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    11401 Steele St South Tacoma, WA 98444

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    11401 Steele St South Tacoma, WA 98444

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    • Strip malls
    • 9,773 SF
    • 1.53 lot acres
    For Sale
    $3,539,000
    View Listing →
    Tacoma Retail Center For Sale For Sale
    $3,539,000
    9,424 SF

    Tacoma Retail Center For Sale

    9,424 SF retail center in Tacoma, WA for sale.

    11401 Steele Street South, Tacoma, WA 98444
    View Listing
    Property ID
    US90-0515334
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    4.9%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Blue Steele Coffee Company / Cafe & Coffee Shop
    • PSS Driving School / Training Center / Vocational School
    • Puget Sound Safety / Vocational School / Training Center
    • PSS Driving School - Tacoma / Training Center / Vocational School
    • Apple Teriyaki / Restaurant

    Property Details for 11401 Steele St South

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.53 lot acres
    Property size
    9,773 SF
    Zone code
    CE
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    319075011
    APU
    319075011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,865,000
      ML approach
      $2,840,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,350,000
      6.5%
      $2,170,000
      7%
      $2,015,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,145,000
      Current use
      RESTAURANT
      $3,825,000
      Change: -8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,610,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.467
    Latitude
    47.1528
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $31,056
    $1,007,200
    $1,663,100
    $2,670,300
    -
    $1,007,200
    $1,663,100
    $2,670,300

    Comparable in this City

    • Value Estimation
      $1,160,000
      6,600 SF

      8844 Pacific Ave

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      8844 Pacific Ave, Tacoma, WA 98444-6420
      View Details
    • Value Estimation
      $845,000
      5,700 SF

      10427 Pacific S Ave, Unit 10437

      SHOPPING CENTER, STRIP CENTER • 5,700 SF
      10427 Pacific S Ave, Tacoma, WA 98444-6033
      View Details
    • Value Estimation
      $950,000
      5,800 SF

      8711 Hosmer St

      SHOPPING CENTER, STRIP CENTER • 5,800 SF
      8711 Hosmer St, Tacoma, WA 98444-6886
      View Details
    • Value Estimation
      $1,585,000
      9,000 SF

      15709 Pacific S Ave

      SHOPPING CENTER, STRIP CENTER • 9,000 SF
      15709 Pacific S Ave, Tacoma, WA 98444-4675
      View Details
    • Value Estimation
      $1,025,000
      5,715 SF

      11916 Pacific S Ave

      SHOPPING CENTER, STRIP CENTER • 5,715 SF
      11916 Pacific S Ave, Tacoma, WA 98444
      View Details
    • Value Estimation
      $1,305,000
      10,000 SF

      13925 Pacific S Ave

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      13925 Pacific S Ave, Tacoma, WA 98444-4636
      View Details

    Similar Nearby for Sale

    • $3,539,000

      Tacoma Retail Center For Sale

      9,424 SF retail center in Tacoma, WA for sale.
      11401 Steele St South, Tacoma, WA 98444
      View Details
    • $2,250,000
      20,224 SF

      Parkland Commercial Building and Lot

      20,000 SF building with adjacent lot in Parkland.
      502-512 112Th St S, Tacoma, WA 98444
      View Details
    • $2,250,000
      20,224 SF

      Parkland Commercial Building and Lot

      20,000 SF building with adjacent vacant lot for sale.
      502 112Th St S, Tacoma, WA 98444
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    • Contact for pricing
      5,938 SF

      Income-Producing Office Complex For Sale

      Turn-key investment opportunity with stable cash flow and freeway connectivity.
      12202 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $1,300,000
      6,875 SF

      Retail Space Available For Sale

      Retail space with 6,875 SqFt available for purchase.
      14423 Pacific Ave S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      5,938 SF

      Tacoma Office or Retail Space

      Open-concept space on Pacific Ave, ideal for diverse businesses.
      12202 Pacific Ave S, Tacoma, WA 98444
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Hub in Spanaway, WA

      Commercial hub with diverse retail and service options for rent.
      14918 Pacific Ave S, Spanaway, WA 98444
      View Details
    • Contact for pricing
      7,004 SF

      Former Auto Parts Store Available

      Auto shop with parking, yard, and highway access.
      12615 Pacific Ave S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space with QFC Anchor

      Retail space anchored by QFC with high traffic.
      11200 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $3,100 /Mo
      1,550 SF

      End Cap Retail/Office Space

      End cap retail/office space in North Shops building.
      15617 Pacific Ave S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      2,685 SF

      Retail Space in High-Traffic Area

      End-cap unit suitable for retail or professional office use.
      13022 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $1,781 /Mo
      1,125 SF

      Retail/Office Space in High-Traffic Area

      1,125 SF retail or office space in Tacoma for rent.
      2015 96Th St S, Tacoma, WA 98444
      View Details
    View Listing
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    Tacoma, WA 98444
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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