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Property profile & analytics
FOR SALE
Flex space
4520 S Adams St Tacoma, WA 98409
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0029910
For Sale
$5,100,000
4520 S Adams St, Tacoma, WA 98409
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,793 SF
Lot
0.86 ac (37,625 SF)
Zoning code
M2
APN
5160000200
UPID
US90-0029910
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.30M
Blend (final)
Blend
$2.64M
Owner & transaction history
Dennis Street LLC · 6 yrs held
Dennis Street LLC
since 2020
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
M2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,660,000
ML approach
$2,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.64M
Range $2.37M – $2.90M · ±10% · vs last sale $2.29M (Jun 15 2020)
Last sale anchor
$2.29M
Jun 15 2020
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
$106 / 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
$19,399
Tax year 2024
Assessed value
$1,745,500
Assessed 2024
Previous assessed
$1,745,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$554,600
Assessed improvement
$1,190,900
Land market value
$554,600
Improvement market value
$1,190,900
Total market value
$1,745,500
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Sale
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
24,793 SF
Lot
0.86 ac (37,625 SF)
Zoning code
M2
APN
5160000200
UPID
US90-0029910
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M2 · Tacoma, WA
Zoning M2 · permitted uses
M2 · 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.
Building & site characteristics
From public records
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.86 ac
Current owner
From public records · entity-resolved
Dennis Street LLC
Entity
Mailing address
PO BOX 64989, TACOMA, WA 98464-0989
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2020
$2,285,000
Dennis Street LLC
Belco LLC
Warranty Deed
$1,799,115 · Timberland Bank
Sep 24, 2003
$850,000
Belco LLC
Idg USA LLC
Grant Deed
$820,000 · Key Bank NA
Jan 30, 1991
$796,500
B & J Industrial Supply Co
Unknown
Grant Deed
$597,375 · Seattle-first National Bank
—
—
Belco LLC
—
Deed Of Trust
related
$2,700,000 · Key Bank NA
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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