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

    2702 21st St, Unit 2706 Tacoma, WA 98406-7520

    • Retail space
    • 3,320 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    9.2%
    Retail space
    Location Intelligence
    Property ID
    US90-1366545
    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

    • Sierra With The Scissors / Hair Salon
    • Bush Baby Lashes / Eyelash Salon
    • HAIRCOUTURE By Madeline Clark / Hair Salon
    • Willow Salon & Spa / Hair Salon / Day Spa

    Property Details for 2702 21st St

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    0.19 lot acres
    Property size
    3,320 SF
    Zone code
    C1
    Property type
    Retail space
    APN
    2745005121
    APU
    2745005121

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $435,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $665,000
      6.5%
      $615,000
      7%
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $505,000
      Market price range: $257k - $916k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,005,000
      Current use
      WAREHOUSE, STORAGE
      $995,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $810,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.472
    Latitude
    47.2673
    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
    $7,976
    $346,500
    $370,600
    $717,100
    -
    $346,500
    $370,600
    $717,100

    Comparable in this City

    • Value Estimation by Request
      352 SF

      5601 11th St

      RETAIL STORES (PERSONAL SERVICES) • 352 SF
      5601 11th St, Tacoma, WA 98406
      View Details
    • Value Estimation by Request
      177 SF

      2615 21st St

      RETAIL STORES (PERSONAL SERVICES) • 177 SF
      2615 21st St, Tacoma, WA 98406-7517
      View Details
    • Value Estimation
      $6,675,000
      36,081 SF

      5915 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 36,081 SF
      5915 6th Ave, Tacoma, WA 98406-2015
      View Details
    • Value Estimation
      $2,655,000
      12,542 SF

      3601 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,542 SF
      3601 6th Ave, Tacoma, WA 98406-5405
      View Details
    • Value Estimation
      $3,365,000
      13,378 SF

      4315 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,378 SF
      4315 6th Ave, Tacoma, WA 98406-4014
      View Details
    • Value Estimation
      $1,800,000
      4,800 SF

      5942 6th Ave, Unit 44

      RETAIL STORES (PERSONAL SERVICES) • 4,800 SF
      5942 6th Ave, Tacoma, WA 98406-2016
      View Details

    Similar Nearby for Sale

    • $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
    • $5,000,000
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      Tacoma Planet Fitness NNN Lease

      Prime retail investment; strong tenant.
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    • $1,100,000
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      Mixed-Use Property in 6th Avenue

      Retail space with apartments in a vibrant, walkable neighborhood.
      3825 6Th Ave, Tacoma, WA 98406
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    • $1,350,000
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      Renovated retail tap house on Tacoma’s vibrant 6th Avenue.
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      Charming 1917 brick building in North Tacoma's Three Bridges District.
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    • Contact for pricing
      5,000 SF

      Tacoma Retail/Office Building on 6th

      Retail/office building on 6th Avenue, close to University of Puget Sound.
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    Similar Nearby for Lease

    • $38 SF/Yr
      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
    • $1,300 /Mo
      600 SF

      Retail Space on 6th Avenue

      Retail space for rent in a great location.
      3701 6Th Ave, Tacoma, WA 98406
      View Details
    • $24 SF/Yr
      3,787 SF

      Retail Space in Tacoma

      Retail space with great access, parking, and signage.
      5401 6Th Ave, Tacoma, WA 98406
      View Details
    • $28 SF/Yr
      1,364 SF

      Prime Retail Space on 6th

      High-visibility retail space in active Tacoma commercial corridor.
      3602 6Th Ave, Tacoma, WA 98406
      View Details
    • $20 SF/Yr
      5,000 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
    • $30 SF/Yr
      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
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    Tacoma, WA 98406-7520
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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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