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Property profile & analytics
OFF-MARKET
Estimated value
$9,495,000
Flex space
1840 Marine Vw Dr Tacoma, WA 98422-4106
Trust Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0605807
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1970
Construction
STEEL FRAME
Total area
49,280 SF
Lot
13.9 ac (605,484 SF)
Zoning code
PMI
APN
321361039
UPID
US90-0605807
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
-
Jesse Engineering Co Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.12M
Comparable Approach
Comparable
$9.98M
Blend (final)
Blend
$9.50M
Owner & transaction history
Centerpoint Properties Trust · 8 yrs held
Centerpoint Properties Trust
since 2018
7 recorded transactions
Zoning & alternative use
PMI · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.9M
+36.6%
Warehouse, storage
$14.8M
+35.5%
Medical building
$12.1M
+10.7%
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%
$8,795,000
6.5%
$8,115,000
7%
$7,540,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$10,895,000
Current use
RETAIL STORES
$14,880,000
Change: +37% · Conversion: Moderate
WAREHOUSE, STORAGE
$14,765,000
Change: +36% · Conversion: Easy
MEDICAL BUILDING
$12,060,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$9.50M
Range $8.55M – $10.44M · ±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
$193 / 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
$202,156
Tax year 2024
Assessed value
$18,199,700
Assessed 2024
Previous assessed
$18,199,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$12,609,000
Assessed improvement
$5,590,700
Land market value
$12,609,000
Improvement market value
$5,590,700
Total market value
$18,199,700
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
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1970
Construction
STEEL FRAME
Heating
SPACE
Cooling
CENTRAL
Buildings
8
Stories
1
Units
1
Total area
49,280 SF
Lot
13.9 ac (605,484 SF)
Zoning code
PMI
APN
321361039
UPID
US90-0605807
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PMI · Tacoma, WA
Zoning PMI · permitted uses
PMI · 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
INDUSTRIAL (GENERAL) Current
Est. value
$10.9M
RETAIL STORES
Est. value
$14.9M
WAREHOUSE, STORAGE
Est. value
$14.8M
MEDICAL BUILDING
Est. value
$12.1M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1970
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
8
Units
1
Lot
13.9 ac
Current owner
From public records · entity-resolved
Centerpoint Properties Trust
Trust
Mailing address
1808 SWIFT DR, OAK BROOK, IL 60523-1573
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2018
$16,700,000
Centerpoint Properties Trust
Jesse Investments LLC
Grant Deed
—
Jan 31, 2017
—
Jesse Investments LLC
—
Deed
related
$5,865,618 · Kitsap Bank
Jan 3, 2011
—
Jesse Investments LLC
—
Deed Of Trust
related
$11,088,000 · Us Bank NA
Jun 15, 2006
—
Jesse Investments LLC
Jesse Engineering
Quit Claim Deed
—
Feb 4, 2005
$11,000,000
Jesse Engineering Co
Platinum Industrial Holdings
Grant Deed
related
$14,064,000 · Us Bk
—
—
Jesse Investments LLC
—
Deed Of Trust
related
$5,865,618 · Kitsap Bk
—
—
Jesse Investments LLC
—
Loan Modification
related
$6,189,928 · Us Bk
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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