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    Property profile & analytics

    1501 Dock St Tacoma, WA 98402-3209

    • Retail space
    • 7,817 SF
    • 1.99 lot acres
    OFF-MARKET
    Value Estimations
    $2,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0603358
    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.

    Current Use by Public Records

    • Smith Alling PS / Law Firm
    • Chad E. Ahrens @ Zehnder Ahrens LLP / Law Firm
    • Thomas P. Quinlan / Law Firm / Financial Advisor
    • Tacoma Elder Care / Law Firm
    • Robert L. Michaels / Law Firm

    Property Details for 1501 Dock St

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.99 lot acres
    Property size
    7,817 SF
    Zone code
    S8
    Property type
    Retail space
    APN
    9008970030
    APU
    9008970030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,570,000
      6.5%
      $1,445,000
      7%
      $1,345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,030,000
      Market price range: $529k - $2.23M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,610,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,315,000
      Change: +27% Conversion: Moderate
      RESTAURANT
      $3,060,000
      Change: +17% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,885,000
      Change: +11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,565,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.434
    Latitude
    47.2492
    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
    $24,230
    $166,000
    $2,014,400
    $2,180,400
    -
    $166,000
    $2,014,400
    $2,180,400

    Comparable in this City

    • Value Estimation
      $11,540,000
      42,042 SF

      215 Whitesell NW St

      RETAIL STORES (PERSONAL SERVICES) • 42,042 SF
      215 Whitesell NW St, Tacoma, WA 98402
      View Details
    • Value Estimation
      $2,925,000
      12,000 SF

      1114 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 12,000 SF
      1114 Broadway, Tacoma, WA 98402-3503
      View Details
    • Value Estimation
      $1,070,000
      7,500 SF

      1902 Tacoma S Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,500 SF
      1902 Tacoma S Ave, Tacoma, WA 98402-1610
      View Details
    • Value Estimation by Request
      2,133 SF

      1101 A St Ste, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 2,133 SF
      1101 A St Ste, Tacoma, WA 98402-5093
      View Details
    • Value Estimation
      $635,000
      3,830 SF

      700 Ct A A

      RETAIL STORES (PERSONAL SERVICES) • 3,830 SF
      700 Ct A A, Tacoma, WA 98402-5206
      View Details
    • Value Estimation by Request
      68 SF

      2115 Dock St

      RETAIL STORES (PERSONAL SERVICES) • 68 SF
      2115 Dock St, Tacoma, WA 98402
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Freestanding Building with Retail/Office

      9,000 SF building with retail, office, and warehouse space.
      2366 Tacoma Ave S, Tacoma, WA 98402
      View Details
    • $1,650,000

      Brewery District Mixed-Use Development

      Mixed-use development with office, retail, and residential components.
      2122 Commerce St, Tacoma, WA 98402
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      Tacoma Retail Property For Sale

      Retail property on St Helens Ave, Tacoma, with great access.
      414 St Helens Ave, Tacoma, WA 98402
      View Details
    • $775,000

      Tacoma Retail Condo on Boardwalk

      Street-level retail condo near Thea Foss Waterway and museums.
      1515 Dock St, Tacoma, WA 98402
      View Details
    • $675,000

      Downtown Tacoma Office/Retail Space

      2,630 SF office/retail space in Tacoma's vibrant downtown.
      732 Broadway, Tacoma, WA 98402
      View Details
    • $1,650,000
      5,650 SF

      Brewery Blocks Retail/Office Space

      Street-level retail, restaurant, or office space with mezzanine.
      2102 Commerce St, Tacoma, WA 98402
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr

      Waterfront Mixed-Use Opportunity in Tacoma

      Office, retail, and restaurant spaces with views of Mt. Rainier.
      1701-1715 Dock St, Tacoma, WA 98402
      View Details
    • Contact for pricing
      2,168 SF

      Tacoma Retail Space Available

      Retail space available for rent in Tacoma, Washington.
      901-907 Pacific Ave, Tacoma, WA 98402
      View Details
    • $20 SF/Yr
      1,000 SF

      Downtown Tacoma Retail/Office Space

      Retail or office space in downtown Tacoma near light rail.
      913-919 Pacific Ave S, Tacoma, WA 98402
      View Details
    • Contact for pricing
      1,221 SF

      Tacoma Retail Space Available

      Retail space available for lease in Tacoma, Washington.
      1702-1936 Pacific Ave, Tacoma, WA 98402
      View Details
    • Contact for pricing
      350 SF

      Downtown Tacoma Retail Space Available

      Functional retail space in downtown Tacoma with ample parking.
      760-764 Broadway, Tacoma, WA 98402
      View Details
    • $22 SF/Yr
      1,209 SF

      Downtown Tacoma Mixed-Use Retail Space

      Retail space in mixed-use project with waterfront views.
      1705 Dock St, Tacoma, WA 98402
      View Details
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    Tacoma, WA 98402-3209
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    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
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