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    1614 S Mildred St Tacoma, WA 98465
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    Property profile & analytics

    1614 S Mildred St Tacoma, WA 98465

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    • Office Spaces
    • 28,105 SF
    • 3.12 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Retail/Office Space Near College For Lease
    $14 SF/Yr

    Retail/Office Space Near College

    Retail and office spaces with high traffic near Tacoma College.

    1614 S Mildred St, Tacoma, WA 98465
    View Listing
    Property ID
    US90-2719881
    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

    • YMCA Child Care / Charitable Organization / Social Service Agency
    • Wendy L. Huntington, MA / Marriage Or Relationship Counselor
    • Sylvan Learning of Tacoma / Tutoring Service
    • Allen Wellness Center / Medical Clinic
    • Lilac Learning Center - Tacoma / Special Education Facility

    Property Details for 1614 S Mildred St

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.12 lot acres
    Property size
    28,105 SF
    Property type
    Office Spaces
    APN
    220038022
    APU
    220038022

    Description

    James Center North, a multi-tenant commercial property in Pierce County, offers a unique investment opportunity. This Class B complex, totaling 53,500 square feet, comprises four buildings with sixteen suites across two stories, built in 1983 and renovated in 2001. Currently, 14,121 square feet of space is available for lease, with individual suites ranging from 1,875 to 7,864 square feet, ideal for a variety of retail and office uses. The property sits on a substantial 6.92-acre lot (301,321 square feet) and benefits from ample parking with 88 spaces. Its strategic location offers excellent visibility and accessibility, situated directly across from Tacoma Community College and adjacent to the Fred Meyer Center, ensuring high foot traffic and convenient access to Highway 16. The CCX zoning allows for diverse commercial uses. The property boasts good signage opportunities and benefits from a strong mix of retail and office co-tenancy. The four separate APNs are 0220038022, 0220038018, 0220038019, 0220038021, and 0220338020. This well-positioned property presents a compelling opportunity for businesses seeking a prominent location in a thriving Tacoma area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,820,000
      Market price range: $1.61M - $6.45M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.528
    Latitude
    47.2462
    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
    $3,121,800
    $851,000
    $3,972,800
    -
    $3,121,800
    $851,000
    $3,972,800

    Comparable in this City

    • Value Estimation
      $565,000
      3,226 SF

      1622 Mildred St

      MEDICAL BUILDING • 3,226 SF
      1622 Mildred St, Tacoma, WA 98465-1610
      View Details
    • Value Estimation
      $6,840,000
      34,800 SF

      1628 Mildred St

      MEDICAL BUILDING • 34,800 SF
      1628 Mildred St, Tacoma, WA 98465-1627
      View Details
    • Value Estimation
      $605,000
      3,664 SF

      5202 12th St, Unit 22948

      APARTMENT HOUSE (5+ UNITS) • 3,664 SF
      5202 12th St, Tacoma, WA 98465-2657
      View Details
    • Value Estimation
      $1,385,000
      8,444 SF

      1502 Orch St

      APARTMENT HOUSE (5+ UNITS) • 8,444 SF
      1502 Orch St, Tacoma, WA 98465-2431
      View Details
    • Value Estimation
      $1,525,000
      15,560 SF

      1122 Highland Ave

      APARTMENT HOUSE (5+ UNITS) • 15,560 SF
      1122 Highland Ave, Tacoma, WA 98465-2328
      View Details
    • Value Estimation by Request
      3,968 SF

      1109 Woodlawn St

      APARTMENT HOUSE (5+ UNITS) • 3,968 SF
      1109 Woodlawn St, Tacoma, WA 98465-2315
      View Details

    Similar Nearby for Lease

    • $2,743 /Mo
      2,438 SF

      Retail and Office Space Available

      Retail and office spaces for rent near Tacoma Community College.
      1610 Mildred St, Tacoma, WA 98465
      View Details
    • $14 SF/Yr
      1,901 SF

      Office Space Near Tacoma College

      Office space available near Tacoma Community College and transit center.
      1610-1636 S Mildred St, Tacoma, WA 98465
      View Details
    • Contact for pricing
      3,492 SF

      Office Space Available For Rent

      Office space available for lease, totaling 3492 square feet.
      1628 S Mildred St, Tacoma, WA 98465
      View Details
    • $14 SF/Yr

      Retail/Office Space Near College

      Retail and office spaces with high traffic near Tacoma College.
      1614 S Mildred St, Tacoma, WA 98465
      View Details
    • Contact for pricing
      16,750 SF

      Retail Pad Building with Drive-Thru

      Retail pad building with drive-thru, loading door, and parking.
      6901 S 19Th St, Tacoma, WA 98465
      View Details
    • Contact for pricing
      1,786 SF

      Retail Space Available For Rent

      Retail space available for lease in Tacoma, Washington.
      1763 S Jackson Ave, Tacoma, WA 98465
      View Details
    View Listing
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    Tacoma, WA 98465
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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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