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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
1822 Martin Luther King Jr Way Tacoma, WA 98405-3938
Individually Owned
25-yr Hold
~
Est. High Equity
Property ID
US90-1083229
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,400 SF
Lot
0.37 ac (16,250 SF)
Zoning code
C1
APN
2018220050
UPID
US90-1083229
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Dong H Cho · 25 yrs held
Dong H Cho
since 2000
7 recorded transactions
Zoning & alternative use
C1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,936
Tax year 2024
Assessed value
$713,500
Assessed 2024
Previous assessed
$713,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$504,500
Assessed improvement
$209,000
Land market value
$504,500
Improvement market value
$209,000
Total market value
$713,500
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
2,400 SF
Lot
0.37 ac (16,250 SF)
Zoning code
C1
APN
2018220050
UPID
US90-1083229
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Tacoma, WA
Zoning C1 · permitted uses
C1 · 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.
Building & site characteristics
From public records
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
Dong H Cho
Individual
Mailing address
825 SW 354TH ST, FEDERAL WAY, WA 98023-8124
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2000
$350,000
Dong H Cho
Yoon,ju U & Mi Y
Grant Deed
$308,641 · City Bank
Oct 7, 1992
$150,000
Ju Uk Yoon
Unknown
Grant Deed
$198,000
—
—
Ju-uk Yoon
—
Deed Of Trust
related
$103,843 · Key Bank Of Washington
—
—
Dong H Cho
—
Deed Of Trust
related
$184,515 · City Bank
—
—
Ju-uk Yoon
—
Deed Of Trust
related
$93,885 · Olympic Bank
—
—
Dong H Cho
—
Deed Of Trust
related
$485,000 · Washington First Int'l Bank
—
—
Ju-uk Yoon
—
Deed Of Trust
related
$104,111 · Washington State Bank
—
—
Ju-uk Yoon
—
Deed Of Trust
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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