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Property profile & analytics
OFF-MARKET
Estimated value
$4,650,000
Strip malls
2505 38th St Tacoma, WA 98409-7372
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-1694289
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,432 SF
Lot
4.74 ac (206,474 SF)
Zoning code
UCX
APN
5270000811
UPID
US90-1694289
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
-
Men's Wearhouse Clothing & Fashion Store
-
Wingstop Restaurant
-
SKECHERS Warehouse Outlet Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Michael E. Heil, OD Physician
-
The Good Feet Store Orthotics & Prosthetics Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.65M
Owner & transaction history
Lincoln Plaza Tic 25 LLC · 20 yrs held
Lincoln Plaza Tic 25 LLC
since 2006
7 recorded transactions
Zoning & alternative use
UCX · Tacoma, WA
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,355,000
6.5%
$5,865,000
7%
$5,450,000
Blend value · Realmo final
$4.65M
Range $4.19M – $5.12M · ±10%
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
$176 / 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
$172,021
Tax year 2024
Assessed value
$15,486,700
Assessed 2024
Previous assessed
$15,486,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$6,841,100
Assessed improvement
$8,645,600
Land market value
$6,841,100
Improvement market value
$8,645,600
Total market value
$15,486,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Total area
26,432 SF
Lot
4.74 ac (206,474 SF)
Zoning code
UCX
APN
5270000811
UPID
US90-1694289
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
UCX · Tacoma, WAZoning UCX · permitted uses
UCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Ordinance Table
Building & site characteristics
From public records
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
4.74 ac
Current owner
From public records · entity-resolved
Lincoln Plaza Tic 25 LLC
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 997, SNOQUALMIE, WA 98065-0997
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
23 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2006
$457,200
Lincoln Plaza Tic 25 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$990,600
Lincoln Plaza Tic 26 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$889,000
Lincoln Plaza Tic 16 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$762,000
Lincoln Plaza Tic 19 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$1,524,000
Lincoln Plaza Tic 22 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$812,800
Lincoln Plaza Tic 18 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$711,200
Lincoln Plaza Tic 20 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$787,400
Lincoln Plaza Tic 24 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$508,000
Lincoln Plaza Tic 21 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$1,016,000
Lincoln Plaza Tic 27 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Jun 27, 2006
$482,600
Lincoln Plaza Tic 23 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$1,473,200
Lincoln Plaza Tic 15 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$381,000
Lincoln Plaza Tic 10 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$558,800
Lincoln Plaza Tic 11 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$838,200
Lincoln Plaza Tic 12 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$482,600
Lincoln Plaza Tic 17 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$406,400
Lincoln Plaza Tic 13 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
May 26, 2006
$762,000
Lincoln Plaza Tic 14 LLC
Passco Lincoln Plaza S LLC
Warranty Deed
—
Apr 14, 2006
—
Lincoln Plaza Tic 7 LLC
Passco Lincoln Plaza S LLC
Quit Claim Deed
—
Apr 13, 2006
—
Lincoln Plaza Tic 3 LLC
Passco Lincoln Plaza S LLC
Quit Claim Deed
—
May 30, 1997
—
Mp Lincoln Plaza INC
Seafirst Bank
Quit Claim Deed
related
—
Jun 29, 1988
$9,510,000
Bell Mstr Southwestern
Unknown
Grant Deed
—
—
—
Lincoln Plaza-2505 LLC
—
Deed Of Trust
related
$17,300,000 · Miscellaneous Ins Co
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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