F.H. Horsfall Bldg. | 803-809 S 38th St
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F.H. Horsfall Bldg. 803-809 S 38th St
14,000 SF Retail Building Tacoma, WA 98418 £1,222,950 (£87/SF) 7.45% Net Initial Yield
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 | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£308,100
|
£22.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£15,404
|
£1.10
|
| Effective Gross Income |
£292,696
|
£20.91
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£107,835
|
£7.70
|
| Net Operating Income |
£184,861
|
£13.20
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £308,100 |
| Annual Per SF | £22.01 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £15,404 |
| Annual Per SF | £1.10 |
| Effective Gross Income | |
|---|---|
| Annual | £292,696 |
| Annual Per SF | £20.91 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £107,835 |
| Annual Per SF | £7.70 |
| Net Operating Income | |
|---|---|
| Annual | £184,861 |
| Annual Per SF | £13.20 |
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
£1,222,950
Price Per SF
£87
Net Initial Yield
7.45%
NOI
£91,110
Tenancy
Multiple
Number of Floors
2
Building FAR
1.07
Land Acres
0.30 AC
Zoning
NCX
Parking
14 Spaces
Frontage
130 ft on S 38th St
Amenities
- Bus Route
- Signage
Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 893501-5110 | Improvements Assessment | £211,881 |
| Land Assessment | £364,195 | Total Assessment | £576,075 |
PROPERTY TAXES
Parcel Number
893501-5110
Land Assessment
£364,195
Improvements Assessment
£211,881
Total Assessment
£576,075
-
Tammie Freeman -
Jonathan Smith -
Venture Real Estate Group
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F.H. Horsfall Bldg. | 803-809 S 38th St
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