2929 5th Ave Ne - Office FOR SALE


Puyallup, WA 98372- Downtown Puyallup
$2,800,000 USD
206-949-1334
2929 5th Ave Ne, Puyallup, WA for Sale
$2,800,000 USD
Office - FOR SALE
1/17
null | 7.44% Cap Rate

2929 5th Ave Ne
Puyallup, WA 98372
Downtown Puyallup


OVERVIEW

100% Leased Office / Healthcare Asset in a Top-Performing Tacoma Sub-market The Frame Team at Kidder Mathews, is pleased to present the opportunity to acquire a fully leased office and healthcare property located in one of Tacoma’s top-performing submarkets. Situated on a 1.36-acre parcel with 44 on-site parking stalls (a 5.4 stalls per 1,000 SF parking ratio), the asset offers strong fundamentals, stable income, and long-term flexibility for both investors and owner-users. The property is anchored by Kids at Play Therapy, a well-established healthcare operator that has occupied the building for nearly 15 years. The tenant is currently expanding its operations and further integrating a daycare component into the property. In conjunction with this expansion, Kids at Play Therapy has agreed to execute two new five-year leases, one for the therapy clinic and one for the daycare addition. Both commencing upon the closing of sale, providing immediate long-term income security from a growing tenant. The remaining ±1,736 square feet is leased to Movement Mortgage, which recently signed a one-year lease at $22.00/ SF NNN with no renewal options. This suite offers flexibility for future leasing or an owner-user opportunity and features strong visibility and a high-quality interior build-out, including five to six private offices, a large conference room, in-suite restrooms, and a dedicated break room. With 100% occupancy, long-term healthcare tenancy, and a high parking ratio that supports medical and educational uses, the property presents a low-risk investment with durable cash f low and built-in optionality. Strong sub-market fundamentals, tenant longevity, and a well-configured site position this asset as a compelling acquisition opportunity in the Tacoma market

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

7.44%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.36 AC

LAND SF

59,242 SF

ZONING

RB, Puyallup

APN/PARCEL ID

602225-0013

ASK ABOUT THIS PROPERTY

Ryan KershawKidder MathewsMore Info
206-949-1334

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Ryan KershawKidder MathewsMore Info
206-949-1334

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.