Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1818 Un Ave Tacoma, WA 98405-1953

    • Commercial land
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1824108
    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

    • Erin M. Duffy, OTR / Occupational Therapist / Physical Therapist
    • Cascade Interventional Pain Center, Jay Iyengar M.D. / Pain Management Physician
    • Justin Emerson / Physical Therapist
    • Dr. Jaisimha K. Iyengar, MD / Pain Management Physician
    • Dr. Stephanie Giaquinto / Audiologist

    Property Details for 1818 Un Ave

    Year built
    2001
    Construction
    WOOD FRAME
    Lot size
    0.21 lot acres
    Zone code
    T
    Property type
    Commercial land
    APN
    9745000163
    APU
    9745000163

    Description

    This exceptional office property, located at 1818 S Union Ave in Tacoma, WA 98405, offers 5,339 square feet of versatile space, currently fully vacant and ready for immediate occupancy. The building is comprised of three individual suites, with a minimum divisible space of 1,589 square feet and a maximum contiguous space of 3,750 square feet, providing flexibility for various business needs. The property is ideally suited for executive office or medical office uses, catering to businesses seeking a prominent location in Pierce County. Ample parking is available for tenants and their clients. The building's location in Tacoma offers easy access to the city's vibrant urban core, rich cultural attractions, and stunning waterfront views. This presents a unique opportunity for businesses to establish a presence in a thriving community with a strong arts scene and natural beauty. The property's central location within Pierce County ensures convenient access to major transportation routes and a diverse workforce. With its flexible suite sizes and ample parking, this property is an excellent choice for businesses seeking a high-quality, well-located office space in Tacoma. The entire 5,339 square foot building is available for lease. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.484
    Latitude
    47.2435
    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
    $3,044
    $273,000
    $0.00
    $273,000
    -
    $273,000
    $0.00
    $273,000

    Comparable in this City

    • Value Estimation by Request
      4.27 Acres

      Trek E Dr

      VACANT COMMERCIAL LAND • 4.27 Acres
      Trek E Dr, Tacoma, WA 98405
      View Details
    • Value Estimation by Request
      0.07 Acres

      1214 Pne St

      VACANT COMMERCIAL LAND • 0.07 Acres
      1214 Pne St, Tacoma, WA 98405
      View Details
    • Value Estimation by Request
      0.07 Acres

      2402 Tyler St

      VACANT COMMERCIAL LAND • 0.07 Acres
      2402 Tyler St, Tacoma, WA 98405-1059
      View Details
    • Value Estimation by Request
      0.04 Acres

      2316 Yakima Ave

      VACANT COMMERCIAL LAND • 0.04 Acres
      2316 Yakima Ave, Tacoma, WA 98405-3849
      View Details
    • Value Estimation by Request
      0.34 Acres

      2343 Yakima Ave

      VACANT COMMERCIAL LAND • 0.34 Acres
      2343 Yakima Ave, Tacoma, WA 98405-3850
      View Details
    • Value Estimation by Request
      0.15 Acres

      1206 Yakima Ave

      VACANT COMMERCIAL LAND • 0.15 Acres
      1206 Yakima Ave, Tacoma, WA 98405-4448
      View Details

    Similar Nearby for Sale

    • $899,500

      Centrally Located Parking Lot

      Parking lot with development potential near courthouse, jail, and amenities.
      921 S I St, Tacoma, WA 98405
      View Details
    • $2,689,000
      19,024 SF

      High-Visibility Mixed-Use Development Opportunity

      Prime location with NCX zoning for diverse development possibilities.
      1016 10Th St, Tacoma, WA 98405
      View Details
    • $35,000

      Downtown Residential Land Opportunity

      Small, fenced lot in Downtown Residential District with growth potential.
      2531 S G St, Tacoma, WA 98405
      View Details
    • $2,200,000

      Prime Land Parcel in Tacoma

      1.97-acre commercial land with high visibility and mixed-use zoning.
      3102 23Rd St, Tacoma, WA 98405
      View Details
    • $800,000

      Development Site with Highway Access

      Small development site with excellent highway access in Tacoma, Washington.
      1510-1516 S Union Ave, Tacoma, WA 98405
      View Details
    • $1,150,000
      64,033 SF

      Vacant Land Near Future Rail

      Land zoned for office or townhouses near future light rail.
      4020 19Th St, Tacoma, WA 98405
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      280 SF

      Office Space Available For Rent

      Office unit available for rent, can be combined with Suite 207.
      2201 S 19Th St, Tacoma, WA 98405
      View Details
    • $24 SF/Yr
      1,550 SF

      Retail Space Available For Lease

      1550 SF retail space available for lease.
      1201 S Union Ave, Tacoma, WA 98405
      View Details
    • $19 SF/Yr
      2,928 SF

      Office Space with Basement

      Office space for rent with convenient parking and elevator.
      2013 S 19Th St, Tacoma, WA 98405
      View Details
    • Contact for pricing
      3,895 SF

      Class A Medical Office Space

      State-of-the-art medical office near Allenmore Community Hospital.
      2202 S Cedar St, Tacoma, WA 98405
      View Details
    • $32 SF/Yr
      20,440 SF

      Union Avenue Medical Office Space

      Prime Tacoma medical building, 1,400 sq ft available.
      1530 Union Ave, Tacoma, WA 98405
      View Details
    • Contact for pricing
      6,649 SF

      Allenmore Medical Center Space Available

      Tacoma Medical Office Suites - Fully Vacant
      1901 Union Ave, Tacoma, WA 98405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1818 Un Ave
    Tacoma, WA 98405-1953
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.