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    1023 Martin Luther King Jr Way Tacoma, WA 98405

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    For Lease
    $32 SF/Yr ($11,784 /Mo)

    Ground floor retail space in a 289-unit apartment development.

    Property size:
    4,419 SF
    Lot size:
    0.48 Acres

    Property Features for 1023 Martin Luther King Jr Way

    General Information

    Size
    4,419 SF
    Lot size
    0.48 Acres

    Source: First Western Properties - Tacoma, Inc. Agent Jameson Sullivan

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

    Overview

    Retail Space in Apartment Development

    This ground floor retail space is located within a 289-unit apartment development. The property offers 4419 square feet of space and features 21-foot ceiling heights. It includes on-site parking for retail customers. A shaft and grease trap have been installed, making it suitable for restaurant uses.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4513695
    Latitude
    47.2523572

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    FAQs

    What type of property is this?
    Retail space - Ground floor retail space in a 289-unit apartment development.
    Where is this retail space located?
    The property is located at 1023 Martin Luther King Jr Way Tacoma, WA.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: - Ground floor retail space under 289-unit apartment development.; - Shaft and grease trap installed, ideal for restaurant use.; - 21-foot ceiling heights create a spacious environment.
    (253) 471-5508
    Request Owner's contact information
    1023 Martin Luther King Jr Way Tacoma, WA 98405
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    Realmo Value Estimation

    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.

    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.

    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
    1023 Martin Luther King Jr Way Tacoma, WA 98405
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