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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Industrial land
14721 Murray SW Rd Tacoma, WA 98439-1116
Individually Owned
Free & Clear
Property ID
US90-1140818
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1910
Construction
WOOD FRAME
Total area
8,188 SF
Lot
1.97 ac (85,944 SF)
Zoning code
PI
APN
219222002
UPID
US90-1140818
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
$988k
Blend (final)
Blend
$1.25M
Owner & transaction history
Aireit Lakewood Logistics Center II
Aireit Lakewood Logistics Center II
since 2025
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
PI · Tacoma, WA
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
$1,230,000
ML approach
$1,365,000
CAP Approach
CAP Return
Estimation
6%
$1,370,000
6.5%
$1,265,000
7%
$1,175,000
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.26M (Oct 1 2020)
Last sale anchor
$1.26M
Oct 1 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
$153 / 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
$13,939
Tax year 2024
Assessed value
$1,207,300
Assessed 2024
Previous assessed
$519,300
+132.5% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,207,300
Land market value
$1,207,300
Total market value
$1,207,300
Applied tax rate
760.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1910
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,188 SF
Lot
1.97 ac (85,944 SF)
Zoning code
PI
APN
219222002
UPID
US90-1140818
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PI · Tacoma, WAZoning PI · permitted uses
PI · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Ordinance Table
Building & site characteristics
From public records
Year built
1910
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Aireit Lakewood Logistics Center II
Individual
Free & Clear · 0 yrs held
Mailing address
2151 MICHELSON DR STE #282, IRVINE, CA 92612-1374
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Sep 2, 2025
—
Aireit Lakewood Logistics Center II
Airex Portfolio V LLC
Special Warranty Deed
—
Oct 1, 2020
—
Ipt Lakewood Logistics Ctr II
Ipt Lakewood Logistics Ctr III
Quit Claim Deed
related
—
Oct 2, 2019
$1,255,792
Ipt Lakewood Logistics Ctr III
Pk Sch District No 400 Clover
Quit Claim Deed
—
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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