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Property profile & analytics
FOR SALE
Office Spaces
1720 72Nd St Tacoma, WA 98408
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1507175
For Sale
$1,600,000
1720 72Nd St, Tacoma, WA 98408
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1984
Construction
WOOD FRAME
Total area
9,296 SF
Lot
0.38 ac (16,600 SF)
Zoning code
C2
APN
9345000523
UPID
US90-1507175
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Neuropathy Relief Center of Tacoma Medical Clinic
-
Kevin M. Lyter, DC Alternative Medicine Practice
-
Simmons Chiropractic Clinic Alternative Medicine Practice
-
Jeffrey B. Kahrs, DC Alternative Medicine Practice
-
The Back and Joint Pain Institute Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.98M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.81M
Owner & transaction history
72nd Street Investments · 2 yrs held
72nd Street Investments
since 2023
7 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,140,000
6.5%
$1,975,000
7%
$1,835,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,865,000
Current use
RETAIL STORES
$2,805,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$2,785,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$195 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$18,516
Tax year 2024
Assessed value
$1,666,000
Assessed 2024
Previous assessed
$1,666,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$479,100
Assessed improvement
$1,186,900
Land market value
$479,100
Improvement market value
$1,186,900
Total market value
$1,666,000
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Sale
Year built
1984
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Total area
9,296 SF
Lot
0.38 ac (16,600 SF)
Zoning code
C2
APN
9345000523
UPID
US90-1507175
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Tacoma, WA
Zoning C2 · permitted uses
C2 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.9M
RETAIL STORES
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
72nd Street Investments
Entity
Mailing address
1567 HIGHLANDS DR NE, ISSAQUAH, WA 98029-6245
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2023
—
72nd Street Investments
—
Deed
related
$150,000 · Heritage Southeast Bank
May 6, 2022
—
72nd Street Investments
—
Deed
related
$560,000 · Heritage Southeast Bank
Mar 24, 2017
—
72nd Street Investments
—
Deed
related
$615,000 · Keybank USA
—
—
72nd St. Investments
—
Deed Of Trust
related
$100,000 · Heritage Bank
—
—
72nd Street Investments
—
Deed Of Trust
related
$81,075 · Heritage Bank
—
—
72nd Street Investments
—
Deed Of Trust
related
$560,000 · Key Bank NA
—
—
72nd St. Investments
—
Deed Of Trust
related
$50,500 · Heritage Bank
—
—
72nd Street Investments
—
Deed Of Trust
related
$615,000 · Keybank USA
—
—
72nd Street Investments
—
Deed Of Trust
related
$450,000 · Us Bank NA
—
—
72nd Street Investments
—
Deed Of Trust
related
$447,000 · Heritage Bank
—
—
72nd Street Investments
—
Deed Of Trust
related
$371,738 · Heritage Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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