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Property profile & analytics
OFF-MARKET
Estimated value
$10,775,000
Medical Office Space
3602 19th St, Tacoma, WA 98405-1919
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-3308024
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,853 SF
Lot
0.35 ac (15,093 SF)
Zoning code
R4L
APN
220121010
UPID
US90-3308024
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
-
Pacific Northwest Eye Associates Medical Clinic Ophthalmologist
-
Pacific Northwest Eye Associates: Dr. Joseph T. Pham, MD Ophthalmologist
-
Dr. Niraj Patel, MD Ophthalmologist
-
Dr. Victor W. Chiu Ophthalmologist
-
Mark Taylor Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.78M
Owner & transaction history
Hr Acquisition I Corp · 5 yrs held
Hr Acquisition I Corp
since 2020
Last sale
$11.0M
7 recorded transactions
Zoning & alternative use
R4L · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$9.3M
+73.3%
Restaurant
$8.6M
+60.0%
Auto repair, garage
$8.1M
+50.9%
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
$10,780,000
ML approach
$10,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$9,270,000
Change: +73% · Conversion: Difficult
RESTAURANT
$8,555,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,070,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$6,600,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,550,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$10.78M
Range $9.70M – $11.85M · ±10% · vs last sale $11.03M (Jul 23 2020)
Last sale anchor
$11.03M
Jul 23 2020
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
$493 / 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
$47,057
Tax year 2024
Assessed value
$4,235,700
Assessed 2024
Previous assessed
$4,235,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$478,900
Assessed improvement
$3,756,800
Land market value
$478,900
Improvement market value
$3,756,800
Total market value
$4,235,700
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Bathrooms
1
Total area
21,853 SF
Lot
0.35 ac (15,093 SF)
Zoning code
R4L
APN
220121010
UPID
US90-3308024
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R4L · Tacoma, WA
Zoning R4L · permitted uses
R4L · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.3M
RESTAURANT
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$8.1M
RETAIL STORES
Est. value
$6.6M
WAREHOUSE, STORAGE
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Hr Acquisition I Corp
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2020
—
Hr Acquisition I Corp
Northwest Eye Investors LLC
Grant Deed
—
Dec 16, 2019
—
Northwest Eye Investors LLC
—
Deed
related
$4,802,292 · Heritage Bank
Jan 31, 2012
—
Northwest Eye Investors LLC
—
Deed Of Trust
related
$4,050,000 · Heritage Bank
Jun 8, 2010
$1,700,000
Northwest Eye Investors LLC
Tacoma Housing Group LLC
Warranty Deed
$1,850,000 · Heritage Bank
Sep 12, 2006
$625,000
Tacoma Housing Group LLC
Diru Properties LLC
Warranty Deed
$600,000 · Diru Properties LLC
Apr 3, 2002
—
Diru Properties LLC
Cook,richard E & Ruth E
Quit Claim Deed
related
—
—
—
Northwest Eye Investors LLC
—
Deed Of Trust
related
$3,316,000 · Ameritrust Cdc
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.
Try Rey
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