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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Apartment buildings
4301 Norpoint NE Way, Tacoma, WA 98422-1574
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US90-0957058
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1999
Construction
WOOD FRAME
Total area
4,368 SF
Lot
7.5 ac (326,700 SF)
Zoning code
R3
APN
321154012
UPID
US90-0957058
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
-
Norpoint Village Retirement Community
-
Kaiser Frazer Owners Club International Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.03M
CAP Approach
CAP
$770k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$970k
Owner & transaction history
Stephen R Anderson · 24 yrs held
Stephen R Anderson
since 2002
7 recorded transactions
Zoning & alternative use
R3 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+78.3%
Retail stores
$1.3M
+45.8%
Warehouse, storage
$1.3M
+44.7%
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
$1,025,000
CAP Approach
CAP Return
Estimation
6%
$835,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$905,000
Current use
AUTO REPAIR, GARAGE
$1,615,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$1,320,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,310,000
Change: +45% · Conversion: Difficult
MEDICAL BUILDING
$1,070,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$222 / 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
$231,809
Tax year 2024
Assessed value
$20,869,500
Assessed 2024
Previous assessed
$20,869,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$6,139,200
Assessed improvement
$14,730,300
Land market value
$6,139,200
Improvement market value
$14,730,300
Total market value
$20,869,500
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1999
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
24
Stories
1
Units
4
Total area
4,368 SF
Lot
7.5 ac (326,700 SF)
Zoning code
R3
APN
321154012
UPID
US90-0957058
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R3 · Tacoma, WA
Zoning R3 · permitted uses
R3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
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
1999
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
24
Units
4
Lot
7.5 ac
Current owner
From public records · entity-resolved
Stephen R Anderson
Individual
Mailing address
PO BOX 875, TACOMA, WA 98401-0875
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2018
—
Norpoint Village LLC
—
Deed
related
$9,640,300 · Homestreet Bank
May 31, 2002
—
Stephen R Anderson
Washington Street Investments
Quit Claim Deed
related
—
Oct 26, 1993
$1,400,000
Lowe Tristate INC
Northwest Ent
Grant Deed
—
Aug 30, 1990
$244,963
Northwest Enterprises
Unknown
Grant Deed
—
—
—
Norpoint Village LLC
—
Deed Of Trust
related
$6,430,000 · West Coast Bank
—
—
Norpoint Village LLC
—
Deed Of Trust
related
$551,000 · Homestreet Bank
—
—
Norpoint Village LLC
—
Deed Of Trust
related
$6,712,000 · Homestreet Bank
—
—
Norpoint Village LLC
—
Deed Of Trust
related
$6,501,000 · Homestreet Bank
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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