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    16002 Pacific Ave S Spanaway, WA 98387

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    16002 Pacific Ave S Spanaway, WA 98387

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    • Automotive properties
    • 4,489 SF
    • 0.46 lot acres
    For Sale
    $2,300,000
    View Listing →
    High-Traffic Automotive/Retail Opportunity For Sale
    $2,300,000
    0.46 Acres

    High-Traffic Automotive/Retail Opportunity

    Former auto showroom with service bays on Pacific Avenue.

    16002 Pacific Ave S, Spanaway, WA
    View Listing
    Property ID
    US90-1335182
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Automotive properties

    Property Details for 16002 Pacific Ave S

    Year built
    1978
    Construction
    WOOD FRAME
    Lot size
    0.46 lot acres
    Property size
    4,489 SF
    Zone code
    MUD
    Property type
    Automotive properties
    APN
    5025002590
    APU
    5025002590

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $717,000
      Market price range: $352k - $1.19M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spanaway
    County
    Pierce
    State
    Washington
    Longitude
    -122.435
    Latitude
    47.1115
    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
    $12,025
    $484,900
    $327,900
    $812,800
    -
    $484,900
    $327,900
    $812,800

    Comparable in this City

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    • Value Estimation by Request
      1,001 SF

      18501 Pacific Ave S93-149

      VEHICLE SALES, RENTALS • 1,001 SF
      18501 Pacific Ave S93-149, Spanaway, WA 98387-8396
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    • Value Estimation by Request
      1,906 SF

      16311 Pacific S Ave

      VEHICLE SALES, RENTALS • 1,906 SF
      16311 Pacific S Ave, Spanaway, WA 98387-8294
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    • Value Estimation by Request
      816 SF

      2120 91st Ave Wa-16

      VEHICLE SALES, RENTALS • 816 SF
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      1,000 SF

      2120 91st Ave We-5

      VEHICLE SALES, RENTALS • 1,000 SF
      2120 91st Ave We-5, Spanaway, WA 98387
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    • Value Estimation by Request
      0.38 Acres

      16822 Pacific S Ave

      AUTO REPAIR, GARAGE • 0.38 Acres
      16822 Pacific S Ave, Spanaway, WA 98387-8255
      View Details

    Similar Nearby for Sale

    • $2,300,000
      7,571 SF

      Spanaway Showroom and Service Garage

      7,571 SF building with showroom and service garage.
      16002 Pacific Ave S, Spanaway, WA 98387
      View Details
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      High-Traffic Automotive/Retail Opportunity

      Former auto showroom with service bays on Pacific Avenue.
      16002 Pacific Ave S, Spanaway, WA 98387
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    • Contact for pricing

      Former Bingo Hall with Parking

      4,200 SF building with rental house and parking.
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    • $508,600
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      Retail Space on Pacific Avenue

      Retail location with high exposure and ample parking.
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    • $950,000

      Spanaway Commercial Land For Sale

      Commercial land for sale, tenant occupied, UCOR zoning.
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      Spanaway Land Parcel For Sale

      Cleared, partially fenced land parcel in Spanaway, Washington.
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    Similar Nearby for Lease

    • Contact for pricing
      3,127 SF

      Retail Space Available For Lease

      Retail space available for lease in Spanaway, Washington.
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      Former C-Store Retail Space

      Available retail space, fuel and grocery use restricted.
      17519 Pacific Ave S, Spanaway, WA 98387
      View Details
    • $3,000 /Mo
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      Auto Sales Lot For Rent

      Auto sales lot with high traffic and office space.
      16822 Pacific Ave S, Spanaway, WA 98387
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      Spanaway Contractor Yard For Rent

      2 +/- acre contractor yard or parking in Spanaway.
      21621 Mountain Hwy E, Spanaway, WA 98387
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      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,204 to 2,234 SqFt.
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      View Details
    • Contact for pricing

      High-Exposure Retail Space in Spanaway

      Retail space with high visibility and ample parking.
      17415 Pacific Ave S, Spanaway, WA 98387
      View Details
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    Spanaway, WA 98387
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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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