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Property profile & analytics
OFF-MARKET
Estimated value
$10,420,000
Outlet malls
1015 Pearl St Tacoma, WA 98406-7921
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0860853
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
61,532 SF
Lot
5.27 ac (229,561 SF)
Zoning code
C2
APN
221358002
UPID
US90-0860853
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
McLendon Hardware Building Supply Hardware & Home Improvement
-
Blink Charging Station Electric Vehicle Charging Station
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Café Elite Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.39M
Comparable Approach
Comparable
$12.62M
Blend (final)
Blend
$10.42M
Owner & transaction history
Tacoma Mc Associates LLC · 6 yrs held
Tacoma Mc Associates LLC
since 2019
7 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,340,000
6.5%
$11,390,000
7%
$10,575,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$15,060,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$10.42M
Range $9.38M – $11.46M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$169 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$114,165
Tax year 2024
Assessed value
$10,277,600
Assessed 2024
Previous assessed
$10,277,600
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$4,584,100
Assessed improvement
$5,693,500
Land market value
$4,584,100
Improvement market value
$5,693,500
Total market value
$10,277,600
Applied tax rate
5.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Total area
61,532 SF
Lot
5.27 ac (229,561 SF)
Zoning code
C2
APN
221358002
UPID
US90-0860853
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Tacoma, WAZoning C2 · permitted uses
C2 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$15.1M
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
5.27 ac
Current owner
From public records · entity-resolved
Tacoma Mc Associates LLC
Entity
Mailing address
1015 N PEARL ST, TACOMA, WA 98406-7921
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2019
$6,496,089
Tacoma Mc Associates LLC
Cnr Tacoma Wa Landlord LLC
Bargain And Sale Deed
$3,768,000 · Sunflower Bank NA
Apr 10, 2017
$161,000
Central Ntwk Retail Group LLC
Mclendon Hardware INC
Quit Claim Deed
related
—
Apr 10, 2017
—
Tennessee Group LLC
Mclendon Hardware INC
Quit Claim Deed
related
—
Apr 10, 2017
$6,403,416
Cnr Tacoma Wa Landlord LLC
Tennessee Group LLC
Grant Deed
—
Apr 18, 2012
$5,064,000
Tennessee Group LLC
Saar Family LLC
Warranty Deed
$3,881,250 · Columbia State Bank
Jun 30, 1998
—
Saar Family LLC
—
Deed Of Trust
related
$2,802,000 · Modern Woodmen Of America
May 26, 1998
$1,900,000
Saar Family LLC
Iap Northwest INC
Grant Deed
—
Sep 25, 1997
$2,200,000
Lap Northwest INC
Yerba Buena Co USA Corp
Grant Deed
—
—
—
Saar Family LLC
—
Deed Of Trust
related
$2,000,000 · Whidbey Island Bank
—
—
Saar Family LLC
—
Deed Of Trust
related
$2,100,000 · Rainier Pacific Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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