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    2112 109th S St Tacoma, WA 98444-8717
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    Property profile & analytics

    2112 109th S St Tacoma, WA 98444-8717

    View on Map
    • Warehouses
    • 9,500 SF
    • 1.51 lot acres
    Off-Market
    Property ID
    US90-1325137
    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
    $985,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Yeti Floor Cleaning / Carpet Cleaning Service / Tile Cleaning Service
    • Infinite Hardwood Distributors / Building Supply / Carpet & Flooring Store
    • Fhs Hospice / Nursing Home
    • Brontide Productions / Film Production / Television Studio
    • PNW Moving and Delivery / Moving Company / Storage Facility

    Property Details for 2112 109th S St

    Year built
    1983
    Construction
    WOOD FRAME
    Lot size
    1.51 lot acres
    Property size
    9,500 SF
    Zone code
    CE
    Property type
    Warehouses
    APN
    8888879170
    APU
    8888879170

    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
    -122.466
    Latitude
    47.1581
    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
    $10,497
    $0.00
    $600,800
    $600,800
    -
    $0.00
    $600,800
    $600,800

    Comparable in this City

    • Value Estimation
      $835,000
      7.77 Acres

      11721 Steele S St

      WAREHOUSE, STORAGE • 7.77 Acres
      11721 Steele S St, Tacoma, WA 98444-1321
      View Details
    • Value Estimation
      $1,575,000
      13,550 SF

      10727 A S St

      WAREHOUSE, STORAGE • 13,550 SF
      10727 A S St, Tacoma, WA 98444-6023
      View Details
    • Value Estimation
      $1,575,000
      13,550 SF

      10729 A S St

      WAREHOUSE, STORAGE • 13,550 SF
      10729 A S St, Tacoma, WA 98444-6019
      View Details
    • Value Estimation
      $1,455,000
      14,400 SF

      11007 A S St

      MINI-WAREHOUSE, STORAGE • 14,400 SF
      11007 A S St, Tacoma, WA 98444-5729
      View Details
    • Value Estimation
      $5,315,000
      45,080 SF

      10731 A S St

      WAREHOUSE, STORAGE • 45,080 SF
      10731 A S St, Tacoma, WA 98444-6028
      View Details
    • Value Estimation
      $830,000
      7,200 SF

      15411 1st Ave Ct S Ste A

      MINI-WAREHOUSE, STORAGE • 7,200 SF
      15411 1st Ave Ct S Ste A, Tacoma, WA 98444-6900
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      32,200 SF Three-Building Business Park

      32,200 SF business park with high visibility and great access.
      11302 Steele St South, Tacoma, WA 98444
      View Details
    • $1,050,000
      23,958 SF

      Secured Contractor Yard with Office

      Level, secured contractor yard with remodeled office and I-5 access.
      2605 96Th St S, Tacoma, WA 98444
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    • Contact for pricing

      Three-Building Business Park For Sale

      32,200 SF business park with high visibility and great access.
      11302 Steele St South, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Land For Sale

      0.64 acre land available for sale.
      11207 B St S, Tacoma, WA 98444
      View Details
    • $2,250,000
      20,224 SF

      Parkland Commercial Building and Lot

      20,000 SF building with adjacent vacant lot for sale.
      502 112Th St S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      5,938 SF

      Tacoma Office or Retail Space

      Open-concept space on Pacific Ave, ideal for diverse businesses.
      12202 Pacific Ave S, Tacoma, WA 98444
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,685 SF

      Retail Space in High-Traffic Area

      End-cap unit suitable for retail or professional office use.
      13022 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $1,781 /Mo
      1,125 SF

      Retail/Office Space in High-Traffic Area

      1,125 SF retail or office space in Tacoma for rent.
      2015 96Th St S, Tacoma, WA 98444
      View Details
    • $2,417 /Mo
      2,685 SF

      High-Traffic Retail/Office End Cap

      End-cap unit ideal for retail or office use.
      13022 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $2,217 /Mo
      1,400 SF

      Retail/Office Space in Tacoma

      1,400 SF retail/office space with ample parking.
      2015 96Th St S, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces in high-traffic location near university.
      S & C St S, Tacoma, WA 98444
      View Details
    • Contact for pricing

      Mixed-Use Property on Spanaway Loop

      2.36 acre mixed-use property with office and garage.
      12160 Spanaway Loop Rd S, Tacoma, WA 98444
      View Details
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    2112 109th S St
    Tacoma, WA 98444-8717
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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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