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28,460 SF Office Building At 1142 Broadway Tacoma Sold For $2.7M By Lee & Associates
SOLD
$2,700,000
Washington
See Similar DealsOffice28,460 SF
Sold 07/10/2025
SOLD
28,460 SF Office Building At 1142 Broadway Tacoma Sold For $2.7M By Lee & Associates
1142 Broadway
See Similar DealsOffice28,460 SF
Sold 07/10/2025
Summary
WASHINGTON
Asset Type:Office
Price Per Square Foot:$94
Total Square Footage:28,460 SF
Transaction Type:Sale
A 28,460 square foot office building located at 1142 Broadway in Tacoma, WA has been sold for $2,700,000. This transaction occurred off-market and represents a price point that is notably 30% below the assessed value of the property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,700,000
- Square Footage: 28,460
- Address: 1142 Broadway
- Market: Tacoma, WA
- Price Per Square Foot: $95
The transaction was facilitated by the brokerage team of Harrison Laird and John Bauder from Lee & Associates, marking a significant milestone as the city’s first office deal exceeding $2 million within the year. This transaction reflects a continued caution among buyers amid rising vacancy concerns in the market.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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