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

    222 15th St Tacoma, WA 98402

    • Medical offices
    • 10,000 SF
    • 1.74 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1060442
    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

    • Medical offices

    Property Details for 222 15th St

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.74 lot acres
    Property size
    10,000 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    7790000045
    APU
    7790000045

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $780,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.292
    Latitude
    47.177
    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
    $69,629
    $3,142,900
    $3,872,000
    $7,014,900
    -
    $3,142,900
    $3,872,000
    $7,014,900

    Comparable in this City

    • Value Estimation
      $485,000
      3,804 SF

      801 Pacific Ave

      MEDICAL BUILDING • 3,804 SF
      801 Pacific Ave, Tacoma, WA 98402-5209
      View Details
    • Value Estimation
      $3,570,000
      54,000 SF

      737 Fawcett Ave

      MEDICAL BUILDING • 54,000 SF
      737 Fawcett Ave, Tacoma, WA 98402-5503
      View Details
    • Value Estimation
      $165,000
      2,625 SF

      725 St Helens Ave

      MEDICAL BUILDING • 2,625 SF
      725 St Helens Ave, Tacoma, WA 98402-3705
      View Details
    • Value Estimation
      $375,000
      9,267 SF

      134 188th S St

      MEDICAL BUILDING • 9,267 SF
      134 188th S St, Tacoma, WA 98402
      View Details
    • Value Estimation
      $240,000
      2,370 SF

      732 Broadway Ste, Unit 101

      MEDICAL BUILDING • 2,370 SF
      732 Broadway Ste, Tacoma, WA 98402-3702
      View Details
    • Value Estimation
      $300,000
      6,065 SF

      205 15th St

      MEDICAL BUILDING • 6,065 SF
      205 15th St, Tacoma, WA 98402
      View Details

    Similar Nearby for Sale

    • $1,650,000
      8,277 SF

      Tacoma Office Building - Owner/User Opportunity

      8,277 SF Office, Redevelopment Potential
      622 Tacoma Ave, Tacoma, WA 98402
      View Details
    • $4,000,000
      51,000 SF

      Tacoma Mixed-Use Investment Opportunity

      Two buildings, 51,000 SF, prime location
      738 Broadway, Tacoma, WA 98402
      View Details
    • $3,500,000
      24,000 SF

      Office and Retail Buildings For Sale

      Two renovated buildings: office/retail and parking garage.
      722 Broadway, Tacoma, WA 98402
      View Details
    • Contact for pricing
      11,320 SF

      Historic Tacoma Office Building

      Classic office space in downtown Tacoma with water and mountain views.
      621 Pacific Ave, Tacoma, WA 98402
      View Details
    • Contact for pricing

      Downtown Tacoma Opportunity Zone Building

      173,022 SF building with parking in Downtown Tacoma.
      1015 A St, Tacoma, WA 98402
      View Details
    • $695,000
      2,162 SF

      Well-Maintained Office Near Conservatory

      Office space with easy parking near restaurants and botanical conservatory.
      215 Tacoma Ave S, Tacoma, WA 98402
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      74,360 SF

      Downtown Tacoma Office Space

      Historic building, diverse office suites, prime location.
      917 Pacific Ave, Tacoma, WA 98402
      View Details
    • $15 SF/Yr
      10,550 SF

      Tacoma Brewery & Restaurant Space

      Historic building, fully renovated, prime location.
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
    • $21 SF/Yr
      20,253 SF

      Tacoma Office Space Available

      Office space for rent in Tacoma, Washington.
      1101-1111 Pacific Ave, Tacoma, WA 98402
      View Details
    • $22 SF/Yr
      19,384 SF

      Waterfront Mixed-Use Opportunity in Tacoma

      Office, retail, and restaurant spaces with views of Mt. Rainier.
      1701-1715 Dock St, Tacoma, WA 98402
      View Details
    • $26 SF/Yr
      110,440 SF

      Downtown Tacoma Office Space Available

      Office space for rent in downtown Tacoma with convenient amenities.
      1411-1423 Pacific Ave, Tacoma, WA 98402
      View Details
    • $18 SF/Yr
      11,729 SF

      Historic Warehouse Converted Office Space

      Office space in a converted historic warehouse with parking.
      2516 S Holgate St, Tacoma, WA 98402
      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.
    222 15th St
    Tacoma, WA 98402
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.