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    3201 South 43rd Street Tacoma, WA 98409
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    3201 South 43rd Street, Tacoma, WA 98409

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    • Opportunity zone commercial real estate
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Opportunity zone commercial real estate

    Property Details for 3201 South 43rd Street

    Property type
    Opportunity zone commercial real estate
    Property subtype
    Retail properties & Spaces

    Description

    *Fantastic Location- Central Tacoma *Zoning- URX District contains mainly medium density residential development such as townhouses, condos, and apartments. *2 separate buildings-Church and School. Church ±10,332sqf, School ±4,534sqf *Sanctuary Holds-250+ *Parking-70 parking spots along with some street parking Area Description Close to: I-5 4 miles (8 minutes) from the Sounder train station 1 mile from Tacoma Mall Shopping/Restaurants. 1 mile from Costco

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    State
    Washington
    Longitude
    -122.416
    Latitude
    47.2178

    Comparable in this City

    • Value Estimation by Request
      10,332 SF

      3201 43Rd St

      Churches & religious facilities
      3201 43Rd St, Tacoma, WA 98409
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    • Value Estimation by Request
      2,545 SF

      3514 56Th St

      Restaurants
      3514 56Th St, Tacoma, WA 98409
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    • Value Estimation by Request

      2501 38Th St

      Retail properties & Spaces
      2501 38Th St, Tacoma, WA 98409
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    • Value Estimation by Request
      783 SF

      3547 Alder St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      3547 Alder St, Tacoma, WA 98409-5710
      View Details
    • Value Estimation by Request
      0.23 Acres

      6716 Tacoma Way

      DEPARTMENT STORE
      6716 Tacoma Way, Tacoma, WA 98409-4027
      View Details
    • Value Estimation by Request
      2.37 Acres

      6445 Adams St

      DRY CLEANER
      6445 Adams St, Tacoma, WA 98409-2512
      View Details

    Similar Nearby for Sale

    • $4,500,000

      Central Tacoma Church and School

      Two buildings in central Tacoma: church and school for sale.
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      Immaculate Church and School Buildings

      Well-maintained church and school, move-in ready with functional layouts.
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      10,332 SF

      Central Tacoma Church and School

      Two buildings in central Tacoma: church and school.
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    • $4,500,000

      Central Tacoma Church and School

      Two buildings in central Tacoma: church and school.
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      1,896 SF

      Restaurant/Retail Property in Tacoma, WA

      Restaurant/Retail property available for sale in Tacoma, WA.
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      Tacoma Mall Area Restaurant Opportunity

      Restaurant near Tacoma Mall with strong operating history.
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    Similar Nearby for Lease

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      1,920 SF

      Retail Space Available For Rent

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      Accessible Tacoma Commercial Space

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      6,703 SF

      Retail Space in Tacoma Mall

      Retail property available for lease in Tacoma, Washington.
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      Versatile Commercial Space Near Tacoma Mall

      Office, retail, and industrial spaces with ample parking, convenient location.
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      Retail Space in Tacoma

      Retail property available for lease in Tacoma, Washington.
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      Tacoma Commercial Space For Rent

      Commercial space available for rent in Tacoma, Washington.
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    3201 South 43rd Street
    Tacoma, WA 98409
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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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    3201 South 43rd Street, Tacoma, WA, 98409
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