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Property profile & analytics
OFF-MARKET
Estimated value
$4,385,000
Office Spaces
1423 29th St 2 Tacoma, WA 98404-4008
Individually Owned
9-yr Hold
Free & Clear
Property ID
US90-0925735
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,185 SF
Lot
0.28 ac (12,041 SF)
Zoning code
CCX
APN
9009290020
UPID
US90-0925735
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
-
Icu Transportation Trucking Company
-
Permaculture Lifestyle Institute Association / Organization
-
Signature Safety Consultant
-
Lifestyle Valet Freight Service Logistics Company
-
Puyallup Tribal Police Department Police Department
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.01M
Comparable Approach
Comparable
$5.94M
Blend (final)
Blend
$4.39M
Owner & transaction history
Puyallup Tribe Of Indians · 9 yrs held
Puyallup Tribe Of Indians
since 2017
3 recorded transactions
Zoning & alternative use
CCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.0M
+37.6%
Restaurant
$5.6M
+27.0%
Auto repair, garage
$5.2M
+19.8%
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%
$3,265,000
6.5%
$3,010,000
7%
$2,795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,375,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,015,000
Change: +38% · Conversion: Difficult
RESTAURANT
$5,555,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,240,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$4,285,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$4,250,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$4.39M
Range $3.95M – $4.82M · ±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
$309 / 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
$10
Tax year 2024
Assessed value
$2,873,600
Assessed 2024
Previous assessed
$2,873,600
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$345,200
Assessed improvement
$2,528,400
Land market value
$345,200
Improvement market value
$2,528,400
Total market value
$2,873,600
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
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
4
Total area
14,185 SF
Lot
0.28 ac (12,041 SF)
Zoning code
CCX
APN
9009290020
UPID
US90-0925735
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CCX · Tacoma, WA
Zoning CCX · permitted uses
CCX · 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
COMMERCIAL (GENERAL) Current
Est. value
$4.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
RESTAURANT
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$5.2M
RETAIL STORES
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.3M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
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
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
4
Lot
0.28 ac
Current owner
From public records · entity-resolved
Puyallup Tribe Of Indians
Individual
Free & Clear · 9 yrs held
Mailing address
3009 E PORTLAND AVE, TACOMA, WA 98404-4926
Ownership since
2017
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
May 3, 2017
—
Puyallup Tribe Of Indians
Puyallup Tribe Of Indians
Quit Claim Deed
—
Oct 31, 2016
$6,200,000
Puyallup Tribe Of Indians
Tacoma-pierce City Small Busin
Warranty Deed
—
Jun 25, 2015
—
Tacoma-pierce County Small Bus
William M Factory Small Busine
Quit Claim Deed
related
—
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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