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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Office Spaces
505 Broadway 400 Tacoma, WA 98402-3929
Individually Owned
6-yr Hold
Property ID
US90-1589285
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,729 SF
Lot
0.02 ac (679 SF)
Zoning code
DR
APN
9009130060
UPID
US90-1589285
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
-
Cornerstone Financial Strategies - Ameriprise Financial Services, LLC Financial Advisor
-
Cornerstone Financial Strategies Financial Advisor
-
Hayes McColloch & Vickerman CPA Group Tax Preparation
-
Michael K Pickles - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Bill Pickles - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$835k
Owner & transaction history
Eugene Sung · 6 yrs held
Eugene Sung
since 2020
Last sale
$795,000
5 recorded transactions
Zoning & alternative use
DR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
DR: Downtown Residential The DR D istrict contains a predominance of mid -rise, higher density, urban residential development, together with places of employment and retail services. The preferred use of the DR District is residential. Retail, office, and educational uses are also allowed. Industrial uses are prohibited. The maximum building height in this d…
Zone name
Downtown Residential
General category
COMMERCIAL
Zone area
245.98 ac
Source
Ordinance Table
Top alternative use upside
Neighborhood: shopping center
$1.2M
+29.2%
Auto repair, garage
$1.0M
+12.5%
Retail stores
$910,000
+1.7%
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
$895,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$895,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,155,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,010,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$910,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $795k (Jan 28 2020)
Last sale anchor
$795k
Jan 28 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
$306 / 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
$8,869
Tax year 2024
Assessed value
$797,500
Assessed 2024
Previous assessed
$797,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$47,900
Assessed improvement
$749,600
Land market value
$47,900
Improvement market value
$749,600
Total market value
$797,500
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Total area
2,729 SF
Lot
0.02 ac (679 SF)
Zoning code
DR
APN
9009130060
UPID
US90-1589285
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DR · Tacoma, WAZoning DR · permitted uses
DR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
DR: Downtown Residential The DR D istrict contains a predominance of mid -rise, higher density, urban residential development, together with places of employment and retail services. The preferred use of the DR District is residential. Retail, office, and educational uses are also allowed. Industrial uses are prohibited. The maximum building height in this district is 90 feet.
Zone name
Downtown Residential
General category
COMMERCIAL
Zone area
245.98 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$895,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$910,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.02 ac
Current owner
From public records · entity-resolved
Eugene Sung
Individual
Mailing address
505 BROADWAY UNIT #400, TACOMA, WA 98402-3929
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2020
$795,000
Eugene Sung
Se S Sung
Quit Claim Deed
$490,000 · Unibank
Nov 18, 2011
—
Gator Real Estate LLC
—
Trustees Deed
related
$225,000 · Pacific Continental Bank
Jul 29, 2011
$412,000
Gator Real Estate LLC
505 Broadway Associates LLC
Grant Deed
$600,000 · Bradley A Berger
—
—
Gator Real Estate LLC
—
Deed Of Trust
related
$510,000 · Pacific Continental Bank
—
—
Gator Real Estate LLC
—
Deed Of Trust
related
$215,000 · Bradley A Berger
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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