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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Office Spaces
3623 12th St Tacoma, WA 98405-2133
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-2979870
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,657 SF
Lot
0.11 ac (4,850 SF)
Zoning code
T
APN
4130003080
UPID
US90-2979870
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
-
the law office of mark w. watson, ps Law Firm
-
Watson & Gallagher Law Offices Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$507k
Blend (final)
Blend
$615k
Owner & transaction history
4 Palms LLC · 1 yrs held
4 Palms LLC
since 2024
Last sale
$612,500
7 recorded transactions
Zoning & alternative use
T · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$705,000
+91.3%
Auto repair, garage
$610,000
+66.6%
Retail stores
$500,000
+36.2%
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
$615,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$705,000
Change: +91% · Conversion: Difficult
AUTO REPAIR, GARAGE
$610,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$500,000
Change: +36% · Conversion: Easy
WAREHOUSE, STORAGE
$495,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$405,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $613k (Sep 6 2024)
Last sale anchor
$613k
Sep 6 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
$371 / 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
$4,545
Tax year 2024
Assessed value
$408,200
Assessed 2024
Previous assessed
$408,200
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$124,500
Assessed improvement
$283,700
Land market value
$124,500
Improvement market value
$283,700
Total market value
$408,200
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Total area
1,657 SF
Lot
0.11 ac (4,850 SF)
Zoning code
T
APN
4130003080
UPID
US90-2979870
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
T · Tacoma, WA
Zoning T · permitted uses
T · 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
$705,000
AUTO REPAIR, GARAGE
Est. value
$610,000
RETAIL STORES
Est. value
$500,000
WAREHOUSE, STORAGE
Est. value
$495,000
MEDICAL BUILDING
Est. value
$405,000
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
4 Palms LLC
Entity
Mailing address
7302 S 108TH ST NW, GIG HARBOR, WA 98332-8580
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2024
$612,500
4 Palms LLC
3623 Holdings LLC
Warranty Deed
$784,000 · First Citizens Bank & Trust Co
Jul 17, 2014
—
Mark W Watson
Watson,rene J
Quit Claim Deed
related
—
Jun 3, 2010
$355,000
3623 Holdings LLC
Jra Management LLC
Warranty Deed
$182,500 · Umpqua Bank
Feb 23, 2004
$263,000
Jra Management LLC
Kerhberg,steven C & Pamela D
Warranty Deed
$239,000 · Columbia State Bank
Sep 8, 1995
$188,500
Steven C Kehrberg
Johnson,michael A & Barbara A
Grant Deed
$141,500 · Puyallup Valley Bank
—
—
Jra Management LLC
—
Deed Of Trust
related
$244,556 · Kitsap Bank
—
—
3623 Holdings LLC
—
Deed Of Trust
related
$152,000 · 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.
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