Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2518 Stevens St Tacoma, WA 98406-3946
    Back to Search
    Property profile & analytics

    2518 Stevens St, Tacoma, WA 98406-3946

    View on Map
    • Grocery and convenience stores
    • 1,421 SF
    • 0.54 lot acres
    Off-Market
    Last Sale May 23, 2024
    $3,100,000
    Property ID
    US90-0046519
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shell / Gas Station

    Property Details for 2518 Stevens St

    Year built
    1965
    Construction
    WOOD FRAME
    Lot size
    0.54 lot acres
    Zone code
    C1
    Property type
    Grocery and convenience stores
    APN
    7475012980
    APU
    7475012980

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 23, 2024 $3,100,000 Ak Saroya LLC Ntp LLC Warranty Deed $2.3M · Open Bank
    Dec 27, 2006 $445,000 Ntp LLC Equilon Ents LLC Grant Deed $400k · Key Bank NA
    Aug 26, 1998 — Equilon Enterprises LLC Texaco Refining & Marketing Grant Deed · related —
    Jan 8, 1991 $274,000 Texaco Refining & Marketing INC Unknown Grant Deed —

    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
    -122.497
    Latitude
    47.2707
    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
    $12,590
    $1,006,700
    $125,800
    $1,132,500
    -
    $1,006,700
    $125,800
    $1,132,500

    Comparable in this City

    • Value Estimation by Request
      2,560 SF

      3115 6th Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      3115 6th Ave, Tacoma, WA 98406-6225
      View Details
    • Value Estimation
      $505,000
      3,028 SF

      1101 Pearl St

      CONVENIENCE STORE (W/FUEL PUMP)
      1101 Pearl St, Tacoma, WA 98406-7923
      View Details
    • Value Estimation by Request
      2,400 SF

      7202 6th Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      7202 6th Ave, Tacoma, WA 98406-1220
      View Details
    • Value Estimation by Request
      1,568 SF

      6701 6th Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      6701 6th Ave, Tacoma, WA 98406-1701
      View Details
    • Value Estimation
      $590,000
      3,010 SF

      5110 6th Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      5110 6th Ave, Tacoma, WA 98406-2602
      View Details
    • Value Estimation
      $4,630,000
      26,970 SF

      2420 Proctor St

      RETAIL STORES (PERSONAL SERVICES)
      2420 Proctor St, Tacoma, WA 98406-5336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,534 SF

      Freestanding Building in 6th Ave District

      1,534 SF building on 6,000 SF lot in Tacoma.
      3710 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      711 SF

      Remodeled Building in Tacoma Business District

      Charming, remodeled building with parking in a bustling business district.
      3219 6Th Ave, Tacoma, WA 98406
      View Details
    • $1,300,000
      4,344 SF

      North Tacoma Mixed-Use Building

      Mixed-use building in North Tacoma with apartments and commercial spaces.
      2712 21St St, Tacoma, WA 98406
      View Details
    • Contact for pricing

      Planet Fitness in Westgate South

      22,336 SF single tenant Planet Fitness in Tacoma, Washington.
      2217 N Pearl St, Tacoma, WA 98406
      View Details
    • Contact for pricing

      Tacoma Bike Building on 6th

      Retail building on 6th Avenue with investment opportunity.
      3010-3012 6Th Avenue Ct, Tacoma, WA 98406
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,096 SF

      Retail Space Near Highway 16

      Retail space visible from Highway 16, near Winco grocery.
      5902 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      29,080 SF

      Retail Space in Tacoma

      Retail space with great access, parking, and signage.
      5401 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space on 6th Avenue

      Retail space for rent in a great location.
      3701 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,650 SF

      Mixed-Use Space in Tacoma

      5,000 SF space suitable for office or retail use.
      2407-2411 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Proctor District

      Retail space available in Tacoma's vibrant Proctor District.
      2315 N Pearl St, Tacoma, WA 98406
      View Details
    • $3,167 /Mo
      1,000 SF

      Retail Space in Proctor District

      Retail space available in Tacoma's vibrant Proctor District.
      2315 Pearl St, Tacoma, WA 98406
      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.
    2518 Stevens St
    Tacoma, WA 98406-3946
    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

    Thank You for Inquiry
    2518 Stevens St, Tacoma, WA, 98406
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!