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Property profile & analytics
OFF-MARKET
Estimated value
$3,330,000
Auto shops
1217 38th St Tacoma, WA 98418-3918
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US90-0446536
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,381 SF
Lot
0.56 ac (24,375 SF)
Zoning code
C1
APN
8935016050
UPID
US90-0446536
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
-
AutoZone Auto Parts Auto Parts Store
-
Shopwitease Corporate Office Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.44M
Blend (final)
Blend
$3.33M
Owner & transaction history
38th Street Retail Ptrs LLC · 16 yrs held
38th Street Retail Ptrs LLC
since 2009
3 recorded transactions
Zoning & alternative use
C1 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.1M
+14.8%
Restaurant
$2.9M
+6.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,725,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,130,000
Change: +15% · Conversion: Difficult
RESTAURANT
$2,890,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,275,000
Change: -17% · Conversion: Moderate
RETAIL STORES
$2,230,000
Change: -18% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,210,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.33M
Range $3.00M – $3.66M · ±10%
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
$451 / 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
$11,600
Tax year 2024
Assessed value
$1,043,400
Assessed 2024
Previous assessed
$1,043,400
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$598,500
Assessed improvement
$444,900
Land market value
$598,500
Improvement market value
$444,900
Total market value
$1,043,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Total area
7,381 SF
Lot
0.56 ac (24,375 SF)
Zoning code
C1
APN
8935016050
UPID
US90-0446536
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Tacoma, WA
Zoning C1 · permitted uses
C1 · 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
AUTO REPAIR, GARAGE Current
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.1M
RESTAURANT
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.2M
AUTO REPAIR, GARAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2011
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
38th Street Retail Ptrs LLC
Entity
Mailing address
PO BOX 2198, MEMPHIS, TN 38101-2198
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2009
$225,000
38th Street Retail Ptrs LLC
Equilon Ents LLC
Grant Deed
—
Jan 8, 1991
$424,000
Texaco Refining & Marketing INC
Unknown
Grant Deed
—
—
—
38th Street Retail Ptrs LLC
—
Deed Of Trust
related
$250,000 · Northwest Commercial 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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