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Property profile & analytics
OFF-MARKET
Estimated value
$1,990,000
Office Spaces
3502 12th St Tacoma, WA 98405-2279
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-0957079
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1978
Construction
WOOD FRAME
Total area
10,288 SF
Lot
0.4 ac (17,400 SF)
Zoning code
C1
APN
3175200081
UPID
US90-0957079
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
-
Sound Movement Arts Center Training Center
-
Dr. Mehmet Millik, MD Physician
-
Community Counseling Institute Medical Clinic
-
Tacoma Medical Associates Medical Clinic
-
ValliDRESS. Custom Gowns & Bridal Alterations, By Appointment (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.19M
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$1.99M
Owner & transaction history
3502 South 12th Street LLC · 12 yrs held
3502 South 12th Street LLC
since 2014
1 recorded transaction
Zoning & alternative use
C1 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+36.2%
Warehouse, storage
$3.1M
+35.1%
Medical building
$2.5M
+10.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,365,000
6.5%
$2,185,000
7%
$2,030,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,280,000
Current use
RETAIL STORES
$3,105,000
Change: +36% · Conversion: Easy
WAREHOUSE, STORAGE
$3,080,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$2,520,000
Change: +10% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,275,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$1.99M
Range $1.79M – $2.19M · ±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
$193 / 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
$19,994
Tax year 2024
Assessed value
$1,799,100
Assessed 2024
Previous assessed
$1,799,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$409,400
Assessed improvement
$1,389,700
Land market value
$409,400
Improvement market value
$1,389,700
Total market value
$1,799,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1978
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Total area
10,288 SF
Lot
0.4 ac (17,400 SF)
Zoning code
C1
APN
3175200081
UPID
US90-0957079
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Tacoma, WA
Zoning C1 · permitted uses
C1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1978
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
3502 South 12th Street LLC
Entity
Free & Clear · 12 yrs held
Mailing address
2815 WHITE CLOUD AVE NW, GIG HARBOR, WA 98335-7619
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2014
$650,000
3502 South 12th Street LLC
Abolins,ilga
Warranty Deed
—
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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