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Property profile & analytics
OFF-MARKET
Estimated value
$9,265,000
Parking lots & garages
1114 Pacific Ave, Tacoma, WA 98402-4304
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1577089
Property summary
AI-generated overview
This exceptional 12,300 square foot executive office space, situated at 1114 Pacific Avenue in the heart of downtown Tacoma, Washington, presents a unique opportunity. Located on the ground floor, this Class B building boasts 50 feet of prime Pacific Avenue frontage between 11th and 12th Streets, ensuring high visibility and accessibility. Built in 1960, the 87,936 square foot building offers a multiple tenancy structure. Currently, 12,300 square feet are available for lease, ideal for a business seeking a prominent location with significant street presence. The property's location in Pierce County, with a 98402 zip code, provides easy access to major transportation routes and amenities. This space is perfect for a retail showroom, office, or shop, offering a blend of high visibility and functional space. The property's size and location make it an attractive option for businesses seeking a substantial footprint in a thriving downtown area. Don't miss this chance to secure a prime location in Tacoma's vibrant business district.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1931
Construction
CONCRETE
Total area
72,210 SF
Lot
0.23 ac (10,000 SF)
Zoning code
DCC
APN
2011040020
UPID
US90-1577089
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
$9.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.27M
Owner & transaction history
111x Pacific LLC · 4 yrs held
111x Pacific LLC
since 2021
Last sale
$8.8M
6 recorded transactions
Zoning & alternative use
DCC · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$9,765,000
ML approach
$9,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.27M
Range $8.34M – $10.19M · ±10% · vs last sale $8.80M (Dec 30 2021)
Last sale anchor
$8.80M
Dec 30 2021
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
$128 / 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
$41,124
Tax year 2024
Assessed value
$3,701,500
Assessed 2024
Previous assessed
$3,701,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,244,600
Assessed improvement
$2,456,900
Land market value
$1,244,600
Improvement market value
$2,456,900
Total market value
$3,701,500
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1931
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
8
Units
199
Total area
72,210 SF
Lot
0.23 ac (10,000 SF)
Zoning code
DCC
APN
2011040020
UPID
US90-1577089
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DCC · Tacoma, WA
Zoning DCC · permitted uses
DCC · 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.
Building & site characteristics
From public records
Year built
1931
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
8
Units
199
Lot
0.23 ac
Current owner
From public records · entity-resolved
111x Pacific LLC
Entity
Mailing address
2208 W 2ND AVE, SPOKANE, WA 99201-5417
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
$8,800,000
111x Pacific LLC
Steve LLC
Warranty Deed
$9,945,000 · Khre Sma Funding LLC
Nov 21, 2018
—
Steve LLC
—
Deed
related
$200,000 · Heritage Bank
Mar 15, 2007
$1,500,000
1114 Pac Ave Partners LLC
Shaub Properties INC
Warranty Deed
$3,523,224 · Heritage Bank
Mar 15, 2007
—
Steve LLC
Shaub Properties INC
Warranty Deed
—
—
—
Properties Shaub
—
Deed Of Trust
related
$706,165 · Seafirst Bank
—
—
Shaub Properties INC
—
Deed Of Trust
related
$329,579 · Bank Of America
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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