New search
Property profile & analytics
FOR SALE
Strip malls
11401 Steele St South, Tacoma, WA 98444
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0515334
For Sale
1 / 15
$3,539,000
11401 Steele St South, Tacoma, WA 98444
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,773 SF
Lot
1.53 ac (66,777 SF)
Zoning code
CE
APN
319075011
UPID
US90-0515334
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.84M
CAP Approach
CAP
$2.17M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.88M
Owner & transaction history
Steele Center LLC · 4 yrs held
Steele Center LLC
since 2022
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
CE · 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
$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
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±10% · vs last sale $2.90M (Feb 11 2022)
Last sale anchor
$2.90M
Feb 11 2022
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
$294 / 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
$31,056
Tax year 2024
Assessed value
$2,670,300
Assessed 2024
Previous assessed
$2,670,300
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,007,200
Assessed improvement
$1,663,100
Land market value
$1,007,200
Improvement market value
$1,663,100
Total market value
$2,670,300
Applied tax rate
450.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Units
6
Total area
9,773 SF
Lot
1.53 ac (66,777 SF)
Zoning code
CE
APN
319075011
UPID
US90-0515334
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CE · Tacoma, WA
Zoning CE · permitted uses
CE · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.1M
RESTAURANT
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
6
Lot
1.53 ac
Current owner
From public records · entity-resolved
Steele Center LLC
Entity
Mailing address
5920 188TH ST SW #100, LYNNWOOD, WA 98037-4334
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2022
$2,895,000
Steele Center LLC
Steven S Kang
Bargain And Sale Deed
$2,171,250 · Coastal Community Bank
May 5, 2017
—
Steven S Kang
—
Deed
related
$1,136,000 · Unibank
Apr 28, 2010
$1,350,000
Steven S Kang
Cathay Bank
Warranty Deed
$960,000 · Pacific International Bank
Feb 19, 2010
$1,500,000
Cathay Bk
Hillis Clark Martin & Peterson
Trustees Deed
related
—
Mar 14, 2007
$3,375,000
Kt Green LLC
Simon Of Johnson LLC
Warranty Deed
$1,800,000 · Unibank
—
—
Kt Green LLC
—
Deed Of Trust
related
$2,000,000 · Cathay Bank
—
—
Steven S Kang
—
Deed Of Trust
related
$100,000 · Unibank
—
—
Steven S Kang
—
Deed Of Trust
related
$100,000 · Unibank
—
—
Steven S Kang
—
Deed Of Trust
related
$1,171,600 · Unibank
—
—
Steven S Kang
—
Deed Of Trust
related
$1,136,000 · Unibank
—
—
Steven S Kang
—
Deed Of Trust
related
$250,000 · Pacific International 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
