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602 Tacoma Ave S
Tacoma, WA 98402
Land For Sale
·
0.37 AC
Investment Highlights
- 16,250 SF corner lot zoned Downtown Residential (DR) with 90-foot height limit.
- Potential for 135–160 multifamily units or mixed-use development.
- Seller financing available; priced significantly below tax-assessed value.
- No setback requirements, allowing for maximum design flexibility.
- Located near University of Washington Tacoma, hospitals, and county services.
- Zoning permits up to 90-foot building height with no setbacks, optimizing buildable area.
Executive Summary
This 16,250 SF corner lot in downtown Tacoma offers a premier development opportunity with flexible zoning and high-density potential. Zoned Downtown Residential (DR), the site allows for high-rise development up to 90 feet with no setbacks, supporting a wide range of uses including multifamily, mixed-use, retail, office, and educational facilities.
Strategically located near Wright Park, the Stadium District, and the Theater District, the property provides excellent connectivity to the University of Washington Tacoma campus, major hospitals, and Pierce County courts. The site is currently improved with over 35 parking spaces and offers easy access from three sides, ensuring strong visibility and traffic flow.
Seller financing is available, and the property is priced at $850,000—approximately $600,000 below its tax-assessed value—making it an attractive option for developers seeking a high-demand urban location. Projections indicate the potential for 135 to 160 multifamily units, making this an ideal site for residential or mixed-use development in a growing downtown market.
Strategically located near Wright Park, the Stadium District, and the Theater District, the property provides excellent connectivity to the University of Washington Tacoma campus, major hospitals, and Pierce County courts. The site is currently improved with over 35 parking spaces and offers easy access from three sides, ensuring strong visibility and traffic flow.
Seller financing is available, and the property is priced at $850,000—approximately $600,000 below its tax-assessed value—making it an attractive option for developers seeking a high-demand urban location. Projections indicate the potential for 135 to 160 multifamily units, making this an ideal site for residential or mixed-use development in a growing downtown market.
Property Facts
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.37 AC |
| Property Type | Land | No. Stories | 2 |
| Property Subtype | Commercial | ||
| Zoning | Downtown Commercial | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.37 AC |
| No. Stories | 2 |
| Zoning | Downtown Commercial |
1 Lot Available
Lot
| Price | $850,000 | Lot Size | 0.37 AC |
| Price Per AC | $2,278,521.05 |
| Price | $850,000 |
| Price Per AC | $2,278,521.05 |
| Lot Size | 0.37 AC |
16,250 SF corner lot in the heart of Downtown Tacoma
Description
Zoned Downtown Commerical (DR) allowing high-rise development up to 90 feet
Property Taxes
| Parcel Number | 200612-0010 | Improvements Assessment | $1,000 |
| Land Assessment | $1,804,900 | Total Assessment | $1,805,900 |
Property Taxes
Parcel Number
200612-0010
Land Assessment
$1,804,900
Improvements Assessment
$1,000
Total Assessment
$1,805,900
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