basement space; and Suite 1B, 2,700 SF on 1st floor.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 1A-1B | 2,700-6,800 SF | Office | Full Build-Out | Now |
1st Fl-Ste 1A-1B
| Size |
| 2,700-6,800 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Fl-Ste 1A-1B
| Size | 2,700-6,800 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Move in ready suite fully built out for office use. Previously occupied by a law office. Features multiple private offices, conference rooms, lobby/reception, printing area, kitchen/break room, and file storage. Possible to be demised into two separate suites: Suite 1A, 3,100SF on 1st floor and 1,000 SF of basement space; and Suite 1B, 2,700 SF on 1st floor.
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 022023-5010 | Improvements Assessment | $1,192,900 (2025) |
| Land Assessment | $636,400 (2025) | Total Assessment | $1,829,300 (2025) |
Property Taxes
Parcel Number
022023-5010
Land Assessment
$636,400 (2025)
Improvements Assessment
$1,192,900 (2025)
Total Assessment
$1,829,300 (2025)
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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Orchard Professional Plaza | 5314-5316 Orchard St W
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