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Property profile & analytics
FOR SALE
Medical Office Space
201 N I St, Tacoma, WA 98403
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-0088799
For Sale
1 / 22
$799,000
201 N I St, Tacoma, WA 98403
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,207 SF
Lot
0.07 ac (3,225 SF)
Zoning code
NCX
APN
2032170070
UPID
US90-0088799
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
-
Alison Kerr Alternative Medicine Practice
-
Timsobiept/Alliantcare.Com Physician
-
Grace J. Harstad, PT Physician
-
Alliant Physical Therapy & Integral Medicine Medical Clinic
-
The Alliant Building Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$705k
Comparable Approach
Comparable
$374k
Blend (final)
Blend
$560k
Owner & transaction history
Wright Space 201 LLC · 20 yrs held
Wright Space 201 LLC
since 2006
7 recorded transactions
Zoning & alternative use
NCX · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$765,000
6.5%
$705,000
7%
$655,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$785,000
Current use
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$175 / 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
$8,767
Tax year 2024
Assessed value
$788,300
Assessed 2024
Previous assessed
$788,300
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$175,100
Assessed improvement
$613,200
Land market value
$175,100
Improvement market value
$613,200
Total market value
$788,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
3,207 SF
Lot
0.07 ac (3,225 SF)
Zoning code
NCX
APN
2032170070
UPID
US90-0088799
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NCX · Tacoma, WA
Zoning NCX · permitted uses
NCX · 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
MEDICAL BUILDING Current
Est. value
$785,000
MEDICAL BUILDING Current
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
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Wright Space 201 LLC
Entity
Mailing address
4710 TOWHEE DR NW, GIG HARBOR, WA 98332-7863
Ownership since
2006
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
Sep 16, 2019
—
Wrightspace201 LLC
—
Deed
related
$200,000 · Us Bank NA
Jun 2, 2006
$717,000
Wright Space 201 LLC
Stadium District 201 LLC
Warranty Deed
$473,781 · Harborstone Cu
Feb 23, 2005
$400,000
Stadium District 201 LLC
Youth For Christ Of Tacoma Area
Warranty Deed
—
Jan 27, 1988
$80,000
William R Reed
Unknown
Grant Deed
$82,400
—
—
Stadium District 201 LLC
—
Deed Of Trust
related
$525,000 · Venture Bank
—
—
For Christ Tacoma Area Youth
—
Deed Of Trust
related
$25,643 · Key Bank Of Washington
—
—
For Christ Tacoma Area Youth
—
Deed Of Trust
related
$50,000 · Fife Commercial Bank
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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