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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Flex space
2232 Prt Of Tacoma Rd Tacoma, WA 98421-3607
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0534895
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,544 SF
Lot
0.66 ac (28,800 SF)
Zoning code
PMI
APN
321353034
UPID
US90-0534895
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
-
Chambers Bay RV Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$920k
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$882k
Blend (final)
Blend
$1.05M
Owner & transaction history
2232 Port Of Tacoma LLC · 4 yrs held
2232 Port Of Tacoma LLC
since 2022
Last sale
$1.0M
3 recorded transactions
Zoning & alternative use
PMI · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.6M
+45.6%
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
$1,030,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$1,170,000
6.5%
$1,080,000
7%
$1,000,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,100,000
Current use
MEDICAL BUILDING
$1,600,000
Change: +46% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±10% · vs last sale $1.04M (Mar 29 2022)
Last sale anchor
$1.04M
Mar 29 2022
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
$160 / 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
$10,427
Tax year 2024
Assessed value
$937,800
Assessed 2024
Previous assessed
$937,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$812,700
Assessed improvement
$125,100
Land market value
$812,700
Improvement market value
$125,100
Total market value
$937,800
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Total area
6,544 SF
Lot
0.66 ac (28,800 SF)
Zoning code
PMI
APN
321353034
UPID
US90-0534895
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PMI · Tacoma, WA
Zoning PMI · permitted uses
PMI · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
2232 Port Of Tacoma LLC
Entity
Mailing address
2318 121ST AVE SE, BELLEVUE, WA 98005-4139
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
—
2232 Port Of Tacoma LLC
Ara Hakobyan
Quit Claim Deed
related
$935,000 · Washington Federal Bank
Aug 10, 2021
$1,040,000
Ara Hakobyan
Joseph U White
Warranty Deed
$440,000 · Joseph U White Etux
May 21, 2010
$495,000
Joseph U White
Nelson Bjarne
Warranty Deed
$295,000 · Bjarne Nelson
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.
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