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$1,375,000
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Property Description
Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.
Full Property Details
Full Property Details for 601 N K St
General
- Sold For: $1,375,000
- Taxes: $4,268 (2023)
- Status: Closed
- Type: Retail
- Source: NWMLS
- MLS ID: 2180621
- Added to Site: 870 day(s) ago
Rental Information
- Complex Features: Signage Included
Interior
- Interior Features: Ceramic Tile, Laminate, Wall to Wall Carpet
- Flooring: Ceramic Tile, Laminate, Vinyl Plank, Carpet
Parking
- Uncovered Spaces: 8
Location
- Area: 21 - North Tacoma
- County: Pierce
- Subdivision: North Tacoma
- Driving Directions: GPS is accurate.
Heating & Cooling
- Heating Type: Baseboard
Utilities
- Sewer: Sewer Connected
- Water: Public
Structural Information
- Structure Type: Retail
- Exterior Const.: Wood
- Foundation: Poured Concrete
- Roof: Composition
- Year Built: 1905
- Property Condition: Average
Lot Features
- Lot Size (Acres): 0.1492
- Lot Size (Sq. Ft.): 6,500
- Lot Size Source: Public Record
- Topography: Level
- Zoning: Commercial
Financial Considerations
- Tax Amount: $4,268
- Tax Year: 2023
- Terms: Cash Out, Conventional
Disclosures and Reports
- Special Conditions: None
- Property ID: 203621-007-1
- Block: 3621
- Lot Number: 11 & 12
Listed by Kelsey Diller | City Closers Real Estate | (206) 915-6028
Sold by Non Member ZDefault | ZNonMember-Office-MLS
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Schools
Schools serving 601 N K St
School District:Tacoma Public Schools
| Name | Grades | Distance |
|---|---|---|
Lowell Elementary School, Tacoma, WA 810 Mr. Dahl DR, Tacoma, WA 98403 | PK-5 | 0.5 mi |
Hilltop Heritage Middle School 602 North Sprague Avenue, Tacoma, WA 98403 | 6-8 | 0.5 mi |
Stadium High School 111 North E Street, Tacoma, WA 98403 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 601 N K St
Date
Details
Price
Change
Source
5/13/2024
Sold
$1,375,000
-3.51%
MLS
11/16/2023
Listed
$1,425,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
601 N K Street, Tacoma, WA 98403 (MLS# 2180621) is a Retail property that was sold at $1,375,000 on May 13, 2024. Want to learn more about 601 N K Street? Do you have questions about finding other Retail real estate for sale in North End? You can browse all North End real estate or contact a Coldwell Banker agent to request more information.

