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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15413 1St Avenue Ct Tacoma, WA 98445

    • Warehouses
    • 9,600 SF
    • 2.85 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Nov 03, 2021
    $2,890,000
    Value Estimations
    $3,070,000
    Cap Rate Potential
    2.6%
    Warehouses
    Location Intelligence
    Property ID
    US90-1263531
    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

    • Medicine River Center / Medical Center
    • Logistics Resource Solutions / Consultant
    • PURE Property Management of Washington / Property Management Company / Real Estate Rental Agency
    • Spanaway Industrial Park / Business Park
    • Spoken Word Church - Tacoma / Non-Denominational Church

    Property Details for 15413 1St Avenue Ct

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    2.85 lot acres
    Property size
    9,600 SF
    Zone code
    CMUD
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    319214005
    APU
    319214005

    Description

    This Tacoma, Washington industrial park, located at 15413 1st Ave Ct S, 98445, offers a diverse range of spaces ideal for various business needs. The property comprises five buildings totaling 29,200 square feet, situated in Pierce County. Available spaces range from 1,200 to 3,245 contiguous square feet, with a minimum divisible space of 1,200 square feet. The park currently has 3,245 square feet of vacant space. Building types include manufacturing, warehouse, flex, medical office, creative office, traditional office, and coworking spaces, catering to a wide array of businesses. The property features metal butler-style buildings with insulated, pitched roofs, high ceilings, and wide spans. Many warehouse suites include existing office build-outs. Renovations were completed in 2021. The property offers ample amenities, including trailer parking, equipment storage, and storage for vehicle fleets. Tenants are responsible for their own garbage, internet, and phone services. This prime location, conveniently situated off Pacific Avenue South, provides easy access to major transportation routes, making it an excellent choice for businesses requiring office, warehouse, storage, or light manufacturing space. The property is currently accepting serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,205,000
      ML approach
      $3,295,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,875,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $5,020,000
      Change: +74% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,070,000
      Change: +42% Conversion: Moderate
      RESTAURANT
      $3,760,000
      Change: +31% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,545,000
      Change: +23% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,960,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $2,900,000
      Change: +1% Conversion: Moderate
      MEDICAL BUILDING
      $2,350,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.432
    Latitude
    47.1161
    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
    $45,879
    $1,369,600
    $2,247,200
    $3,616,800
    -
    $1,369,600
    $2,247,200
    $3,616,800

    Comparable in this City

    • Value Estimation
      $1,455,000
      14,400 SF

      11007 A S St

      MINI-WAREHOUSE, STORAGE • 14,400 SF
      11007 A S St, Tacoma, WA 98444-5729
      View Details
    • Value Estimation
      $830,000
      7,200 SF

      15411 1st Ave Ct S Ste A

      MINI-WAREHOUSE, STORAGE • 7,200 SF
      15411 1st Ave Ct S Ste A, Tacoma, WA 98444-6900
      View Details
    • Value Estimation
      $8,730,000
      66,700 SF

      2211 112th S St

      MINI-WAREHOUSE, STORAGE • 66,700 SF
      2211 112th S St, Tacoma, WA 98444-1545
      View Details
    • Value Estimation
      $1,265,000
      10,800 SF

      9601 Pacific Ave

      MINI-WAREHOUSE, STORAGE • 10,800 SF
      9601 Pacific Ave, Tacoma, WA 98444-6534
      View Details
    • Value Estimation
      $2,070,000
      3,840 SF

      2317 102nd S St

      MINI-WAREHOUSE, STORAGE • 3,840 SF
      2317 102nd S St, Tacoma, WA 98444-1634
      View Details
    • Value Estimation
      $6,645,000
      64,280 SF

      9201 Pacific Ave

      MINI-WAREHOUSE, STORAGE • 64,280 SF
      9201 Pacific Ave, Tacoma, WA 98444-6235
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,200 SF

      32,200 SF Three-Building Business Park

      32,200 SF business park with high visibility and great access.
      11302 Steele St South, Tacoma, WA 98444
      View Details
    • $1,050,000
      23,958 SF

      Secured Contractor Yard with Office

      Level, secured contractor yard with remodeled office and I-5 access.
      2605 96Th Street Ct S Tacoma, Tacoma, WA 98444
      View Details
    • $1,150,000
      2,880 SF

      Four-Unit Multifamily Investment Property

      Four-unit residential building with hardwood floors in high-density area.
      11108 Sheridan Ave S, Tacoma, WA 98444
      View Details
    • $2,000,000

      Turnkey Restaurant with Banquet Room

      Established restaurant with banquet room and ample parking in Tacoma.
      9002 Pacific Ave, Tacoma, WA 98444
      View Details
    • $560,000
      1,948 SF

      Parkland Duplex Near JBLM

      Duplex near Spanaway Loop Road, close to JBLM, shopping, freeways.
      13803 S 11Th St S, Tacoma, WA 98444
      View Details
    • $950,000
      2,160 SF

      High-Traffic Commercial Property For Sale

      Corner lot with income potential in a high-traffic location.
      2206 96Th St S, Tacoma, WA 98444
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      273,816 SF

      Tacoma Industrial Flex Space

      Modern warehouse/office space, flexible options.
      12005 Steele St, Tacoma, WA 98444
      View Details
    • $6 SF/Yr
      3,245 SF

      Tacoma Executive Office Suites

      Prime Tacoma location, multiple suites available.
      0 S & C St, Tacoma, WA 98444
      View Details
    • $28 SF/Yr
      2,107 SF

      Former Tanning Salon Retail Space

      Retail space suitable for medical or other businesses.
      208-212 Garfield St S, Tacoma, WA 98444
      View Details
    • $18 SF/Yr
      5,000 SF

      Downtown Tacoma Restaurant Space

      Renovated restaurant space in the heart of Tacoma.
      724 Pacific Ave, Tacoma, WA 98444
      View Details
    • $9,500 /Mo
      49,223 SF

      Tacoma Yard or Built-to-Suit

      49,223 SF yard or built-to-suit for lease.
      2200 112Th St E, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Undeveloped Corner Lot in Tacoma

      Undeveloped hard corner lot with access to Downtown Tacoma.
      Pacific Ave, Tacoma, WA 98444
      View Details
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    Tacoma, WA 98445
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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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