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    1941 Marine View Dr Tacoma, WA 98422
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    Property profile & analytics

    1941 Marine View Dr, Tacoma, WA 98422

    View on Map
    • Retail space
    • 5,488 SF
    • 1.69 lot acres
    For Sale
    $3,000,000
    View Listing →
    Industrial Property Near Port Operations For Sale
    $3,000,000
    8,890 SF

    Industrial Property Near Port Operations

    Income-generating industrial property near port with value-add potential.

    1941 Marine View Dr, Tacoma, WA 98422
    View Listing
    Property ID
    US90-0449991
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    2.7%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • The SandBar & Grill / Bar & Pub
    • Earth Tech Industries / Landscaping
    • LadyBug Bikini Espresso / Take-out & Catering / Cafe & Coffee Shop

    Property Details for 1941 Marine View Dr

    Year built
    1983
    Construction
    WOOD FRAME
    Lot size
    1.69 lot acres
    Zone code
    M2
    Property type
    Retail space
    APN
    321362054
    APU
    321362054

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 5, 2021 $1,600,000 Tac Town LLC 1941 Marine LLC Warranty Deed $1.3M · Columbia State Bank
    Jul 17, 2020 — 1941 Marine LLC — Deed · related $50k · Us Bk
    Apr 26, 2019 — 1941 Marine LLC — Deed · related —
    Mar 29, 2017 — 1941 Marine LLC — Deed · related $539k · Us Bk
    Dec 17, 2010 $650,000 1941 Marine LLC Oline,ronald S Warranty Deed $573k · Seacoast Commerce Bank
    Jan 14, 2010 — Ronald S Oline Oline Alba M Trust Quit Claim Deed · related —
    Mar 1, 1988 $42,000 Alba M Oline Unknown Grant Deed —
    — — 1941 Marine LLC — Loan Modification · related —
    — — 1941 Marine LLC — Loan Modification · related $50k · Us Bk
    — — 1941 Marine LLC — Deed Of Trust · related $539k · Us Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,480,000
      ML approach
      $2,095,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,352,000
      Market price range: $413k - $1.35M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,655,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,325,000
      Change: +40% Conversion: Moderate
      RESTAURANT
      $2,150,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,025,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,645,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $1,345,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.374
    Latitude
    47.2717
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,192
    $982,600
    $744,300
    $1,726,900
    -
    $982,600
    $744,300
    $1,726,900

    Comparable in this City

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    • Value Estimation
      $550,000
      2,733 SF

      10118 224th E St

      RETAIL STORES (PERSONAL SERVICES)
      10118 224th E St, Tacoma, WA 98422
      View Details
    • Value Estimation
      $1,305,000
      8,322 SF

      4125 49th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      4125 49th NE Ave, Tacoma, WA 98422-2423
      View Details
    • Value Estimation
      $1,380,000
      5,392 SF

      18215 9th E St

      RETAIL STORES (PERSONAL SERVICES)
      18215 9th E St, Tacoma, WA 98422
      View Details
    • Value Estimation
      $505,000
      2,501 SF

      3301 49th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      3301 49th NE Ave, Tacoma, WA 98422-2517
      View Details
    • Value Estimation
      $1,015,000
      8,670 SF

      6546 21st NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      6546 21st NE Ave, Tacoma, WA 98422
      View Details

    Similar Nearby for Sale

    • $1,450,000

      Remodeled Office and Warehouse Space

      Remodeled office, shop, and yard near Highway 167 extension.
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    • $275,000

      Raw Land on Marine View

      0.61 acres of raw land in the Port of Tacoma.
      3103 Marine View Dr, Tacoma, WA 98422
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    • $275,000
      26,572 SF

      Raw Land on Marine View

      0.61 acres of raw land in the Port of Tacoma.
      3103 Marine View Dr, Tacoma, WA 98422
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    • $2,990,000

      Prime Contractor Yard Opportunity

      2.05 acre lot suitable for owner-user or redevelopment.
      8112 Pacific Hwy E, Tacoma, WA 98422
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      Flat Land Parcel in Tacoma

      Commercial land parcel in Tacoma's General Neighborhood Commercial District.
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      Large Lot in Browns Point

      Large lot ideal for luxury home or multi-plex development.
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    Similar Nearby for Lease

    • $2,647 /Mo
      1,444 SF

      Retail/Office Space in Town Center

      1444 SF retail/office space in renovated town center.
      1000 Town Ctr NE, Tacoma, WA 98422
      View Details
    • Contact for pricing

      Browns Point Town Center Retail

      Neighborhood retail destination undergoing major renovation and repositioning.
      1000 Town Ctr NE, Tacoma, WA 98422
      View Details
    • $2,001 /Mo
      1,330 SF

      Neighborhood Office Space Available

      Office space available for rent in excellent condition.
      2715 64Th Ave NE, Tacoma, WA 98422
      View Details
    View Listing
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    Tacoma, WA 98422
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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