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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4515 6th Ave Tacoma, WA 98406-3516

    • Apartment buildings
    • 4,608 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2022
    $1,950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1927874
    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

    • Apartment buildings

    Property Details for 4515 6th Ave

    Year built
    2021
    Lot size
    0.14 lot acres
    Property size
    4,608 SF
    Property type
    Apartment buildings
    APN
    3900000923
    APU
    3900000923

    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
    -122.499
    Latitude
    47.2556
    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
    $20,662
    $324,000
    $1,535,200
    $1,859,200
    -
    $324,000
    $1,535,200
    $1,859,200

    Comparable in this City

    • Value Estimation by Request
      1,568 SF

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    • Value Estimation
      $1,845,000
      18,783 SF

      601 Jackson Ave

      APARTMENT HOUSE (5+ UNITS) • 18,783 SF
      601 Jackson Ave, Tacoma, WA 98406-1001
      View Details
    • Value Estimation
      $810,000
      4,800 SF

      5930 6th Ave

      APARTMENT HOUSE (5+ UNITS) • 4,800 SF
      5930 6th Ave, Tacoma, WA 98406-2033
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    • Value Estimation
      $1,170,000
      7,668 SF

      7302 6th Ave

      APARTMENT HOUSE (5+ UNITS) • 7,668 SF
      7302 6th Ave, Tacoma, WA 98406-1222
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    • Value Estimation by Request
      2,602 SF

      627 Anderson St

      APARTMENT HOUSE (5+ UNITS) • 2,602 SF
      627 Anderson St, Tacoma, WA 98406-6739
      View Details
    • Value Estimation
      $1,860,000
      14,162 SF

      2910 7th St

      APARTMENT HOUSE (5+ UNITS) • 14,162 SF
      2910 7th St, Tacoma, WA 98406-6737
      View Details

    Similar Nearby for Sale

    • $320,000
      1,177 SF

      Condo with Community Amenities

      Three-bedroom condo with pool, tennis courts, and enclosed patio.
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    • $1,100,000
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      Mixed-Use Property in 6th Avenue

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    • $1,300,000
      4,344 SF

      North Tacoma Mixed-Use Building

      Mixed-use building in North Tacoma with apartments and commercial spaces.
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    • $695,000
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      Freestanding Building in 6th Ave District

      1,534 SF building on 6,000 SF lot in Tacoma.
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    • $5,000,000

      Planet Fitness in Westgate South

      22,336 SF single tenant Planet Fitness in Tacoma, Washington.
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      Mixed-Use Retail and Apartments

      Retail space with apartments and storage in vibrant 6th Avenue.
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    Similar Nearby for Lease

    • $20 SF/Yr
      5,000 SF

      Mixed-Use Space in Tacoma

      5,000 SF space suitable for office or retail use.
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    • $0.16 SF/Yr

      Industrial Land For Lease

      Industrial land zoned for Heavy Manufacturing in Tacoma.
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    • $30 SF/Yr
      1,000 SF

      Retail Space in Proctor District

      Retail space available in Tacoma's vibrant Proctor District.
      2315 N Pearl St, Tacoma, WA 98406
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    • $30 SF/Yr
      2,370 SF

      Office Space with Private Offices

      Office space featuring private offices, conference room, and break room.
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    • $20 SF/Yr
      3,874 SF

      Class A Office Building

      Class A office building with professional management and landscaping.
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    • Contact for pricing
      6,720 SF

      Restaurant/Bar Space in Tacoma

      Fully equipped restaurant/bar in Tacoma's North End for lease.
      2207 North Pearl St, Tacoma, WA 98406
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    4515 6th Ave
    Tacoma, WA 98406-3516
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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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