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    4704 S Oakes St Tacoma, WA 98409
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    4704 S Oakes St Tacoma, WA 98409

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    • Strip malls
    • 11,866 SF
    • 1.08 lot acres
    For Lease
    $2,070,000
    View Listing →
    Tacoma Mall District Office Space For Lease
    $2,070,000
    2,060 SF

    Tacoma Mall District Office Space

    Office space in the Tacoma Mall District available for lease.

    4704 S Oakes St, Tacoma, WA 98409
    View Listing
    Property ID
    US90-1510015
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Tacoma Shawarma / Restaurant
    • Sean's Anime & Other Things / Department Store
    • Circle K / Grocery & Convenience Store
    • Dr. Yuriy Bagdasarov / Dental Office

    Property Details for 4704 S Oakes St

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.08 lot acres
    Property size
    11,866 SF
    Zone code
    UCX
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    320184019
    APU
    320184019

    Description

    This exceptional 11,866 square foot single-story retail and medical office building, situated on 1.08 acres at 4704 S Oakes St, Tacoma, WA 98409, presents a unique investment opportunity. Built in 1988, the property boasts six suites, with 2,060 square feet currently vacant. The vacant space, previously a dental office, offers significant potential for redevelopment and customization to suit a variety of retail uses. The building is zoned UCX and benefits from ample parking with 40 spaces available for tenants and customers. Its location in the desirable Tacoma Mall District, directly across from the Tacoma Mall, ensures high visibility and accessibility, attracting a substantial customer base. The property's single-story design and convenient layout enhance functionality and accessibility. This is an ideal opportunity for businesses seeking a well-established location with high foot traffic and strong potential for growth. The property's APN is 032018-4-019. Don't miss this chance to secure a prime retail space in a thriving Tacoma location. The available space is 2,060 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,855,000
      6.5%
      $2,635,000
      7%
      $2,445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.473
    Latitude
    47.2142
    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
    $25,874
    $1,767,600
    $560,900
    $2,328,500
    -
    $1,767,600
    $560,900
    $2,328,500

    Comparable in this City

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      View Details
    • Value Estimation
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      2330 37th St

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    • Value Estimation
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      2602 38th St

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      2602 38th St, Tacoma, WA 98409-7303
      View Details
    • Value Estimation
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      25,092 SF

      3121 38th St

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      3121 38th St, Lakewood, WA 98409-5611
      View Details
    • Value Estimation
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      4201 Steele St

      SHOPPING CENTER, STRIP CENTER • 6,737 SF
      4201 Steele St, Lakewood, WA 98409-7467
      View Details
    • Value Estimation
      $895,000
      4,662 SF

      3602 Ctr St

      SHOPPING CENTER, STRIP CENTER • 4,662 SF
      3602 Ctr St, Lakewood, WA 98409-3143
      View Details

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      Tacoma Retail Property For Sale

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      Restaurant/Retail Property in Tacoma, WA

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    Similar Nearby for Lease

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      Retail space with high visibility and easy highway access.
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      Retail space with high visibility and multiple access points.
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      Retail Space Near Tacoma Mall

      High-traffic retail space near Tacoma Mall with strong business presence.
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      Restaurant Space Near Tacoma Mall

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      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.

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