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    Property profile & analytics

    1623 J St Tacoma, WA 98421-1602

    • Retail space
    • 19,610 SF
    • 2.50 lot acres
    OFF-MARKET
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0536755
    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

    • Geo Group Inc / Professional Services
    • Tacoma Northwest Detention Center / Detention Center / Prison
    • Stephanie Pfeiffer / Physician Assistant / Health Care Facility
    • FedEx Drop Box / Mailing Service

    Property Details for 1623 J St

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.50 lot acres
    Property size
    19,610 SF
    Zone code
    PMI
    Property type
    Retail space
    APN
    320044004
    APU
    320044004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $990,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.422
    Latitude
    47.2492
    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
    $814,512
    $2,307,400
    $71,025,400
    $73,332,800
    -
    $2,307,400
    $71,025,400
    $73,332,800

    Comparable in this City

    • Value Estimation
      $1,155,000
      2,400 SF

      1002 Milwaukee Way

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      1002 Milwaukee Way, Tacoma, WA 98421-3021
      View Details
    • Value Estimation
      $475,000
      6,366 SF

      2501 D St

      RETAIL STORES (PERSONAL SERVICES) • 6,366 SF
      2501 D St, Tacoma, WA 98421-1338
      View Details
    • Value Estimation
      $410,000
      5,000 SF

      324 26th St

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      324 26th St, Tacoma, WA 98421-1309
      View Details
    • Value Estimation
      $300,000
      684 SF

      2615 Portland Ave

      RETAIL STORES (PERSONAL SERVICES) • 684 SF
      2615 Portland Ave, Tacoma, WA 98421-2609
      View Details
    • Value Estimation
      $455,000
      2,300 SF

      1112 Puyallup Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,300 SF
      1112 Puyallup Ave, Tacoma, WA 98421-2120
      View Details
    • Value Estimation
      $1,105,000
      6,750 SF

      309 Puyallup Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,750 SF
      309 Puyallup Ave, Tacoma, WA 98421-1314
      View Details

    Similar Nearby for Sale

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      33,941 SF

      Restored Two-Story Retail Property

      Two-story retail property restored in 2015, near transportation and amenities.
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      Retail/warehouse space in downtown Tacoma with high visibility.
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    • $1,300,000
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      Tacoma Dome District Parking Lot

      Quarter-acre parking lot near I-705 in Tacoma Dome District.
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    • $2,200,000
      5,648 SF

      Multi-Tenant Building Near Tacoma Dome

      Stabilized, multi-tenant building and parking lot near Tacoma Dome.
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      5,648 SF

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      Multi-tenant building and parking lot near Tacoma Dome for sale.
      409-411 East 26Th St, Tacoma, WA 98421
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    Similar Nearby for Lease

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      4,240 SF

      Tacoma Showroom/Warehouse Near I-5

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      4 SF

      Industrial Land with Rail Spur

      Industrial land available for lease with rail access and container stacking.
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      Prime Office Space Available

      2,750 SF office space with I-5 visibility for lease.
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    • Contact for pricing
      225,972 SF

      Fife Warehouse Space Available

      225972 square foot warehouse space for rent in Fife.
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      Tacoma Warehouse with Loading Docks

      9,700± SF warehouse with 29 loading positions for lease.
      1955 Lincoln Ave, Tacoma, WA 98421
      View Details
    • Contact for pricing
      220,429 SF

      Tacoma Warehouse Space Available

      220,429 SF warehouse space for lease in Tacoma, WA.
      2608 Port Of Tacoma Rd, Tacoma, WA 98421
      View Details
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    1623 J St
    Tacoma, WA 98421-1602
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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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