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1 Tacoma Ave N, Tacoma, WA 98403
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Property summary
AI-generated overview
The property is a multi-suite office building offering at least two available suites: Suite 200 with 2,747 square feet and Suite 300 with 5,212 square feet, for a combined total of 7,959 square feet. The building is secured and includes on-site secured parking. The location is near downtown Tacoma with immediate freeway access and nearby retail amenities within walking distance. The office suites provide views of Puget Sound and Mount Rainier.
Property profile
Verified
Property type
Other office properties
Use group
OFFICE (GENERAL)
Year built
2003
Construction
CONCRETE
Total area
15,729 SF
Lot
0.13 ac (5,688 SF)
Zoning code
NCX
APN
2030110040
UPID
US90-3331166
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Clinic
-
Law Firm
-
Pharmacy
-
Physician
-
Architect
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.78M
CAP Approach
CAP
$3.34M
Comparable Approach
Comparable
$4.83M
Blend (final)
Blend
$4.83M
Owner & transaction history
since 2022
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
NCX · Tacoma, WA
Zoning description
NCX: Neighborhood Commercial Mixed-Use District The NCX District provides areas with day-to-day convenience shopping and services at a level that is compatible with the surrounding neighborhood. The distric t is intended…
General category
MIXED_USE
Top alternative use upside
Neighborhood: shopping center
$6.7M
+37.6%
Restaurant
$6.2M
+27.0%
Auto repair, garage
$5.8M
+19.8%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.83M
Value range
$4.35M – $5.31M
±10% around blend
Estimated value / SF
$307 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
50
Income certainty
100
$4.35M
blend $4.83M
$5.31M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,729 SF
Lot area
0.13 ac
Year built
2003
Stories
3
APN
2030110040
Zoning
NCX
Assessed value
$4,656,300
Annual tax
$51,729
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.34M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.62M
@ 6.5% CAP return
$3.34M
@ 7% CAP return
$3.10M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$51,729
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.73M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
10.1 mi away · 11,040 SF
17.1 mi away · 11,484 SF
24.0 mi away · 11,984 SF
24.9 mi away · 16,076 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.83M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 284 sales
$308
0%
County 508 sales
$333
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $307/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+38%
vs current-use indication
Restaurant
Auto Repair, Garage
Commercial (general) · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
4.50%
Selected cap rate for this other office properties
Derived from the Tacoma market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.50%
9.0%
NOI (est.)
$45k *
Last sale · Aug 2022
$4.90M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$989k
Move the market yield to see immediate price impact.
Value / SF
$63
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.00%4.50%5.00%
$40k
$1.00M
$890k
$801k
$45k
$1.11M
$989k
$890k
$49k
$1.22M
$1.09M
$979k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$2.40M
7.4 mi · Oct 2025 · $160/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$51,729
Tax year 2024
Assessed value
$4,656,300
Assessed 2024
Previous assessed
$4,656,300
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$354,500
Assessed improvement
$4,301,800
Land market value
$354,500
Improvement market value
$4,301,800
Total market value
$4,656,300
Applied tax rate
5.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other office properties
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2003
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
3
Total area
15,729 SF
Lot
0.13 ac (5,688 SF)
Zoning code
NCX
APN
2030110040
UPID
US90-3331166
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NCX · Tacoma, WAZoning NCX · permitted uses
NCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
NCX: Neighborhood Commercial Mixed-Use District The NCX District provides areas with day-to-day convenience shopping and services at a level that is compatible with the surrounding neighborhood. The distric t is intended…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
3
Lot
0.13 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
NCX
MIXED_USE
Jurisdiction
Tacoma, WA
Recorded code
NCX
Official district
NCX
Official district profile
What the municipal code says about NCX
Zoning description
NCX: Neighborhood Commercial Mixed-Use District The NCX District provides areas with day-to-day convenience shopping and services at a level that is compatible with the surrounding neighborhood. The distric t is intended…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NCX in Tacoma, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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