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F.H. Horsfall Bldg. 803-809 S 38th St

14,000 SF Retail Building Tacoma, WA 98418 $2,177,254 CAD ($156 CAD/SF) 7.45% Cap Rate

Executive Summary

Excellent and rare investment or owner user opportunity located in the heart of Tacoma's revitalized Lincoln District. Proforma CAP 7.45%. Potential redevelopment opportunity with multi-use zoning and multiple new development sites nearby within revitalized Lincoln District. The Horsfall mixed-use commercial building is comprised of a total of 13 units, three retail spaces and an attached warehouse on main level, on the second level, six studio apartments and three SEDUs with opportunity to change either the floorplan or unit mix during renovation. Great proforma income with second floor residential buildout and retail lease potential. Designated parking behind the building. Conveniently located minutes to Tacoma Mall, T-Mobile, 24 Hour Fitness, Safeway, Target & more. Perfect project investment in a growing and developing market in Tacoma. Contact LA with questions or to schedule a tour.

Financial Summary (Pro forma - 2024)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $547,818 $39.13
Other Income - -
Vacancy Loss $27,390 $1.96
Effective Gross Income $520,428 $37.17
Taxes - -
Operating Expenses - -
Total Expenses $191,736 $13.70
Net Operating Income $328,692 $23.48

Financial Summary (Pro forma - 2024)

Gross Rental Income (CAD)
Annual $547,818
Annual Per SF $39.13
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual $27,390
Annual Per SF $1.96
Effective Gross Income (CAD)
Annual $520,428
Annual Per SF $37.17
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $191,736
Annual Per SF $13.70
Net Operating Income (CAD)
Annual $328,692
Annual Per SF $23.48

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
14,000 SF
Building Class
C
Year Built
1916
Price
$2,177,254 CAD
Price Per SF
$156 CAD
Cap Rate
7.45%
NOI
$162,205 CAD
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.07
Land Acres
0.30 AC
Zoning
NCX
Parking
14 Spaces
Frontage
130 ft on S 38th St

Amenities

  • Bus Line
  • Signage
Walk Score ®
Very Walkable (83)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
893501-5110
Land Assessment
$648,350 CAD
Improvements Assessment
$377,196 CAD
Total Assessment
$1,025,547 CAD
  • Listing ID: 32583687

  • Date on Market: 2024-07-25

  • Last Updated:

  • Address: 803-809 S 38th St, Tacoma, WA 98418

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