1000 Town Center NE
Tacoma WA 98422
Browns Point Town Center
1000 Town Center NE Tacoma WA 98422
Listing #: 695437 | Status: Available | Last Modified: 4/10/2025 |
For Sale
- Phone:(206) 826-5787
- Email:brownretailgroup@marcusmillichap.com
- Office Name:Marcus & Millichap, Inc.
- Office Phone:(206) 826-5700
- Office Website:www.marcusmillichap.com
- Agent Phone:(206) 826-5700
- Agent Email:dylan.wolf@marcusmillichap.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 4,800,000.0
- $/SF$ 120.1
- Listing StatusAvailable
- Days on Market19
- Asset ClassRetail
- Terms
- Investment Type
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- AnchorAce Hardware
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- Building StatusExisting
- # of Buildings2
- # of Floors2
- # of Units13
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF39982
- Net Rentable Area39982
- Total Office SF
- Largest Contiguous SF20919
- Lot SF140178
- Acres3.22
- Property TypeRetail
- Office Type
- InvestmentYes
- Building Class
- CountyPierce
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaPort of Tacoma/Fife
- Tax ID #7575000031
- Additional Parcels
- ZoningNC
- Year Built1946
- Year Renovated2013
- Completion Date
- Roof Type
- Construction Type
Browns Point Town Center
We have been selected exclusively to market for sale Browns Point Town Center, a value-add grocery anchored retail center located in Browns Point, an affluent submarket of Tacoma, WA. The property is currently 77% occupied, with pending letters of intent (LOIs) expected to increase occupancy to 87%, offering stable in-place income and immediate upside potential through leasing the remaining vacant suites. In addition, the average base rent at the property is currently $11.16/SF, with over 62% of the GLA operating on month-to-month Modified Gross leases. Market rents are achievable in the $15-$18/SF NNN range. An investor has the opportunity to increase their return to nearly a 12% cap rate through leasing the remaining vacant suites, increasing rents to market, and converting Modified Gros
Exclusive Browns Point Town Center location.
