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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2620 Pacific Ave Tacoma, WA 98402-2812

    • Auto shops
    • 5,200 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $2,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0932366
    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.

    Current Use by Public Records

    • PEDERSENS DIRTWORKS / Demolition Contractor / Earth Works Company
    • City Center Collision Services / Auto Repair Shop / Auto Restoration Service

    Property Details for 2620 Pacific Ave

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    5,200 SF
    Zone code
    WR
    Property type
    Auto shops
    APN
    2076120020
    APU
    2076120020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,032,000
      Market price range: $840k - $3.03M
      AI Estimate
      $2,909,000
      Market price range: $603k - $2.91M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,920,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,205,000
      Change: +15% Conversion: Difficult
      RESTAURANT
      $2,035,000
      Change: +6% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.435
    Latitude
    47.2372
    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
    $13,541
    $447,300
    $770,800
    $1,218,100
    -
    $447,300
    $770,800
    $1,218,100

    Comparable in this City

    • Value Estimation
      $1,990,000
      3,485 SF

      6750 Kimball Dr

      AUTO REPAIR, GARAGE • 3,485 SF
      6750 Kimball Dr, Tacoma, WA 98402
      View Details
    • Value Estimation
      $2,400,000
      4,600 SF

      2718 Pacific Ave

      AUTO REPAIR, GARAGE • 4,600 SF
      2718 Pacific Ave, Tacoma, WA 98402-2807
      View Details
    • Value Estimation
      $1,955,000
      3,422 SF

      2501 Pacific Ave

      AUTO REPAIR, GARAGE • 3,422 SF
      2501 Pacific Ave, Tacoma, WA 98402-2809
      View Details
    • Value Estimation
      $1,340,000
      5,388 SF

      1943 Tacoma S Ave

      AUTO REPAIR, GARAGE • 5,388 SF
      1943 Tacoma S Ave, Tacoma, WA 98402-1609
      View Details
    • Value Estimation
      $4,210,000
      18,000 SF

      424 St Helens Ave

      AUTO REPAIR, GARAGE • 18,000 SF
      424 St Helens Ave, Tacoma, WA 98402-2410
      View Details
    • Value Estimation
      $1,810,000
      3,172 SF

      620 Broadway

      AUTO REPAIR, GARAGE • 3,172 SF
      620 Broadway, Tacoma, WA 98402
      View Details

    Similar Nearby for Sale

    • $3,300,000
      23,860 SF

      Mixed-Use Building with Parking

      Two-story office, retail, and warehouse building with parking lot.
      2209-2215 Pacific Ave, Tacoma, WA 98402
      View Details
    • $4,000,000
      51,000 SF

      Tacoma Mixed-Use Investment Opportunity

      Two buildings, 51,000 SF, prime location
      738 Broadway, Tacoma, WA 98402
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    • $3,500,000
      24,000 SF

      Office and Retail Buildings For Sale

      Two renovated buildings: office/retail and parking garage.
      722 Broadway, Tacoma, WA 98402
      View Details
    • $1,950,000
      10,343 SF

      Pacific Avenue Office Building For Sale

      Office building with parking in Tacoma, Washington available for sale.
      711 Pacific Ave, Tacoma, WA 98402
      View Details
    • Contact for pricing

      Downtown Tacoma Opportunity Zone Building

      173,022 SF building with parking in Downtown Tacoma.
      1015 A St, Tacoma, WA 98402
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    • $11,412,000
      69,165 SF

      Tacoma Super Block Development Site

      Premier development site in Tacoma's Financial District.
      1301 Pacific Ave, Tacoma, WA 98402
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    Similar Nearby for Lease

    • $3,000,000
      5,000 SF

      Office and Retail Building

      Four-story office/retail building and parking garage in Tacoma, WA.
      722-738 Broadway, Tacoma, WA 98402
      View Details
    • $17 SF/Yr
      6,732 SF

      Downtown Tacoma Retail Space

      Prime Tacoma location, multiple suites available.
      901 Pacific Ave, Tacoma, WA 98402
      View Details
    • Contact for pricing
      1,548 SF

      Tacoma Retail Space Available

      Retail space available for lease in Tacoma, Washington.
      1702-1936 Pacific Ave, Tacoma, WA 98402
      View Details
    • $700 /Mo
      350 SF

      Downtown Tacoma Retail Space Available

      Functional retail space in downtown Tacoma with ample parking.
      760-764 Broadway, Tacoma, WA 98402
      View Details
    • $16 SF/Yr
      74,360 SF

      Downtown Tacoma Office Space

      Historic building, diverse office suites, prime location.
      917 Pacific Ave, Tacoma, WA 98402
      View Details
    • $15 SF/Yr
      10,550 SF

      Tacoma Brewery & Restaurant Space

      Historic building, fully renovated, prime location.
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
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    2620 Pacific Ave
    Tacoma, WA 98402-2812
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    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
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