Property profile

621 Pacific Ave Tacoma, WA 98402

FOR LEASE
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Property ID
US90-0019873
29,402 SF 0.4 ac Built 1888
Last sale Aug 2023·$7,000,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 3-yr Hold Held for 3 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Market Trends Soon

Property summary

AI-generated overview

The One Pacific building in downtown Tacoma is a historic structure originally built in 1889 as the Northern Pacific Railroad headquarters and later renovated in 1984 while preserving its Art Deco design. It is located in the north historic corridor of downtown Tacoma and is configured as an office building with available spaces of approximately 499 to 6,560 rentable square feet, generally featuring natural light, large hallways, and high ceilings; water and mountain views are available. The…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$46k
Tax billed · 2024
Assessed value$4.13M
Assessed land$1.54M
Assessed improvement$2.59M
Effective rate1.11%

Value estimate

· Nov 2026
$7.68M
$6.91M – $8.44M
AI approach$7.71M
CAP approach$6.24M
Submarket $/SF estimate$7.24M
NOI build-up
Gross scheduled income$306k
Vacancy & credit loss−$61k
Operating expenses−$61k
NOI · 705,323.08% cap applied$183k

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?
705,323.08%
$183k 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: Auto Parts Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Parts Store12.7
Smoke and Vape Shop11.3
Furniture Store9.1

Location

621 Pacific Ave Tacoma, WA 98402
County assessor Recorded deeds · 9 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
1111 Pacific, Tacoma, WA 98402 $4,162,414 Apr 2025 36,000 SF
1132 Broadway, Tacoma, WA 98402-3503 $2,700,000 Mar 2025 27,000 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
715 Tacoma S, Tacoma, WA 98402-2206 $1,390,700 Jul 2023 6,832 SF
615 Commerce, Tacoma, WA 98402-4605 $650,000 Jun 2023 7,896 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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Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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