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    5111 Marine View Dr Tacoma, WA 98422

    • Land
    • 26.94 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5111 Marine View Dr

    Lot size
    26.94 lot acres
    Property type
    Land

    Description

    This exceptional 26.94-acre property located at 5111 Marine View Dr, Tacoma, WA 98422, presents a remarkable development opportunity. Priced at $1,800,000, this expansive parcel offers breathtaking views of Commencement Bay and is situated within the Transition Overlay District of the City of Tacoma. Its prime location provides convenient access to major transportation routes, including SR-509, placing it within easy reach of Tyee Marina, Browns Point Marina, and the Corinthian Yacht Club. The serene setting, combined with proximity to urban amenities, creates an ideal balance for a variety of potential development projects. This unique investment opportunity allows for the creation of a project that capitalizes on the stunning Puget Sound views and the desirable location. The property's substantial size and zoning designation offer significant flexibility for future development plans. Serious inquiries are encouraged to explore the possibilities this exceptional waterfront land presents. The property's address is clearly identified as 5111 Marine View Drive, Tacoma, Washington.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.395
    Latitude
    47.2816

    Comparable in this City

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      0.55 Acres

      4520 Kennedy Rd

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    • Value Estimation
      $250,000
      5,112 SF

      4931st Wa-tau-ga NE Ave

      APARTMENT HOUSE (5+ UNITS) • 5,112 SF
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    • Value Estimation
      $145,000
      3,400 SF

      3213 49th NE Ave

      APARTMENT HOUSE (5+ UNITS) • 3,400 SF
      3213 49th NE Ave, Tacoma, WA 98422-2941
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    • Value Estimation
      $785,000
      5,112 SF

      4909 Wa Tau Ga NE Ave, Unit 4915

      APARTMENT HOUSE (5+ UNITS) • 5,112 SF
      4909 Wa Tau Ga NE Ave, Tacoma, WA 98422-1761
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    • Value Estimation
      $995,000
      10,500 SF

      4901 Fairwood NE Blvd

      APARTMENT HOUSE (100+ UNITS) • 10,500 SF
      4901 Fairwood NE Blvd, Tacoma, WA 98422-2118
      View Details
    • Value Estimation
      $540,000
      7,772 SF

      4901 Fairwood NE Blvd

      APARTMENT HOUSE (100+ UNITS) • 7,772 SF
      4901 Fairwood NE Blvd, Tacoma, WA 98422-2118
      View Details

    Similar Nearby for Sale

    • $950,000

      Land For Sale Tacoma

      Land available for sale in Tacoma, Washington.
      Marine View Dr, Tacoma, WA 98422
      View Details
    • $410,000

      Residential Land in Quiet Location

      Quarter acre lot suitable for building a substantial size home.
      619 Hi Ab La Pl, Tacoma, WA 98422
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    • $3,000,000
      8,890 SF

      Industrial Property Near Port Operations

      Income-generating industrial property near port with value-add potential.
      1941 Marine View Dr, Tacoma, WA 98422
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    • $235,000

      View Lot in NE Tacoma

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      2910 44Th Avenue Ct, Tacoma, WA 98422
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    • $399,950

      Residential Land Investment Opportunity

      Flat lot near transit, potential for up to 7 units.
      1514 Norpoint Way, Tacoma, WA 98422
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    • $449,995

      Large Lot in Browns Point

      Large lot ideal for luxury home or multi-plex development.
      905 Pierce Ln, Tacoma, WA 98422
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    Similar Nearby for Lease

    • Contact for pricing
      42,689 SF

      Tacoma Land Parcel For Rent

      Land parcel available for rent in Tacoma, Washington.
      38Th Ave E, Tacoma, WA 98422
      View Details
    • $0.77 SF/Yr
      129,000 SF

      Fife Warehouse Space Available

      129,000 square foot warehouse space for lease in Fife.
      6546 20Th St E, Fife, WA 98422
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    • $1.20 SF/Yr
      3,000 SF

      Tacoma Flex Space For Rent

      Flex space with easy freeway access, suitable for small businesses.
      12714 Pacific Hwy SW, Tacoma, WA 98422
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    • Contact for pricing
      2,088 SF

      Office Space in Tacoma, WA

      2,088 SF office space available for rent.
      10715 Pacific Hwy Southwest, Tacoma, WA 98422
      View Details
    • $28 SF/Yr
      19,599 SF

      Tacoma Office Space Available

      19599 square feet of office space for lease.
      820 A Street Ct, Tacoma, WA 98422
      View Details
    • Contact for pricing
      17,173 SF

      Fife Warehouse with Office Space

      17,173 SF warehouse with 2,100 SF office space for rent.
      6752 20Th St East, Fife, WA 98422
      View Details
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    5111 Marine View Dr
    Tacoma, WA 98422
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    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
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