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Property profile & analytics
FOR LEASE
Medical Office Space
1530 South Union Ave, Tacoma, WA 98405
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1458995
For Lease
$32 SF/Yr
1530 South Union Ave, Tacoma, WA 98405
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Property summary
AI-generated overview
This well-maintained, two-story Class B medical office building, located at 1530 S Union Ave in Tacoma, WA 98405, offers a fantastic leasing opportunity. The building, constructed in 1986 and renovated in 1995, boasts a total of 20,440 square feet, with 1,400 square feet currently available for lease. The property sits on a 1.47-acre lot and is zoned T. The building features ample parking with 4.5 spaces available. Ideal for medical or dental practices, this multi-tenant building provides a convenient and established location in Pierce County. The available space presents a chance to establish or expand a practice in a thriving area. The building's history of consistent occupancy speaks to its desirability and strong location. This is a rare opportunity to secure space in a well-established medical building with convenient access and ample parking. The 1,400 square feet of vacant space is ready for immediate occupancy. Don't miss this chance to secure your practice's future in this desirable Tacoma location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,460 SF
Lot
1.04 ac (45,390 SF)
Zoning code
T
APN
220014162
UPID
US90-1458995
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
-
Susan L. Judah, ND Alternative Medicine Practice
-
Sunrise Dental - Dr. Juli Chue-Gomez Dental Office
-
Chue-Gomez Julidang K DDS Dental Office
-
Allison M. Osborn, PsyD Medical Clinic Physician
-
Dr. Michael Jenkins-Guarnieri Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.04M
CAP Approach
CAP
$4.50M
Comparable Approach
Comparable
$4.61M
Blend (final)
Blend
$3.73M
Owner & transaction history
S Union M & D LLC · 6 yrs held
S Union M & D LLC
since 2020
Last sale
$3.7M
6 recorded transactions
Zoning & alternative use
T · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.2M
+23.4%
Warehouse, storage
$6.1M
+22.4%
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
$3,575,000
ML approach
$4,035,000
CAP Approach
CAP Return
Estimation
6%
$4,875,000
6.5%
$4,500,000
7%
$4,180,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,005,000
Current use
RETAIL STORES
$6,180,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,130,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,535,000
Change: -9% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,525,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.73M
Range $3.36M – $4.10M · ±10% · vs last sale $3.65M (May 15 2020)
Last sale anchor
$3.65M
May 15 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
$182 / 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
$45,373
Tax year 2024
Assessed value
$4,084,100
Assessed 2024
Previous assessed
$4,084,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,400,100
Assessed improvement
$2,684,000
Land market value
$1,400,100
Improvement market value
$2,684,000
Total market value
$4,084,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
8
Total area
20,460 SF
Lot
1.04 ac (45,390 SF)
Zoning code
T
APN
220014162
UPID
US90-1458995
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
T · Tacoma, WA
Zoning T · permitted uses
T · 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
MEDICAL BUILDING Current
Est. value
$5.0M
RETAIL STORES
Est. value
$6.2M
WAREHOUSE, STORAGE
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$4.5M
INDUSTRIAL (GENERAL)
Est. value
$4.5M
MEDICAL BUILDING Current
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
8
Lot
1.04 ac
Current owner
From public records · entity-resolved
S Union M & D LLC
Entity
Mailing address
PO BOX 2214, TACOMA, WA 98401-2214
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2020
—
S Union M & D LLC
First 1530 Associates LLC
Warranty Deed
related
—
Jul 2, 2019
—
First 1530 Associates LLC
—
Deed
related
$2,189,356 · Us Bk
Jan 22, 2015
$3,654,719
First 1530 Associates LLC
1530 South Union Associates LLC
Warranty Deed
—
Dec 15, 1998
$1,733,000
1530 South Union Associates
Union Avenue Joint Venture
Grant Deed
related
$1,300,000 · Wells Fargo Bank
—
—
First 1530 Associates LLC
—
Loan Modification
related
$2,189,356 · Us Bk
—
—
Philip J Frank
—
Deed Of Trust
related
$133,500 · Key Bank Of Washington
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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