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Office

702 Broadway

702 Broadway, Tacoma, WA 98402

Listing Price: $1,995,000

Cap Rate
6.71%
Gross SF
15,213
Rentable SF
12,492
Price/Gross SF
$131.14
Lot Size
0.14 acres
Year Built
1914

Investment Overview

This premier office property is located at 702 Broadway in Downtown Tacoma. The exceptional
location of this asset offers businesses a prime opportunity to establish their presence in a vibrant and growing market. This building’s presence on the corner of 7th and Broadway provides unparalleled visibility and accessibility, making it an ideal choice for companies seeking a prestigious address.

Spanning across spacious and modern floor plans, 702 Broadway offers flexible office spaces that can be tailored to meet the unique needs of businesses of all sizes. The property’s proximity to key transportation hubs and major highways allows for seamless commuting and convenient access for clients and employees alike. With a rent roll comprised of 33 suites, this property provides tremendous rental upside to improve the current average rent of $21.00 / SF NNN to the submarket average of $28.02.

Investment Highlights

  • HIGH GROWTH SUBMARKET Tacoma is experiencing its long overdue growth revival with major infrastructure, transit, and core improvements well underway to support active multifamily and commercial dev.
  • LEASE CONVERSION OPPORTUNITY With most current leases opting for MTM options, there is a significant opportunity to adjust rates to market and implement long-term agreements.
  • EXCEPTIONAL TENANT MIX The building is a magnet for a variety of professional service tenants requiring physical space in a truly unique office environment.

Exclusively Listed By

Financing By

Office

702 Broadway

Listing Price: $1,995,000

Cap Rate
6.71%
Gross SF
15,213
Rentable SF
12,492
Price/Gross SF
$131.14
Lot Size
0.14 acres
Year Built
1914

Investment Highlights

  • HIGH GROWTH SUBMARKET Tacoma is experiencing its long overdue growth revival with major infrastructure, transit, and core improvements well underway to support active multifamily and commercial dev.
  • LEASE CONVERSION OPPORTUNITY With most current leases opting for MTM options, there is a significant opportunity to adjust rates to market and implement long-term agreements.
  • EXCEPTIONAL TENANT MIX The building is a magnet for a variety of professional service tenants requiring physical space in a truly unique office environment.

Investment Overview

This premier office property is located at 702 Broadway in Downtown Tacoma. The exceptional location of this asset offers businesses a prime opportunity to establish their presence in a vibrant and growing market. This building’s presence on the corner of 7th and Broadway provides unparalleled visibility and accessibility, making it an ideal choice for companies seeking a prestigious address. Spanning across spacious and modern floor plans, 702 Broadway offers flexible office spaces that can be tailored to meet the unique needs of businesses of all sizes. The property’s proximity to key transportation hubs and major highways allows for seamless commuting and convenient access for clients and employees alike. With a rent roll comprised of 33 suites, this property provides tremendous rental upside to improve the current average rent of $21.00 / SF NNN to the submarket average of $28.02.

Exclusively Listed By

Financing By

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