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Property profile & analytics
OFF-MARKET
Estimated value
$11,395,000
Retail space
31 Montana Ave, Tacoma, WA 98409-7427
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1048850
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
51,478 SF
Lot
3.49 ac (151,981 SF)
Zoning code
UCX
APN
5270000971
UPID
US90-1048850
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
-
Islamic Center of Tacoma Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.00M
CAP Approach
CAP
$9.53M
Comparable Approach
Comparable
$8.87M
Blend (final)
Blend
$11.40M
Owner & transaction history
Qiyam Foundation For Community Dev · 3 yrs held
Qiyam Foundation For Community Dev
since 2022
Last sale
$13.1M
7 recorded transactions
Zoning & alternative use
UCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.7M
+28.5%
Warehouse, storage
$13.6M
+26.8%
Apartment house (5+ units)
$13.1M
+23.0%
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
$12,725,000
ML approach
$11,000,000
CAP Approach
CAP Return
Estimation
6%
$10,325,000
6.5%
$9,530,000
7%
$8,850,000
Alternative Use
Use
Estimation
RETAIL STORES
$10,690,000
Current use
COMMERCIAL (GENERAL)
$13,735,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$13,555,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,145,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$12,600,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$11.40M
Range $10.26M – $12.53M · ±10% · vs last sale $13.13M (Nov 1 2022)
Last sale anchor
$13.13M
Nov 1 2022
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
$75,847
Tax year 2024
Assessed value
$6,827,700
Assessed 2024
Previous assessed
$6,827,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,813,300
Assessed improvement
$4,014,400
Land market value
$2,813,300
Improvement market value
$4,014,400
Total market value
$6,827,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
51,478 SF
Lot
3.49 ac (151,981 SF)
Zoning code
UCX
APN
5270000971
UPID
US90-1048850
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
UCX · Tacoma, WA
Zoning UCX · permitted uses
UCX · 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
$10.7M
COMMERCIAL (GENERAL)
Est. value
$13.7M
WAREHOUSE, STORAGE
Est. value
$13.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.1M
MEDICAL BUILDING
Est. value
$12.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
3.49 ac
Current owner
From public records · entity-resolved
Qiyam Foundation For Community Dev
Individual
Mailing address
31 MONTANA AVE, TACOMA, WA 98409-7427
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2022
$13,130,000
Qiyam Foundation For Community Dev
Fr Washington LLC
Warranty Deed
$5,500,000 · Bank Of Whittier NA
Jun 6, 2017
$4,450,000
Fr Washington LLC
Ms Kearny Ct 1 LLC
Trustees Deed
$7,200,000 · Citibank
Jul 5, 2011
—
Ms Kearny Ct 1 LLC
—
Deed Of Trust
related
$85,265,000 · General Electric Capital Corp
Feb 6, 2007
—
Sa Montana Street Development LLC
Michael R Mastro
Quit Claim Deed
related
$12,500,000 · Chinatrust Bank USA
Jan 24, 2006
—
Mp Lincoln Plaza INC
Mastro,michael R
Grant Deed
—
Jul 20, 2005
—
Michael R Mastro
—
Deed Of Trust
related
$7,500,000 · Banner Bank
May 5, 2005
$3,300,000
Michael R Mastro
Mp Lincoln Plaza INC
Grant Deed
—
May 5, 2005
—
Michael R Mastro
Mastro,linda
Quit Claim Deed
related
—
May 30, 1997
—
Mp Lincoln Plaza INC
Seafirst Bank
Quit Claim Deed
related
—
Jun 30, 1988
$3,707,100
Bell Mstr Southwestern
Unknown
Grant Deed
—
—
—
Sa Montana Street Dev LLC
—
Deed Of Trust
related
$5,078,456 · Michael R Mastro
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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