Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3481 35th St Tacoma, WA 98409-4702
    Back to Search
    Property profile & analytics

    3481 35th St, Tacoma, WA 98409-4702

    View on Map
    • Industrial land
    • 49,036 SF
    • 2.53 lot acres
    Off-Market
    Last Sale Sep 13, 2022
    $11,500,000
    Property ID
    US90-2775576
    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.
    Value Estimations
    $11,420,000
    Show details
    Cap Rate Potential
    4.7%
    Industrial land
    Location Intelligence

    Current Use by Public Records

    • V. Van Dyke, Inc. / Trucking Company

    Property Details for 3481 35th St

    Year built
    1950
    Construction
    STEEL FRAME
    Lot size
    2.53 lot acres
    Property type
    Industrial land
    APN
    320077007
    APU
    320077007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 12, 2023 — Muckle Properties LLC — Deed · related $750k · Umpqua Bank
    Sep 13, 2022 $11,500,000 Muckle Properties LLC Cref3 Nalley Valley Owner LLC Bargain And Sale Deed $9.8M · Columbia State Bank
    Mar 16, 2022 — Cref3 Nalley Valley Owner LLC — Deed · related $250M · Deutsche Bank
    Feb 11, 2022 $7,000,015 Cref3 Nalley Valley Owner LLC Puget Sound Industrial LLC Warranty Deed —
    Nov 8, 2018 — Puget Sound Industrial LLC — Grant Deed · related $2M · Washington Tr Bk
    May 20, 2014 — Puget Sound Industrial LLC Birds Eye Foods LLC Grant Deed · related —
    Jul 22, 2013 $5,500,000 Puget Sound Industrial LLC Birds Eye Foods LLC Grant Deed —
    — — Puget Sound Industrial LLC — Deed Of Trust · related $1.5M · Miscellaneous Ins Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,145,000
      ML approach
      $11,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,750,000
      6.5%
      $8,075,000
      7%
      $7,500,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $10,840,000
      Current use
      COMMERCIAL (GENERAL)
      $13,085,000
      Change: +21% Conversion: Difficult
      WAREHOUSE, STORAGE
      $12,910,000
      Change: +19% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $12,520,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $12,000,000
      Change: +11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.482
    Latitude
    47.2291
    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
    $10,572
    $950,800
    $0.00
    $950,800
    -
    $950,800
    $0.00
    $950,800

    Comparable in this City

    • Value Estimation by Request
      0.67 Acres

      6709 Adams St

      INDUSTRIAL - VACANT LAND
      6709 Adams St, Lakewood, WA 98409-2427
      View Details
    • Value Estimation by Request
      0.43 Acres

      4130 Adams St, Unit 22441

      INDUSTRIAL - VACANT LAND
      4130 Adams St, Tacoma, WA 98409
      View Details
    • Value Estimation by Request
      0.20 Acres

      3024 Alaska St

      INDUSTRIAL - VACANT LAND
      3024 Alaska St, Tacoma, WA 98409-7807
      View Details
    • Value Estimation by Request
      0.33 Acres

      2709 Ash St

      INDUSTRIAL - VACANT LAND
      2709 Ash St, Tacoma, WA 98409-7850
      View Details
    • Value Estimation by Request
      4.77 Acres

      124th E St

      INDUSTRIAL - VACANT LAND
      124th E St, Tacoma, WA 98409
      View Details
    • Value Estimation by Request
      0.86 Acres

      2121 80th St

      INDUSTRIAL - VACANT LAND
      2121 80th St, Tacoma, WA 98409-8439
      View Details

    Similar Nearby for Sale

    • $3,575,000
      22,291 SF

      Established Tacoma Office Asset

      Well-located office building with development potential.
      3906 S 74Th St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Tacoma Industrial Development Opportunity

      Versatile lot in Tacoma's industrial corridor with development potential.
      3525 South Cedar St, Tacoma, WA 98409
      View Details
    • $620,000
      24,829 SF

      High-Visibility Land in Commercial Corridor

      Land with exceptional visibility and convenience in a high-traffic area.
      4810 Center St, Tacoma, WA 98409
      View Details
    • $350,000
      2.81 Acres

      Multifamily Land in South Tacoma

      2.81 acres for multifamily development in Tacoma, WA.
      6016 S Tyler St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      4326 S Union Ave, Tacoma, WA 98409
      View Details
    • $6,020,000

      Multifamily Site Adjacent to Tacoma Mall

      187,067 SF land for 172+ unit multifamily development.
      2520 41St St, Tacoma, WA 98409
      View Details

    Similar Nearby for Lease

    • $12,894 /Mo
      80,586 SF

      Tacoma Industrial Land For Lease

      Industrial land available for lease in Tacoma, Washington.
      6245 Adams St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Industrial Land For Lease

      Industrial land zoned for Heavy Manufacturing in Tacoma.
      6245 S Adams St, Tacoma, WA 98409
      View Details
    • $3,333 /Mo
      2,000 SF

      Retail Space Near Tacoma Mall

      Retail space for lease near Tacoma Mall with excellent parking.
      2921 38Th St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      4,294 SF

      Tacoma Mall Blvd Office Space

      Office space with I-5 visibility and easy access.
      6704 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • $31,500
      21,000 SF

      Office Space Available For Rent

      Office space available for rent in Tacoma, Washington.
      3901 Fife St, Tacoma, WA 98409
      View Details
    • $7,821 /Mo
      4,469 SF

      Class A Office Space Available

      4,469 SF office space near Tacoma Mall, available now.
      6050 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3481 35th St
    Tacoma, WA 98409-4702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3481 35th St, Tacoma, WA, 98409
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!