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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Office Spaces
2602 Proctor St Tacoma, WA 98407-5250
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-1740496
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1992
Construction
WOOD FRAME
Total area
6,424 SF
Lot
0.4 ac (17,310 SF)
Zoning code
NCX
APN
7475012090
UPID
US90-1740496
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
-
Starbucks Cafe & Coffee Shop
-
Pivotal Forensic Accounting and Audits Accounting Firm Tax Preparation
-
Washington Arbitration Inc Law Firm
-
Megs & Mo Upscale Resale - a consignment shop Discount Store (Bike/Boat/Book/etc) Store
-
OPEIU Local 23 Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.65M
Owner & transaction history
Proctor Square LLC · 7 yrs held
Proctor Square LLC
since 2019
7 recorded transactions
Zoning & alternative use
NCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
NCX: Neighborhood Commercial Mixed-Use District The NCX District provides areas with day-to-day convenience shopping and services at a level that is compatible with the surrounding neighborhood. The distric t is intended to enhance, preserve, and stabilize the neighborhood’s unique character. Retail frontages are generally uninterrupted by driveways and park…
Zone name
Neighborhood Commercial Mixed Use
General category
MIXED_USE
Zone area
242.73 ac
Source
Ordinance Table
Top alternative use upside
Neighborhood: shopping center
$2.7M
+37.6%
Restaurant
$2.5M
+27.0%
Auto repair, garage
$2.4M
+19.8%
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%
$1,480,000
6.5%
$1,365,000
7%
$1,265,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,980,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,725,000
Change: +38% · Conversion: Difficult
RESTAURANT
$2,515,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,375,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$1,940,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$1,925,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±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
$257 / 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
$36,445
Tax year 2024
Assessed value
$3,280,300
Assessed 2024
Previous assessed
$3,280,300
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,705,600
Assessed improvement
$1,574,700
Land market value
$1,705,600
Improvement market value
$1,574,700
Total market value
$3,280,300
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1992
Construction
WOOD FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
4
Total area
6,424 SF
Lot
0.4 ac (17,310 SF)
Zoning code
NCX
APN
7475012090
UPID
US90-1740496
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NCX · Tacoma, WAZoning NCX · permitted uses
NCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
NCX: Neighborhood Commercial Mixed-Use District The NCX District provides areas with day-to-day convenience shopping and services at a level that is compatible with the surrounding neighborhood. The distric t is intended to enhance, preserve, and stabilize the neighborhood’s unique character. Retail frontages are generally uninterrupted by driveways and parking facilities and pedestrian access and street amenities are encouraged. The standard building heigh t in this district is 45 feet; additional height can be achieved through the bonus program.
Zone name
Neighborhood Commercial Mixed Use
General category
MIXED_USE
Zone area
242.73 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1992
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
4
Lot
0.4 ac
Current owner
From public records · entity-resolved
Proctor Square LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1201 PACIFIC AVE STE #1400, TACOMA, WA 98402-4322
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2019
—
Proctor Square LLC
—
Deed
related
—
Mar 29, 2019
—
Proctor Square LLC
Proctor Partners
Quit Claim Deed
related
—
Dec 6, 1990
$235,000
Proctor Partners
Unknown
Grant Deed
—
—
—
Proctor Square LLC
—
Loan Modification
related
—
—
—
Proctor Partners
—
Deed Of Trust
related
$1,001,375 · Heritage Bank
—
—
Proctor Square LLC
—
Loan Modification
related
—
—
—
Proctor Partners
—
Deed Of Trust
related
$450,000 · Heritage Savings Bank Fsb
—
—
Proctor Partners
—
Deed Of Trust
related
$1,500,000 · Heritage Bank
—
—
Proctor Partners
—
Deed Of Trust
related
$900,000 · Seattle-first National Bank
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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