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Property profile & analytics
FOR SALE
Retail space
2621 N Proctor St, Tacoma, WA 98407
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-1603578
For Sale
1 / 6
$4,250,000
2621 N Proctor St, Tacoma, WA 98407
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,875 SF
Lot
0.34 ac (14,900 SF)
Zoning code
NCX
APN
7475012240
UPID
US90-1603578
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
-
New Era Cleaners & Laundry (Bike/Boat/Book/etc) Store
-
Tacoma Glass Gallery & Fusing Studio Art Gallery
-
Fuzzy Wuzzy Rug Cleaning Company Car Wash
-
Multicare Mental Health Matters Medical Clinic
-
Graffiti Busters Painting Service Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.52M
Owner & transaction history
2017 Stephenson Properties LLC · 7 yrs held
2017 Stephenson Properties LLC
since 2018
3 recorded transactions
Zoning & alternative use
NCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+2.1%
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%
$1,380,000
6.5%
$1,275,000
7%
$1,180,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,075,000
Current use
COMMERCIAL (GENERAL)
$2,120,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$2,060,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$1,680,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±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
$221 / 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
$24,106
Tax year 2024
Assessed value
$2,169,300
Assessed 2024
Previous assessed
$2,169,300
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,355,500
Assessed improvement
$813,800
Land market value
$1,355,500
Improvement market value
$813,800
Total market value
$2,169,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
6,875 SF
Lot
0.34 ac (14,900 SF)
Zoning code
NCX
APN
7475012240
UPID
US90-1603578
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NCX · Tacoma, WA
Zoning NCX · permitted uses
NCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
2017 Stephenson Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 44975, TACOMA, WA 98448-0975
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2018
—
2017 Stephenson Properties LLC
1995 Stephenson Family LP
Quit Claim Deed
related
—
Oct 10, 2000
—
1995 Stephenson Family LP
Stephenson,cleo H
Quit Claim Deed
related
—
—
—
Cleo N Stephenson
—
Deed Of Trust
related
$250,721 · Columbia State 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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