Multi-Family

Tacoma Development Site

1512 Tacoma Ave S, Tacoma, WA 98402

Listing Price: $570,000

Lot Size
0.15 acres
Price/Acre
$3,825,763
Land Type
Redevelopment
Buildable Square Feet
36,000

Investment Overview

The development site is located at approximately 1512 Tacoma Avenue South lies between the Tacoma neighborhoods of Hilltop and Downtown. It consists of a single tax parcel measuring approximately 6,500/SF. Currently the property is vacant land.
Current zoning would allow a structure up to 90 feet in height and the maximum floor area ratio (FAR) of 6.00 would allow up to 39,000 buildable square feet. There is no density limit or parking requirement for the property.
The site has a Walk Score of 86, Very Walkable. The nearest grocery store is Safeway, approximately a 3 minute drive from the property. Nearby schools include Seabury Middle School and Stadium High School. The University of Washingtons Tacoma Campus is located less than a quarter mile from the property. The property is also mere blocks from the heart of Downtown Tacoma. St Joseph Medical Center is also about a mile from the property along with the new Tacoma Link station expansion scheduled to open in 2021.
Eight properties totaling over 850 units have been built in the nearby vicinity since 2015. An additional four properties within the vicinity, totaling over 600 units, are currently proposed or in some stage of development. Due to all the new development in the area, this site offers a developer the opportunity to acquire a well located property in rapidly growing market of Tacoma.

Investment Highlights

  • Downtown Residential Zoning
  • Floor Area Ratio up to 6.00
  • Maximum Height of 90 Feet
  • No Parking Requirement
  • No Density Limit

Exclusively Listed By

  • Rich Day

    Senior Associate

    Email Rich

    License(s): WA: 110473

    Seattle

Multi-Family

Tacoma Development Site

Listing Price: $570,000

Lot Size
0.15 acres
Price/Acre
$3,825,763
Land Type
Redevelopment
Buildable Square Feet
36,000

Investment Highlights

  • Downtown Residential Zoning
  • Floor Area Ratio up to 6.00
  • Maximum Height of 90 Feet
  • No Parking Requirement
  • No Density Limit

Investment Overview

The development site is located at approximately 1512 Tacoma Avenue South lies between the Tacoma neighborhoods of Hilltop and Downtown. It consists of a single tax parcel measuring approximately 6,500/SF. Currently the property is vacant land.
Current zoning would allow a structure up to 90 feet in height and the maximum floor area ratio (FAR) of 6.00 would allow up to 39,000 buildable square feet. There is no density limit or parking requirement for the property.
The site has a Walk Score of 86, Very Walkable. The nearest grocery store is Safeway, approximately a 3 minute drive from the property. Nearby schools include Seabury Middle School and Stadium High School. The University of Washingtons Tacoma Campus is located less than a quarter mile from the property. The property is also mere blocks from the heart of Downtown Tacoma. St Joseph Medical Center is also about a mile from the property along with the new Tacoma Link station expansion scheduled to open in 2021.
Eight properties totaling over 850 units have been built in the nearby vicinity since 2015. An additional four properties within the vicinity, totaling over 600 units, are currently proposed or in some stage of development. Due to all the new development in the area, this site offers a developer the opportunity to acquire a well located property in rapidly growing market of Tacoma.

Exclusively Listed By

  • Rich Day

    Senior Associate

    Email Rich

    License(s): WA: 110473

    Seattle

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