Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2207 North Pearl St, Unit | Tacoma Tacoma, WA 98406

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Fully equipped restaurant/bar in Tacoma's North End for lease.

    Property size:
    6,720 SF
    Lot size:
    6,720 SF

    Property Features for 2207 North Pearl St

    General Information

    Size
    6,720 SF

    Building Details

    Year built
    2005

    We can help!

    Listing Contact
    John Bauder
    John Bauder
    Source: Lee-associates

    Listing Agency: Lee & Associates Commercial Real Estate Services – Pacific Northwest Listing Agent: John Bauder

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restaurant/Bar Space in Tacoma

    This is a fully equipped restaurant and bar located at the intersection of N 21st and Pearl Street in the North End of Tacoma. The property features a full kitchen equipped with a Type 1 hood, a grease interceptor, and a walk-in freezer. The location offers prominent signage and visibility, with over 27,000 cars passing by the intersection daily. The property is suitable for restaurants, retail, and bar businesses. The property size is 6,720 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Joeseppi's Italian Ristorante ... Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.5136741
    Latitude
    47.2677629

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Downtown Pacific Avenue

      Workspaces, services and support to help you work better in Miami Airport
      1201 Pacific Ave, Tacoma, WA 98402
      View Details
    • $30 SF/Yr
      1,946 SF

      Tacoma CBD Office Space Available

      Office space in Tacoma CBD with updated amenities and parking.
      950 Pacific Ave, Tacoma, WA 98402
      View Details
    • $23 SF/Yr
      12,000 SF

      Downtown Tacoma Building with Parking

      12,005 SF building available for lease in downtown Tacoma.
      2111 Pacific Ave, Tacoma, WA 98402
      View Details
    • $24 SF/Yr
      5,636 SF

      Pacific Avenue Retail Space Available

      Retail space available in the Annex Building on Pacific Avenue.
      1411-1423 Pacific Ave, Tacoma, WA 98402
      View Details
    • $3,900 /Mo
      29,238 SF

      Multi-Story Office Building For Rent

      Well-maintained office building in a desirable, walkable location.
      1142 Broadway, Tacoma, WA 98402
      View Details
    • $21 SF/Yr
      4,072 SF

      Class A Office Space Available

      4,072 SF Class A office space near Tacoma Mall.
      6050 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • $26 SF/Yr
      2,308 SF

      Modern Office Space in Tacoma

      High-end office space with excellent access and modern amenities.
      1132-1148 Broadway, Tacoma, WA 98402
      View Details
    • $16 SF/Yr
      1,604 SF

      Downtown Tacoma Retail/Office Space

      Retail or office space in downtown Tacoma near light rail.
      913-919 Pacific Ave S, Tacoma, WA 98402
      View Details
    • $28 SF/Yr
      676 SF

      Downtown Tacoma Office Space Available

      Office space for lease in downtown Tacoma Rhodes Center.
      950 Broadway, Tacoma, WA 98402
      View Details
    • $22 SF/Yr
      2,500 SF

      Downtown Tacoma Mixed-Use Retail Space

      Retail space in mixed-use project with waterfront views.
      1705 Dock St, Tacoma, WA 98402
      View Details
    • $15 SF/Yr
      5,180 SF

      Downtown Tacoma Office Space

      Modern office spaces in prime downtown location with city views.
      1140-1160 Broadway, Tacoma, WA 98402
      View Details
    • $24 SF/Yr
      2,747 SF

      Office Space with Puget Sound Views

      Office suites available near downtown Tacoma with secured parking.
      1 Tacoma Ave N, Tacoma, WA 98403
      View Details

    FAQs

    What type of property is this?
    Restaurant - Fully equipped restaurant/bar in Tacoma's North End for lease.
    Where is this restaurant located?
    The property is located at 2207 North Pearl St, Unit | Tacoma Tacoma, WA.
    What are key features of this property?
    This property features: - Fully equipped restaurant/bar ready for immediate operation.; - High-visibility location at N 21st & Pearl in Tacoma's North End.; - High traffic count: Over 27,000 cars per day at intersection.
    (253) 238-0043
    Request Owner's contact information
    2207 North Pearl St, Unit | Tacoma Tacoma, WA 98406
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2207 North Pearl St, Unit | Tacoma
    Tacoma, WA 98406
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2207 North Pearl St, Unit | Tacoma Tacoma, WA 98406
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Bauder
    John Bauder
    (253) 238-0043 (253) 820-5822 (253) 383-8382
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!