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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Flex space
2817 Pacific Ave Tacoma, WA 98402-1004
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-1416013
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,388 SF
Lot
0.29 ac (12,500 SF)
Zoning code
WR
APN
2078130020
UPID
US90-1416013
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$500k
Owner & transaction history
1123 St Paul LLC · 12 yrs held
1123 St Paul LLC
since 2014
3 recorded transactions
Zoning & alternative use
WR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
WR: Warehouse Residential District The WR D istrict is intended to consist principally of a mixture of industrial activities and residential buildings in which occupants maintain a business involving industrial activities. The preferred uses of the WR D istrict are industrial located entirely in a building and residential. Retail, educational, office, and go…
Zone name
Warehouse Residential
General category
INDUSTRIAL
Zone area
150.56 ac
Source
Ordinance Table
Top alternative use upside
Medical building
$830,000
+10.7%
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
$325,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$750,000
Current use
MEDICAL BUILDING
$830,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$148 / 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
$10,871
Tax year 2024
Assessed value
$977,700
Assessed 2024
Previous assessed
$977,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$439,700
Assessed improvement
$538,000
Land market value
$439,700
Improvement market value
$538,000
Total market value
$977,700
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Total area
3,388 SF
Lot
0.29 ac (12,500 SF)
Zoning code
WR
APN
2078130020
UPID
US90-1416013
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
WR · Tacoma, WAZoning WR · permitted uses
WR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
WR: Warehouse Residential District The WR D istrict is intended to consist principally of a mixture of industrial activities and residential buildings in which occupants maintain a business involving industrial activities. The preferred uses of the WR D istrict are industrial located entirely in a building and residential. Retail, educational, office, and governmental uses are allowed. The maximum building height in this district is 100 feet. 8 Commercial Zoning Districts Commercial districts are denser zoning districts in the City located outside of the Downtown area. These districts contain a variety of uses ranging from small and large scale office space to hosp itals and light warehousing. The intensity of commercial development depends on the district. Residential uses are also appropriate in all commercial districts. The specific purposes of the Commercial Districts can be found in the Tacoma Municipal Code Section 13.06.200.
Zone name
Warehouse Residential
General category
INDUSTRIAL
Zone area
150.56 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$750,000
MEDICAL BUILDING
Est. value
$830,000
INDUSTRIAL (GENERAL) Current
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
1123 St Paul LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 7557, TACOMA, WA 98417-0557
Ownership since
2014
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
May 27, 2014
$657,500
1123 St Paul LLC
Viking Supply LLC
Warranty Deed
—
Dec 29, 2004
—
Viking Supply LLC
Hokold,oscar T & Olivann
Quit Claim Deed
related
—
Jul 15, 1996
—
Luhr Jensen & Sons INC
Lpd Investment Co
Grant Deed
related
—
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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