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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Office Spaces
1916 Washington St, Tacoma, WA 98405-1025
Entity Owned
22-yr Hold
Free & Clear
Property ID
US90-0108274
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2003
Construction
WOOD FRAME
Total area
4,536 SF
Lot
0.85 ac (36,960 SF)
Zoning code
T
APN
220121155
UPID
US90-0108274
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
-
ARK Institute of Learning Training Center Tutoring Service
-
Ivey West Medical Clinic
-
Audrey J. Don, PhD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$965k
Comparable Approach
Comparable
$913k
Blend (final)
Blend
$870k
Owner & transaction history
ARK FOUNDATION LEARNING
ARK FOUNDATION LEARNING
Zoning & alternative use
T · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+36.2%
Warehouse, storage
$1.4M
+35.1%
Medical building
$1.1M
+10.4%
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%
$1,045,000
6.5%
$965,000
7%
$895,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,005,000
Current use
RETAIL STORES
$1,370,000
Change: +36% · Conversion: Easy
WAREHOUSE, STORAGE
$1,360,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$1,110,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±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
$192 / 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
$11,716
Tax year 2024
Assessed value
$1,053,800
Assessed 2024
Previous assessed
$1,053,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$770,200
Assessed improvement
$283,600
Land market value
$770,200
Improvement market value
$283,600
Total market value
$1,053,800
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2003
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Total area
4,536 SF
Lot
0.85 ac (36,960 SF)
Zoning code
T
APN
220121155
UPID
US90-0108274
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
T · Tacoma, WA
Zoning T · permitted uses
T · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.1M
COMMERCIAL (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
2003
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
ARK FOUNDATION LEARNING
Individual
Free & Clear · 0 yrs held
Mailing address
1916 S WASHINGTON ST, TACOMA, WA 98405-1025
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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