Entity Owned Property summary
AI-generated overview
Westgate North, a single-story, 7,819 square foot retail shopping center in Tacoma, WA, presents a unique investment opportunity. The property, located at 2601 N Pearl St, 98407, is situated in the CBA North Tacoma submarket of Pierce County and boasts a prime location on Pearl Street (Highway 163), enjoying high visibility with over 23,000 cars passing daily. The entire 7,819 square feet is currently vacant, offering flexible space options ranging from a minimum of 1,602 square feet to a maximum contiguous space of 3,417 square feet. The property's zoning is CCX. Its strategic location benefits from proximity to Point Defiance Park and Zoo & Aquarium, attracting an estimated 700,000 visitors annually. The center is part of a high-density neighborhood with above-average household incomes, creating a strong potential customer base. The property consists of one building and features multiple tenancy options. The APN numbers are 7045000158
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,118 SF
Lot
1.43 ac (62,465 SF)
APN
7045000317
UPID
US90-2957687
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
-
Business Service Center Corporate Office
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
by Request
Owner & transaction history
since 2025
Last sale
$38.0M
5 recorded transactions
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.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Realmo’s models returned no estimation for this property yet.
2
Subject property
Included free
GBA
5,118 SF
Lot area
1.43 ac
Year built
2017
Stories
1
APN
7045000317
Assessed value
$5,005,000
Annual tax
$55,602
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 34 sales
$424
N/A
County 68 sales
$426
N/A
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
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: replacement-cost inputs are not on file.
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
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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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$38.02M
Move the market yield to see immediate price impact.
Value / SF
$7,429
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%
$2.40M
$47.90M
$34.22M
$26.61M
$2.66M
$53.23M
$38.02M
$29.57M
$2.93M
$58.55M
$41.82M
$32.53M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$55,602
Tax year 2024
Assessed value
$5,005,000
Assessed 2024
Previous assessed
$5,005,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,886,500
Assessed improvement
$3,118,500
Land market value
$1,886,500
Improvement market value
$3,118,500
Total market value
$5,005,000
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
Off-Market
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
YES
Buildings
2
Stories
1
Total area
5,118 SF
Lot
1.43 ac (62,465 SF)
APN
7045000317
UPID
US90-2957687
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Lot
1.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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.
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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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