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    2101 Jefferson Ave Tacoma, WA 98402-1519
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    Property profile & analytics

    2101 Jefferson Ave, Tacoma, WA 98402-1519

    View on Map
    • Manufacturing properties
    • 0.27 lot acres
    Off-Market
    Last Sale May 21, 2021
    Property ID
    US90-1968289
    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
    Location Intelligence

    Current Use by Public Records

    • Canteen by Camp Colvos / Restaurant
    • Naomi Joe Coffee / Cafe & Coffee Shop / Specialty Food Shop
    • Portland Press Inc / Department Store
    • 7 Seas Brewery and Taproom / Production Facility / Brewery & Distillery

    Property Details for 2101 Jefferson Ave

    Lot size
    0.27 lot acres
    Property type
    Manufacturing properties
    APN
    2021070011
    APU
    2021070011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 9, 2021 — City Of Tacoma Bunghole Management LLC Re-recorded Document · related —
    Sep 17, 2021 — City Of Tacoma Bunghole Management LLC Re-recorded Document · related —
    May 21, 2021 — City Of Tacoma Bunghole Management LLC Deed —
    Apr 6, 2017 — Bunghole Management LLC — Deed · related $2.1M · Ameritrust Cdc
    Feb 15, 2017 $250,000 City Of Tacoma Bnsf Railway Co Quit Claim Deed · related —
    Dec 17, 2015 $2,799,719 Bunghole Management LLC Jefferson Avenue LLC Warranty Deed $2.6M · Heritage Bank
    — — Bunghole Management LLC — Deed Of Trust · related $2.6M · Heritage Bk
    — — Bunghole Management LLC — Deed Of Trust · related $2.1M · Ameritrust Cdc

    Description

    This exceptional 10,585-square-foot industrial flex space is ideally situated at 2101 Jefferson Avenue in Tacoma, Washington, 98402. The property boasts a single-tenant occupancy, making it perfect for businesses seeking a dedicated and expansive workspace. The building features convenient grade-level access, significantly enhancing operational efficiency. A generously sized, private roll-up door facilitates easy loading and unloading of goods, streamlining logistics. The open floor plan offers unparalleled flexibility, readily adaptable to a variety of uses, including storage, packaging, or distribution operations. This versatile space presents a unique opportunity for businesses seeking a functional and well-located industrial property in the thriving Tacoma market. The property's location provides excellent access to major transportation routes, simplifying commutes and supply chain management. This is a single-tenant industrial building, offering a unique opportunity for a business to establish a strong presence in a desirable Tacoma location. The property's design and features are well-suited for businesses requiring ample space and convenient access for their operations. The open layout allows for customization to meet specific business needs, maximizing efficiency and productivity. This property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.439
    Latitude
    47.2426
    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
    $6,427
    $577,600
    $0.00
    $577,600
    -
    $577,600
    $0.00
    $577,600

    Comparable in this City

    • Value Estimation by Request
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      0.03 Acres

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      0.00 Acres

      714 Market St

      MINI-WAREHOUSE, STORAGE
      714 Market St, Tacoma, WA 98402-3703
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    • Value Estimation
      $1,390,000
      13,150 SF

      2354 Jefferson Ave

      WAREHOUSE, STORAGE
      2354 Jefferson Ave, Tacoma, WA 98402-1405
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    • Value Estimation by Request
      1,280 SF

      1902 Market St

      WAREHOUSE, STORAGE
      1902 Market St, Tacoma, WA 98402
      View Details

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    Tacoma, WA 98402-1519
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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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