Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12005 Steele S St Tacoma, WA 98444-1300
    Back to Search
    Property profile & analytics

    12005 Steele S St, Tacoma, WA 98444-1300

    View on Map
    • Industrial land
    • 6.27 lot acres
    Off-Market
    Last Sale Nov 19, 2021
    $87,000,000
    Property ID
    US90-1927876
    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
    Location Intelligence

    Current Use by Public Records

    • Pepsico / Storage Facility
    • XBF3 Amazon Fulfillment / Warehouse & Storage
    • UNIS / Warehouse & Storage
    • CUBEWORK / Coworking & Hybrid Office

    Property Details for 12005 Steele S St

    Lot size
    6.27 lot acres
    Property type
    Industrial land
    APN
    5003220075
    APU
    5003220075

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2021 $1,633,708 Rlif Steele Street Spe LLC Ch Realty Ix Jv 1 Tacoma Gateway 2 Bargain And Sale Deed —
    Aug 17, 2020 — Ch Realty Ix Jv I Tacoma Gateway 2 Ilahie Tacoma LLC Special Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.462
    Latitude
    47.148
    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
    $44,796
    $3,288,500
    $0.00
    $3,288,500
    -
    $3,288,500
    $0.00
    $3,288,500

    Comparable in this City

    • Value Estimation
      $1,745,000
      0.50 Acres

      2102 109th S St

      INDUSTRIAL - VACANT LAND
      2102 109th S St, Tacoma, WA 98444-8717
      View Details
    • Value Estimation by Request
      0.46 Acres

      2024 112th S St

      INDUSTRIAL - VACANT LAND
      2024 112th S St, Tacoma, WA 98444-1537
      View Details
    • Value Estimation by Request
      0.44 Acres

      13006 Pacific S Ave

      INDUSTRIAL - VACANT LAND
      13006 Pacific S Ave, Tacoma, WA 98444-4858
      View Details
    • Value Estimation by Request
      0.03 Acres

      1402 108th S St

      INDUSTRIAL - VACANT LAND
      1402 108th S St, Tacoma, WA 98444-2612
      View Details
    • Value Estimation by Request
      0.21 Acres

      410 112th S St

      INDUSTRIAL - VACANT LAND
      410 112th S St, Tacoma, WA 98444-5718
      View Details
    • Value Estimation by Request
      0.09 Acres

      131st S St

      INDUSTRIAL - VACANT LAND
      131st S St, Tacoma, WA 98444
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      0.64 acre land available for sale.
      11207 B 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
      View Details
    • Contact for pricing

      Commercial Land with Redevelopment Potential

      Former restaurant site suitable for retail, office, or residential development.
      9825 Pacific Ave S Tacoma, Tacoma, WA 98444
      View Details
    • $850,000

      Tacoma Land For Sale

      Land available in Tacoma, Washington.
      2108 102Nd Street Ct South, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Corner Parcel with Frontage

      Excellent corner parcel with frontage on 112th Street.
      11207 B St, Tacoma, WA 98444
      View Details
    • $1,050,000
      23,958 SF

      Secured Contractor Yard with Office

      Level, secured contractor yard with remodeled office and I-5 access.
      2605 96Th St S, Tacoma, WA 98444
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Property on Spanaway Loop

      2.36 acre mixed-use property with office and garage.
      12160 Spanaway Loop Rd S, Tacoma, WA 98444
      View Details
    • $3,764 /Mo
      20,909 SF

      Gravel Yard with Highway Access

      Fenced and graveled contractors yard with easy highway access.
      9613 Sales Rd S, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Fenced Contractors Yard with Power

      Graveled yard with power, accessible to Hwy 512 and I-5.
      9613 Sales Rd S, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces in high-traffic location near university.
      S & C St S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      1,060 SF

      Remodeled Commercial Space on Pacific

      2,000 SF commercial space with offices and showroom.
      15005 Pacific Ave S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      2,107 SF

      Former Tanning Salon Retail Space

      Retail space suitable for medical or other businesses.
      208-212 Garfield St S, Tacoma, WA 98444
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12005 Steele S St
    Tacoma, WA 98444-1300
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12005 Steele S St, Tacoma, WA, 98444
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!