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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Strip malls
2901 38th St Tacoma, WA 98409-5634
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-3060777
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,000 SF
Lot
0.46 ac (19,846 SF)
Zoning code
UCX
APN
9710001012
UPID
US90-3060777
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
-
Emerald City Smoothie Specialty Food Shop (Bike/Boat/Book/etc) Store
-
Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
CPR Cell Phone Repair Tacoma South Computer & Electronic Repair
-
Western Union Bank Credit Union
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
$1.56M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.93M
Owner & transaction history
Realm 21 LLC · 1 yrs held
Realm 21 LLC
since 2024
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
UCX · Tacoma, WA
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
$1,930,000
ML approach
$1,930,000
CAP Approach
CAP Return
Estimation
6%
$1,685,000
6.5%
$1,555,000
7%
$1,445,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,970,000
Current use
AUTO REPAIR, GARAGE
$2,745,000
Change: -8% · Conversion: Difficult
RESTAURANT
$2,740,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10% · vs last sale $1.93M (Oct 28 2024)
Last sale anchor
$1.93M
Oct 28 2024
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
$276 / 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
$21,327
Tax year 2024
Assessed value
$1,919,100
Assessed 2024
Previous assessed
$1,919,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$696,500
Assessed improvement
$1,222,600
Land market value
$696,500
Improvement market value
$1,222,600
Total market value
$1,919,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
7,000 SF
Lot
0.46 ac (19,846 SF)
Zoning code
UCX
APN
9710001012
UPID
US90-3060777
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
UCX · Tacoma, WAZoning UCX · permitted uses
UCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
RESTAURANT
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RESTAURANT
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
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Realm 21 LLC
Entity
Mailing address
801 N G ST, TACOMA, WA 98403-2413
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2024
$1,930,000
Realm 21 LLC
J G Andrew Family LLC
Warranty Deed
$1,876,535 · First Citizens Bank & Trust Co
May 16, 2023
—
J G Andrew Fanily LLC
Sarah Baldwin
Warranty Deed
—
May 22, 2008
—
Sarah Baldwin
Bank Of America NA
Quit Claim Deed
related
—
May 22, 2008
$886,500
J G Andrew Family LLC
Baldwin,sarah
Warranty Deed
—
—
—
Jg Andrew Family LLC
—
Deed Of Trust
related
$493,332 · Bank Of America
—
—
J G Andrew Family LLC
—
Deed Of Trust
related
$740,000 · Bank Of America
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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