Seattle Investor Acquires Historic One Pacific Building In Tacoma For $7M
621 Pacific Avenue Tacoma, Washington 98402, USA
$7,000,000
Building Size
—
Asset Type
Commercial
Closing
Aug 9, 2023
AI
The historic One Pacific Building in Tacoma, aged 133 years, has been acquired by a Seattle-based investor for $7 million. The commercial property, located at 621 Pacific Ave in Tacoma, WA, was sold by the owners through the assistance of Brian Leibsohn & RJ Vara from Marcus & Millichap
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $7,000,000
- Address: 621 Pacific Ave, Tacoma, WA
- Market: Tacoma, WA
- Brokers: Brian Leibsohn & RJ Vara - Marcus & Millichap
The Seattle-based investor successfully acquired the historic One Pacific Building in Tacoma for $7 million. This transaction was facilitated by Brian Leibsohn & RJ Vara, who represented the buyer in the deal. The acquisition of this 133-year-old commercial property presents a notable opportunity for the investor to add a unique asset to their portfolio in the Tacoma market.
Players
Upland Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93