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Property profile & analytics
OFF-MARKET
Estimated value
$1,460,000
Warehouses
11405 24th E Ave, Tacoma, WA 98445-5140
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0716419
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,368 SF
Lot
5.58 ac (243,195 SF)
Zoning code
CE
APN
319112043
UPID
US90-0716419
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
-
TE Walrath Trucking Inc. Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.46M
Owner & transaction history
Walrath Properties LLC · 5 yrs held
Walrath Properties LLC
since 2020
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
CE · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+41.5%
Restaurant
$2.1M
+30.7%
Auto repair, garage
$2.0M
+23.3%
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
$1,465,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,165,000
6.5%
$1,075,000
7%
$995,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,610,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,275,000
Change: +42% · Conversion: Moderate
RESTAURANT
$2,100,000
Change: +31% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,985,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,655,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$1,620,000
Change: +1% · Conversion: Moderate
MEDICAL BUILDING
$1,315,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.61M · ±10% · vs last sale $1.50M (Dec 4 2020)
Last sale anchor
$1.50M
Dec 4 2020
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
$272 / 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
$51,172
Tax year 2024
Assessed value
$3,752,600
Assessed 2024
Previous assessed
$3,752,600
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$1,469,500
Assessed improvement
$2,283,100
Land market value
$1,469,500
Improvement market value
$2,283,100
Total market value
$3,752,600
Applied tax rate
515.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Units
1
Total area
5,368 SF
Lot
5.58 ac (243,195 SF)
Zoning code
CE
APN
319112043
UPID
US90-0716419
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
WAREHOUSE, STORAGE Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Units
1
Lot
5.58 ac
Current owner
From public records · entity-resolved
Walrath Properties LLC
Entity
Mailing address
11405 24TH AVE E, TACOMA, WA 98445-5140
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2021
—
Wairath Properties LLC
—
Deed
related
$2,100,000 · Bank Of America NA
Dec 4, 2020
—
Walrath Properties LLC
Thomas E JR
Quit Claim Deed
related
—
Nov 26, 2002
$1,500,000
Tom Walrath
Oak Tree Associates Northwest
Grant Deed
$1,300,000 · Tom & Teri Walrath
Feb 1, 1995
$190,000
Oak Tree Associates Nw INC
Osaka,dick & Sumiko
Grant Deed
—
Apr 7, 1989
$400
Dick Osaka
Unknown
Grant Deed
related
—
—
—
Thomas Walrath JR.
—
Deed Of Trust
related
$1,392,500 · Bank Of America
—
—
Thomas E Walrath JR.
—
Deed Of Trust
related
$1,800,000 · Sterling Savings Bank
—
—
Oak Tree Associates Northwest
—
Deed Of Trust
related
$226,265 · Seafirst 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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