1628 S Mildred St Tacoma, WA 98465
Property profile & analytics
1628 S Mildred St Tacoma, WA 98465
- Medical Office Space
- 34,800 SF
- 1.06 lot acres
Property ID
US90-1622824
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.
Location Intelligence
Current Use by Public Records
- Azle Attic Insulation Services / General Contractor / Renovation Specialist
- Silvia La Rosa, DDS / Dental Office
- Sound Surgical Arts / Dental Office
- Gessel Orthodontics / Dental Office
- Sound Oral & Maxillofacial / Dental Office
Property Details for 1628 S Mildred St
- Year built
- 1997
- Construction
- WOOD FRAME
- Lot size
- 1.06 lot acres
- Property size
- 34,800 SF
- Zone code
- CCX
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 220038013
- APU
- 220038013
Description
This exceptional investment opportunity presents James Center Plaza, a Class B medical office building located at 1628 S Mildred St, Tacoma, WA 98465, in the Fircrest neighborhood of Pierce County. The property encompasses 34,272 rentable square feet across one, two-story building constructed in 1997 and renovated in 2004. Currently boasting 93.4% occupancy, the building houses ten medical and dental tenants under NNN leases, offering a passive income stream. The property features 24 dedicated parking spaces, supplementing shared parking within the surrounding commercial district. The asking price is $9,325,000, representing a price per square foot of $272.09 and a price per unit of $932,500. The current NOI is $603,995, yielding a 6.48% cap rate, with a pro-forma NOI of $661,186 and a pro-forma cap rate of 7.09%. The 45,999 square foot lot offers a land value of $202.72 per square foot. The property is zoned CCX and benefits from a strong suburban demographic and recent residential development surge, further enhancing its long-term value. Rent bumps are included in the lease agreements. This value-add opportunity presents significant upside potential due to the current occupancy and potential for rental increases.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $6,745,000
- ML approach
- $6,815,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $8,290,000
- 6.5%
- $7,655,000
- 7%
- $7,105,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $7,530,000
Market price range: $4.71M - $12.1M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $8,515,000 Current use
- COMMERCIAL (GENERAL)
- $10,730,000 Change: +26% Conversion: Easy
- RETAIL STORES
- $10,510,000 Change: +23% Conversion: Difficult
- WAREHOUSE, STORAGE
- $10,425,000 Change: +22% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $7,695,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.528
- Latitude
- 47.2454
- 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
$76,046
$1,061,900
$5,783,800
$6,845,700
-
$1,061,900
$5,783,800
$6,845,700
