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    Property profile & analytics

    15611 Pacific S Ave Tacoma, WA 98444-4609

    • Drive through restaurants
    • 2,382 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1444327
    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

    • Taco Bell / Mexican Restaurant / Restaurant

    Property Details for 15611 Pacific S Ave

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.55 lot acres
    Property size
    2,382 SF
    Zone code
    CMUD
    Property type
    Drive through restaurants
    APN
    319213021
    APU
    319213021

    Description

    Spanaway Village Shopping Center, located at 15611 Pacific Ave S, Tacoma, WA 98444, offers a prime retail investment opportunity. This 185,094 square foot center boasts 30 suites across 10 single-story buildings situated on a 998,439 square foot lot. Built in 1984 and renovated in 1990, the property features ample parking with 1109 spaces. The center is zoned C2PDD and has a total tax cost per square foot of $10.60. The property enjoys a high-traffic location on Pacific Avenue South, across from Lake Spanaway Golf Course, and is anchored by established businesses including LA Fitness, Tractor Supply, Wendy's, and a remodeled Safeway. One available space of 1,038 square feet is currently available. The property's cross street is 159th St. S, and its APN is 0319213020. This center is ideal for a variety of retail and restaurant uses, offering excellent visibility and access in the Spanaway submarket of Tacoma. The property's location provides convenient access for customers and employees. This is a rare opportunity to acquire a well-established retail center in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.434
    Latitude
    47.1155
    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
    $15,424
    $801,300
    $469,600
    $1,270,900
    -
    $801,300
    $469,600
    $1,270,900

    Comparable in this City

    • Value Estimation by Request
      2,438 SF

      15114 Pacific S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,438 SF
      15114 Pacific S Ave, Tacoma, WA 98444-4661
      View Details
    • Value Estimation
      $525,000
      3,181 SF

      15021 Pacific S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,181 SF
      15021 Pacific S Ave, Tacoma, WA 98444-4658
      View Details
    • Value Estimation by Request
      488 SF

      13521 Pacific S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 488 SF
      13521 Pacific S Ave, Tacoma, WA 98444-4741
      View Details
    • Value Estimation by Request
      1,477 SF

      8442 Pacific Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,477 SF
      8442 Pacific Ave, Tacoma, WA 98444-6467
      View Details
    • Value Estimation
      $1,575,000
      188 SF

      12161 Pacific S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 188 SF
      12161 Pacific S Ave, Tacoma, WA 98444-5124
      View Details
    • Value Estimation by Request
      1,608 SF

      9810 Pacific Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,608 SF
      9810 Pacific Ave, Tacoma, WA 98444-6539
      View Details

    Similar Nearby for Sale

    • $559,960

      Corner Parcel with Frontage

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    • $2,000,000

      Turnkey Restaurant with Banquet Room

      Established restaurant with banquet room and ample parking in Tacoma.
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    • $2,000,000

      Turnkey Restaurant with Banquet Room

      Established restaurant with banquet room and ample parking for sale.
      9002 Pacific Ave, Tacoma, WA 98444
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    • $1,900,000

      Turnkey Restaurant with Banquet Room

      Established restaurant with banquet room, nightclub potential, and ample parking.
      9002 Pacific Ave, Tacoma, WA 98444
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    • $1,349,950

      Commercial Land with High Traffic

      26,980 SF commercial land with high traffic frontage.
      14423 Pacific Ave, Tacoma, WA 98444
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    • $950,000
      2,160 SF

      High-Traffic Commercial Property For Sale

      Corner lot with income potential in a high-traffic location.
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    Similar Nearby for Lease

    • $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
    • $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
    • $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
    • $34 SF/Yr
      2,000 SF

      Remodeled Commercial Space on Pacific

      2,000 SF commercial space with offices and showroom.
      15005 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $20 SF/Yr
      1,071 SF

      Tacoma Office or Retail Space

      Open-concept space on Pacific Ave, ideal for diverse businesses.
      12202 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $22 SF/Yr
      1,250 SF

      Retail Space with QFC Anchor

      Retail space anchored by QFC with high traffic.
      11200 Pacific Ave S, Tacoma, WA 98444
      View Details
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    Tacoma, WA 98444-4609
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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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