Financial
Distress signals
Property profile

615 Commerce St Tacoma, WA 98402

FOR SALE
Other office properties
Property ID
US90-0035892
7,896 SF 0.13 ac lot Built 1918
Last sale Jan 2012 · $650,000
Individually Owned Owner of record is an individual. 3-yr Hold Held for 3 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

A Class B office space located in downtown Tacoma with interior finishes and access to natural light. The space comprises approximately 2,400 square feet and is situated near a light rail stop, offering connectivity across the Puget Sound region. It is positioned across from McMenamins Elks Temple and adjacent to the Old City Hall project (scheduled to open in 2026), within a surrounding area that includes dining, museums, hotels, parks, and residential accommodations.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$17k
Tax billed · 2024
Assessed value$1.72M
Assessed land$683k
Assessed improvement$1.04M
Effective rate1.01%

Value estimate

· Sep 2026
$715k
$644k – $787k
AI approach$700k
NOI build-up
Gross scheduled income$81
Vacancy & credit loss−$16
Operating expenses−$16
NOI · 222.73% cap applied$49

Realmo valuation models over county records and 4 qualifying comparable sales.

Recently sold

What actually traded nearby?
$328/SF
ZIP average, outlier-cleaned · 53 recorded sales of this use type
Observed band · Q1–Q3$164 – $758
Qualifying comparables4

Cap rate analysis

How does the asset earn?
222.73%
$49 estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
DCC
This district is intended to focus high rise office buildings and hotels, street level shops, theaters, and various public services into ...
General categoryCOMMERCIAL
JurisdictionPIERCE

Location intelligence

Which uses thrive at this corner?
Best fit: Smoke and Vape Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Smoke and Vape Shop11.3
Auto Parts Store10.0
Furniture Store8.9

Location

615 Commerce St Tacoma, WA 98402
County assessor Recorded deeds · 11 transfers 4 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
720 Pacific, Tacoma, WA 98402-5208 $375,000 Aug 2024 5,000 SF
702 A, Tacoma, WA 98402 $2,311,330 Mar 2024 10,207 SF
945 Fawcett, Tacoma, WA 98402-5612 $1,415,000 Feb 2024 6,978 SF
1224 Tacoma S, Tacoma, WA 98402-2007 $2,555,000 Dec 2023 5,960 SF
1498 Pacific, Tacoma, WA 98402-4208 $6,900,000 Sep 2023 5,227 SF
715 Tacoma S, Tacoma, WA 98402-2206 $1,390,700 Jul 2023 6,832 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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