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Property profile & analytics
OFF-MARKET
Estimated value
$2,445,000
Retail space
102 24th St Tacoma, WA 98402-2904
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-3126662
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1924
Construction
WOOD FRAME
Total area
8,775 SF
Lot
0.2 ac (8,775 SF)
Zoning code
WR
APN
2074140010
UPID
US90-3126662
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
$1.63M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.45M
Owner & transaction history
Arbutus House LLC · 2 yrs held
Arbutus House LLC
since 2024
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
WR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.7M
+27.1%
Restaurant
$3.4M
+17.3%
Auto repair, garage
$3.2M
+10.7%
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
$2,445,000
ML approach
$2,445,000
CAP Approach
CAP Return
Estimation
6%
$1,760,000
6.5%
$1,625,000
7%
$1,510,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,930,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,720,000
Change: +27% · Conversion: Moderate
RESTAURANT
$3,435,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,240,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,880,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$2.45M
Range $2.20M – $2.69M · ±10% · vs last sale $2.44M (Mar 13 2024)
Last sale anchor
$2.44M
Mar 13 2024
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
$279 / 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
$7,421
Tax year 2024
Assessed value
$667,100
Assessed 2024
Previous assessed
$667,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$582,300
Assessed improvement
$84,800
Land market value
$582,300
Improvement market value
$84,800
Total market value
$667,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1924
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Total area
8,775 SF
Lot
0.2 ac (8,775 SF)
Zoning code
WR
APN
2074140010
UPID
US90-3126662
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
WR · Tacoma, WA
Zoning WR · permitted uses
WR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
RESTAURANT
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.9M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1924
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Arbutus House LLC
Entity
Mailing address
109 25TH AVE S, SEATTLE, WA 98144-2311
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2024
$2,444,500
Arbutus House LLC
2413 Pacific Avenue Limited Partner
Warranty Deed
$1,711,150 · 2413 Pacific Avenue Limited Partner
Dec 22, 2010
$4,250,000
2413 Pacific Avenue LP
Coast Cranes LP
Warranty Deed
—
May 6, 2008
—
Cranes Coast
Foremost Block LLC
Grant Deed
—
Mar 6, 2008
$3,000,000
Foremost Block LLC
Cril Associates LLC
Grant Deed
$3,060,105 · Golden Rainbow Freedom Fund
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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