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Property profile & analytics
OFF-MARKET
Estimated value
$3,525,000
Retail space
1902 Milwaukee Way Tacoma, WA 98421-2702
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0314683
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2014
Construction
WOOD FRAME
Total area
18,780 SF
Lot
1.14 ac (49,658 SF)
Zoning code
PMI
APN
6970000010
UPID
US90-0314683
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
-
Pioneer Food Services/TRRC Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.48M
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$3.53M
Owner & transaction history
Pioneer Human Services · 11 yrs held
Pioneer Human Services
since 2014
7 recorded transactions
Zoning & alternative use
PMI · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.8M
+2.1%
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%
$3,765,000
6.5%
$3,475,000
7%
$3,230,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,670,000
Current use
COMMERCIAL (GENERAL)
$5,790,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$5,625,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$4,595,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.53M
Range $3.17M – $3.88M · ±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
$188 / 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
$12
Tax year 2024
Assessed value
$4,190,700
Assessed 2024
Previous assessed
$4,190,700
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,276,500
Assessed improvement
$2,914,200
Land market value
$1,276,500
Improvement market value
$2,914,200
Total market value
$4,190,700
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
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2014
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
18,780 SF
Lot
1.14 ac (49,658 SF)
Zoning code
PMI
APN
6970000010
UPID
US90-0314683
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
RETAIL STORES Current
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$5.8M
WAREHOUSE, STORAGE
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$4.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
2014
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Pioneer Human Services
Individual
Mailing address
7440 W MARGINAL WAY S, SEATTLE, WA 98108-4141
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2017
—
Pioneer Human Services
—
Deed
related
—
Oct 30, 2014
$750,000
Pioneer Human Services
Sound Environment Properties L
Grant Deed
—
Apr 16, 2012
$300,000
Sound Environment Props LLC
Christel Ents LLC
Quit Claim Deed
related
—
May 8, 2009
—
Sound Environment Props LLC
Marino,victor C
Deed In Lieu Of Foreclosure
related
—
Dec 12, 2005
—
Victor C Marino
Marino,victor C & Druzella K W
Quit Claim Deed
related
—
Sep 11, 1991
$435,000
Victor C Marino
Unknown
Grant Deed
$348,000 · Seller
—
—
Victor C Marino
—
Deed Of Trust
related
$102,766 · Fife Commercial Bank
—
—
Sba 2012 Tc Assets LLC
—
Deed Of Trust
related
—
—
—
Victor C Marino
—
Deed Of Trust
related
$70,882 · Fife Commercial Bank
—
—
Victor C Marino
—
Deed Of Trust
related
$183,360 · Alliance Door Products LLC
—
—
Victor C Marino
—
Deed Of Trust
related
$115,686 · Lumber Products INC
—
—
Victor Marino
—
Deed Of Trust
related
$125,000 · Codel Entry Systems Corp
—
—
Victor C Marino
—
Deed Of Trust
related
$300,000 · Moulding & Millwork INC
—
—
T2 Unison Site Management LLC
—
Deed Of Trust
related
$200,000,000 · Deutsche Bank Trust Co America
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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