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    Property profile & analytics

    4009 56th St Tacoma, WA 98409-2609

    • Retail space
    • 7,200 SF
    • 3.31 lot acres
    OFF-MARKET
    Value Estimations
    $1,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1205705
    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

    • St. Vincent de Paul Thrift Store / Charitable Organization / Social Service Agency

    Property Details for 4009 56th St

    Year built
    1957
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.31 lot acres
    Property size
    7,200 SF
    Zone code
    M2
    Property type
    Retail space
    APN
    4695000780
    APU
    4695000780

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,445,000
      6.5%
      $1,335,000
      7%
      $1,240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,363,000
      Market price range: $457k - $1.36M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,495,000
      Current use
      COMMERCIAL (GENERAL)
      $1,920,000
      Change: +28% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,895,000
      Change: +27% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,840,000
      Change: +23% Conversion: Difficult
      MEDICAL BUILDING
      $1,760,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.491
    Latitude
    47.2072
    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
    $12
    $2,548,300
    $222,200
    $2,770,500
    -
    $2,548,300
    $222,200
    $2,770,500

    Comparable in this City

    • Value Estimation
      $3,795,000
      22,790 SF

      6228 Tacoma Mall Blvd

      RETAIL STORES (PERSONAL SERVICES) • 22,790 SF
      6228 Tacoma Mall Blvd, Tacoma, WA 98409-6827
      View Details
    • Value Estimation
      $1,140,000
      7,996 SF

      2218 41st St

      RETAIL STORES (PERSONAL SERVICES) • 7,996 SF
      2218 41st St, Lakewood, WA 98409-7214
      View Details
    • Value Estimation by Request
      1,512 SF

      4508 Pne St

      RETAIL STORES (PERSONAL SERVICES) • 1,512 SF
      4508 Pne St, Tacoma, WA 98409-6527
      View Details
    • Value Estimation by Request
      2,516 SF

      2215 Railroad St

      RETAIL STORES (PERSONAL SERVICES) • 2,516 SF
      2215 Railroad St, Tacoma, WA 98409-7055
      View Details
    • Value Estimation
      $1,080,000
      7,628 SF

      1526 Riv Rd, Unit 5

      RETAIL STORES (PERSONAL SERVICES) • 7,628 SF
      1526 Riv Rd, Tacoma, WA 98409
      View Details
    • Value Estimation by Request
      2,707 SF

      4010 Steele St

      RETAIL STORES (PERSONAL SERVICES) • 2,707 SF
      4010 Steele St, Tacoma, WA 98409-7336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,936 SF

      Mixed-Use Retail and Multifamily Property

      Mixed-use property featuring retail spaces and multifamily units.
      8201 S Tacoma Way, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Tacoma Mall Retail Opportunity

      Three-story, 2,707 SF building near Tacoma Mall entrance.
      4010 S Steele St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      South Tacoma Way Retail Warehouse

      Freestanding retail warehouse with I-502 zoning and high visibility.
      3201 South Tacoma Way, Tacoma, WA 98409
      View Details
    • Contact for pricing
      2,445 SF

      Tacoma Commercial Building For Sale

      2,445 SF commercial building in Tacoma's Manitou neighborhood.
      3502 S 74Th St, Tacoma, WA 98409
      View Details
    • $4,750,000

      Standalone Flex Building For Sale

      Flex building with heavy power, prominent signage, and convenient location.
      4901 Center St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      South Tacoma Way Retail Warehouse

      4,960 SF retail warehouse with I-502 zoning and visibility.
      3201 South Tacoma Way, Tacoma, WA 98409
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      4,430 SF

      Tacoma Mall Blvd Retail Space

      Retail space available on Tacoma Mall Blvd.
      5825-6001 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • Contact for pricing
      2,604 SF

      Retail Space in Tacoma, WA

      Retail space available for lease in Tacoma, Washington.
      5006 Center St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Olympic South

      Retail space with open floor plan and excellent signage.
      5825 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Retail Space Near Highway 16

      Retail space with high visibility and easy highway access.
      4702-4720 Center St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      5,400 SF

      Tacoma Retail/Flex Space Available

      Retail/Flex space available for lease in Tacoma, Washington.
      3630-3680 S Cedar St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      10,408 SF

      Tacoma Retail Space For Lease

      Retail space available for lease in Tacoma, Washington.
      3702-3702 South Fife St, Tacoma, WA 98409
      View Details
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    Tacoma, WA 98409-2609
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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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