Entity Owned 
For Lease
Contact for pricing
2315 N Pearl St, Tacoma, WA 98406
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Property summary
AI-generated overview
The property consists of retail space within Westgate South, a lifestyle center in the Proctor District of Tacoma, Washington. The center is anchored by Planet Fitness and Picklr and includes a mix of tenants such as Starbucks, McDonald’s, Stretch Lab, Comfort Dental, and Club Pilates. The building complex is planned to include additional indoor pickleball facilities (The Picklr Premium Indoor Pickleball Courts). The specific available unit is configured as retail space measuring approximately 1,000 square feet.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,040 SF
Lot
1.91 ac (83,112 SF)
Zoning code
CCX
APN
7045000373
UPID
US90-1575188
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Restaurant Take-out & Catering
-
(Bike/Boat/Book/etc) Store Cosmetic Store
-
Arcade & Gaming Center Electronics & Wireless Store
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$230k
Owner & transaction history
since 2024
Last sale
$12.9M
5 recorded transactions
Zoning & alternative use
CCX · Tacoma, WA
Zoning description
CCX: Community Commercial Mixed-Use District The CCX D istrict provides commercial and retail businesses which are intended to serve many nearby areas and attract people from throughout the City. This district is envisio…
General category
MIXED_USE
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$230k
Value range
$207k – $253k
±10% around blend
Estimated value / SF
$19 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
30
Income certainty
100
$207k
blend $230k
$253k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,040 SF
Lot area
1.91 ac
Year built
1987
Stories
1
APN
7045000373
Zoning
CCX
Assessed value
$2,774,100
Annual tax
$30,823
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$30,823
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.16M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.7 mi away · 14,976 SF
24.1 mi away · 11,502 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$230k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 34 sales
$424
-95%
County 68 sales
$426
-96%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $19/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$243k
Move the market yield to see immediate price impact.
Value / SF
$20
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$15k
$306k
$219k
$170k
$17k
$340k
$243k
$189k
$19k
$374k
$267k
$208k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$3.50M
3.9 mi · Dec 2025 · $270/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$30,823
Tax year 2024
Assessed value
$2,774,100
Assessed 2024
Previous assessed
$2,774,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,186,000
Assessed improvement
$588,100
Land market value
$2,186,000
Improvement market value
$588,100
Total market value
$2,774,100
Applied tax rate
5.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
6
Total area
12,040 SF
Lot
1.91 ac (83,112 SF)
Zoning code
CCX
APN
7045000373
UPID
US90-1575188
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CCX · Tacoma, WAZoning CCX · permitted uses
CCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
CCX: Community Commercial Mixed-Use District The CCX D istrict provides commercial and retail businesses which are intended to serve many nearby areas and attract people from throughout the City. This district is envisio…
General category
MIXED_USE
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
6
Lot
1.91 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CCX
MIXED_USE
Jurisdiction
Tacoma, WA
Recorded code
CCX
Official district
CCX
Official district profile
What the municipal code says about CCX
Zoning description
CCX: Community Commercial Mixed-Use District The CCX D istrict provides commercial and retail businesses which are intended to serve many nearby areas and attract people from throughout the City. This district is envisio…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CCX in Tacoma, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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