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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
1901 Martin Luther King Jr Way Tacoma, WA 98405-3835
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-3345021
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,497 SF
Lot
0.6 ac (26,000 SF)
Zoning code
C1
APN
2019210052
UPID
US90-3345021
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
Luke Corp · 18 yrs held
Luke Corp
since 2007
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
$15,939
Tax year 2024
Assessed value
$1,434,000
Assessed 2024
Previous assessed
$1,434,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$759,700
Assessed improvement
$674,300
Land market value
$759,700
Improvement market value
$674,300
Total market value
$1,434,000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
3
Stories
1
Units
1
Total area
2,497 SF
Lot
0.6 ac (26,000 SF)
Zoning code
C1
APN
2019210052
UPID
US90-3345021
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
3
Units
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Luke Corp
Entity
Mailing address
6022 BAYVIEW DR NE, TACOMA, WA 98422-1227
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
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
Oct 26, 2018
—
Luke Corporation
—
Deed
related
$1,200,000 · Gbc International Bank
Jul 31, 2007
$1,200,000
Luke Corp
Khehra LLC
Warranty Deed
$1,500,000 · Mirae Bank
Aug 3, 2005
$950,000
Khehra LLC
Singil,makhan
Warranty Deed
$776,489 · City Bank
Mar 20, 2000
—
Makhan Singh
Armanious,medhat
Grant Deed
$819,000 · Sterling Savings Bank
Feb 18, 2000
—
Medhat M Armanious
Armanious,merzat R
Quit Claim Deed
related
$670,000 · Frontier Bank
Feb 18, 2000
$756,209
Armanious,medhat M
Atlantic Richfield Co
Trustees Deed
—
Mar 15, 1988
$282,255
Atlantic Richfield Co
Unknown
Grant Deed
—
—
—
Luke Corp
—
Deed Of Trust
related
$1,200,000 · Gbc Int'l Bk
—
—
Khehra LLC
—
Deed Of Trust
related
$1,020,190 · City Bank
—
—
Makhan Singh
—
Deed Of Trust
related
$125,000 · Northwest International Bank
—
—
Khehra LLC
—
Deed Of Trust
related
$200,000 · Makhan Singh
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.
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