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

    15615 Pacific S Ave Tacoma, WA 98444-4609

    • Retail space
    • 34,286 SF
    • 3.31 lot acres
    OFF-MARKET
    Value Estimations
    $6,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1107335
    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

    • Tractor Supply Co. / Animal Feed Store / Farm Shop
    • KeyExpress Locksmiths / Key Duplication Service / Locksmith

    Property Details for 15615 Pacific S Ave

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.31 lot acres
    Property size
    34,286 SF
    Zone code
    CMUD
    Property type
    Retail space
    APN
    319213020
    APU
    319213020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,875,000
      6.5%
      $6,345,000
      7%
      $5,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,116,000
      Market price range: $5.23M - $16.1M
      AI Estimate
      $4,216,000
      Market price range: $2.42M - $9.68M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $10,355,000
      Current use
      WAREHOUSE, STORAGE
      $10,275,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $8,390,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.433
    Latitude
    47.1153
    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
    $65,010
    $1,498,000
    $3,167,700
    $4,665,700
    -
    $1,498,000
    $3,167,700
    $4,665,700

    Comparable in this City

    • Value Estimation
      $5,080,000
      46,166 SF

      13322 Pacific S Ave

      RETAIL STORES (PERSONAL SERVICES) • 46,166 SF
      13322 Pacific S Ave, Tacoma, WA 98444-4864
      View Details
    • Value Estimation
      $1,660,000
      8,165 SF

      1223rd Pacific S Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,165 SF
      1223rd Pacific S Ave, Tacoma, WA 98444
      View Details
    • Value Estimation
      $1,075,000
      5,280 SF

      1908 96th S St

      RETAIL STORES (PERSONAL SERVICES) • 5,280 SF
      1908 96th S St, Tacoma, WA 98444-2808
      View Details
    • Value Estimation
      $1,820,000
      14,908 SF

      1902 96th S St

      RETAIL STORES (PERSONAL SERVICES) • 14,908 SF
      1902 96th S St, Tacoma, WA 98444-2808
      View Details
    • Value Estimation by Request
      2,352 SF

      11214 Pacific S Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,352 SF
      11214 Pacific S Ave, Tacoma, WA 98444-5526
      View Details
    • Value Estimation
      $6,880,000
      39,893 SF

      9820 Pacific Ave

      RETAIL STORES (PERSONAL SERVICES) • 39,893 SF
      9820 Pacific Ave, Tacoma, WA 98444-6539
      View Details

    Similar Nearby for Sale

    • $3,950,000
      1,200 SF

      Retail Property in Tacoma, WA

      Retail space available for sale in Tacoma, Washington.
      11401 Steele St S, Tacoma, WA 98444
      View Details
    • New
      $1,849,000
      0.52 Acres

      Mixed-Use Multifamily Investment Opportunity

      Value-add mixed-use multifamily property with income and long-term flexibility.
      9618 Pacific Ave, Tacoma, WA 98444
      View Details
    • $875,000

      Retail Property in Parkland, WA

      Retail property with shop on a large lot for sale.
      13601 Pacific 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
    • $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
    • $559,960

      Corner Parcel with Frontage

      Excellent corner parcel with frontage on 112th Street.
      11207 B St, Tacoma, WA 98444
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,685 SF

      Retail Space in High-Traffic Area

      End-cap unit suitable for retail or professional office use.
      13022 Pacific Ave 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
    • $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
    • $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
    • $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

    Property Visit Statistics

    • Visits by month
      20.3k
    • Visitors by month
      16.1k
    • Avg Time on site
      16 min
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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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