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    Property profile & analytics

    3906 74Th St, Unit Tacoma Tacoma, WA 98409

    • Office buildings
    • 22,291 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0328604
    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.

    Current Use by Public Records

    • Mc Ferran University Inc / University / Association / Organization
    • Farmers Insurance - Ilya Duloglo / Life Insurance Agency / Motorcycle Insurance Agency
    • Amy Harrison # 118904 / Mortgage Broker
    • Barb Rock LLC / Religious Organization
    • Café Elite / Coffee Stand

    Property Details for 3906 74Th St

    Year built
    1995
    Property size
    22,291 SF
    Property type
    Office buildings
    Property subtype
    Parking lots & garages

    Description

    We are pleased to present 74th Street Plaza,a well-established office asset located in the heart of Tacoma. Situated at the corner of South 74th Street and South Madison Street, the property offers exceptional visibility and access, with daily traffic counts exceeding 23,000 vehicles.This 22,291-square-foot building is comprised of 11 suites, including a 6,488-square-foot vacancy ideal for a potential owner-occupant. The property features recent suite renovations, strong in-place tenancy, proximity to a wide range of retail and service amenities and convenient access to I-5. The property generates $168,787 of annual net operating income, greatly offsetting an owneroccupant’s debt service.The Offering features an exceptional 7.58/1,000 SF parking ratio, supported by 169 dedicated stalls

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.4891753
    Latitude
    47.189917

    Comparable in this City

    • $199,000

      Downtown Tacoma Commercial Parcel

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      611 E 27Th St, Tacoma, WA 98409
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    • $549,950

      Updated Office Building Near Highway

      Standalone office building with modern updates and ample parking.
      3108 Union Ave South, Tacoma, WA 98409
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    • $3,575,000
      22,291 SF

      Tacoma Office Asset with Development Potential

      Established office building with vacancy and additional 1.1-acre parcel.
      3906 S 74Th St, Tacoma, WA 98409
      View Details
    • $499,000

      Updated Office Building Near Highway

      Standalone office building with modern updates and ample parking.
      3108 S Union Ave, Tacoma, WA 98409
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    • $4,750,000
      23,654 SF

      Standalone Flex Building For Sale

      Flex building with heavy power, prominent signage, and convenient location.
      4901 Center St, Tacoma, WA 98409
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    • $5,950,000
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      Mixed-Use Property in Opportunity Zone

      Mixed-use property with warehouse, retail, and office spaces for sale.
      3802 S Cedar St, Tacoma, WA 98409
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    Similar Nearby for Sale

    • $199,000

      Downtown Tacoma Commercial Parcel

      14,000 sq ft commercial parcel in Tacoma's event hub.
      611 E 27Th St, Tacoma, WA 98409
      View Details
    • $3,575,000
      22,291 SF

      Tacoma Office Asset with Development Potential

      Established office building with vacancy and additional 1.1-acre parcel.
      3906 S 74Th St, Tacoma, WA 98409
      View Details
    • $499,000

      Updated Office Building Near Highway

      Standalone office building with modern updates and ample parking.
      3108 S Union Ave, Tacoma, WA 98409
      View Details
    • $549,950

      Updated Office Building Near Highway

      Standalone office building with modern updates and ample parking.
      3108 Union Ave South, Tacoma, WA 98409
      View Details
    • $4,750,000
      23,654 SF

      Standalone Flex Building For Sale

      Flex building with heavy power, prominent signage, and convenient location.
      4901 Center St, Tacoma, WA 98409
      View Details
    • $5,950,000
      19,133 SF

      Mixed-Use Property in Opportunity Zone

      Mixed-use property with warehouse, retail, and office spaces for sale.
      3802 S Cedar St, Tacoma, WA 98409
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
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      Class A Office Space Available

      Modern office spaces near Tacoma Mall with easy freeway access.
      2702 S 42Nd St, Tacoma, WA 98409
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    • $550 /Mo
      217 SF

      Tacoma Mall Adjacent Office Space

      Seven-story office building near shops, restaurants, and major highways.
      4301 S Pine St, Tacoma, WA 98409
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    • $14 SF/Yr
      2,700 SF

      Freestanding Tacoma Office For Rent

      Freestanding office with great visibility and central location.
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    • $24 SF/Yr
      118,183 SF

      Tacoma Mall Adjacent Office Building

      Seven-story office building near Tacoma Mall with excellent access.
      4301 S Pine St, Tacoma, WA 98409
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    • $21 SF/Yr
      73,984 SF

      Tacoma Office & Industrial Space

      Versatile Tacoma property, multiple spaces available
      3630 Cedar St, Tacoma, WA 98409
      View Details
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    Tacoma, WA 98409
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    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
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