Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2102 N Pearl St Tacoma, WA 98406

    • Office Properties & Spaces
    • 9,672 SF
    • 0.94 lot acres
    For Lease
    View listing
    $28 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1331803
    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.

    Current Use by Public Records

    • Dynan & Associates, P.S. / Law Firm
    • Winters Jack R DDS / Dental Office
    • David E. Cullinane, PT / Physician
    • Westgate Orthopaedic Physical Therapy & Exercise: Sinykin John / Physician
    • Westgate Orthopaedic Physical Therapy & Exercise: Terao Maurisa / Physician

    Property Details for 2102 N Pearl St

    Year built
    1991
    Construction
    WOOD FRAME
    Lot size
    0.94 lot acres
    Property size
    9,672 SF
    Zone code
    T
    Property type
    Office Properties & Spaces
    APN
    6945000407
    APU
    6945000407

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,225,000
      6.5%
      $2,055,000
      7%
      $1,905,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,913,000
      Market price range: $693k - $1.91M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,980,000
      Current use
      RESTAURANT
      $3,785,000
      Change: +27% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,570,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $2,920,000
      Change: -2% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,900,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.516
    Latitude
    47.2676
    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
    $45,952
    $1,233,500
    $2,902,700
    $4,136,200
    -
    $1,233,500
    $2,902,700
    $4,136,200

    Comparable in this City

    • Value Estimation
      $2,485,000
      16,406 SF

      6004 Westgate Blvd

      OFFICE (GENERAL) • 16,406 SF
      6004 Westgate Blvd, Tacoma, WA 98406-2503
      View Details
    • Value Estimation
      $2,455,000
      16,309 SF

      6002 Westgate Blvd

      OFFICE (GENERAL) • 16,309 SF
      6002 Westgate Blvd, Tacoma, WA 98406-2570
      View Details
    • Value Estimation by Request
      2,352 SF

      1919 Pearl St Ste B4

      OFFICE (GENERAL) • 2,352 SF
      1919 Pearl St Ste B4, Tacoma, WA 98406-2489
      View Details
    • Value Estimation by Request
      2,186 SF

      1919 Pearl St Ste C1

      OFFICE (GENERAL) • 2,186 SF
      1919 Pearl St Ste C1, Tacoma, WA 98406-2490
      View Details
    • Value Estimation by Request
      444 SF

      2613 21st St

      OFFICE (GENERAL) • 444 SF
      2613 21st St, Tacoma, WA 98406-7517
      View Details
    • Value Estimation
      $810,000
      5,040 SF

      2102 Pearl St, Unit 12651

      OFFICE (GENERAL) • 5,040 SF
      2102 Pearl St, Tacoma, WA 98406-2530
      View Details

    Similar Nearby for Sale

    • $679,500
      711 SF

      Remodeled Building in Tacoma Business District

      Charming, remodeled building with parking in a bustling business district.
      3219 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      5,000 SF

      Tacoma Retail/Office Building on 6th

      Retail/office building on 6th Avenue, close to University of Puget Sound.
      2407 6Th Avenue Ct, Tacoma, WA 98406
      View Details
    • $695,000
      1,534 SF

      Freestanding Building in 6th Ave District

      1,534 SF building on 6,000 SF lot in Tacoma.
      3710 6Th Ave, Tacoma, WA 98406
      View Details
    • $5,000,000

      Planet Fitness in Westgate South

      22,336 SF single tenant Planet Fitness in Tacoma, Washington.
      2217 N Pearl St, Tacoma, WA 98406
      View Details
    • $999,999
      3,594 SF

      Mixed-Use Retail and Apartments

      Retail space with apartments and storage in vibrant 6th Avenue.
      3825 6Th Ave, Tacoma, WA 98406
      View Details
    • $1,800,000
      5,736 SF

      Restaurant Building with Highway Access

      Restaurant building with real estate included, located near major businesses.
      6501 6Th Ave, Tacoma, WA 98406
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      12,000 SF

      Tacoma Office Space: 6th Ave Gem

      Prime Tacoma office, flexible suites available.
      2609 6Th Ave, Tacoma, WA 98406
      View Details
    • $20 SF/Yr
      5,000 SF

      Mixed-Use Space in Tacoma

      5,000 SF space suitable for office or retail use.
      2407-2411 6Th Ave, Tacoma, WA 98406
      View Details
    • $28 SF/Yr
      2,937 SF

      Tacoma Office Space Available

      Office space for lease in Tacoma, Washington.
      2102 N Pearl St, Tacoma, WA 98406
      View Details
    • $30 SF/Yr
      2,370 SF

      Office Space with Private Offices

      Office space featuring private offices, conference room, and break room.
      5929 Westgate Blvd, Tacoma, WA 98406
      View Details
    • $20 SF/Yr
      3,874 SF

      Class A Office Building

      Class A office building with professional management and landscaping.
      6004 Westgate Blvd, Tacoma, WA 98406
      View Details
    • $12 SF/Yr
      8,000 SF

      Tacoma Office Space Available

      8,000 SF office space for lease in Tacoma, WA.
      2609 6Th Ave, Tacoma, WA 98406
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2102 N Pearl St
    Tacoma, WA 98406
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.