New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Flex space
5121 Burlington Waya Tacoma, WA 98409-2805
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-3301398
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2005
Construction
STEEL FRAME
Total area
13,080 SF
Lot
0.94 ac (41,082 SF)
Zoning code
M2
APN
9005940010
UPID
US90-3301398
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
by Request
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$2.11M
Owner & transaction history
5121 Burlington LLC · 20 yrs held
5121 Burlington LLC
since 2005
1 recorded transaction
Zoning & alternative use
M2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+20.7%
Warehouse, storage
$3.4M
+19.1%
Apartment house (5+ units)
$3.3M
+15.5%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,335,000
6.5%
$2,155,000
7%
$2,000,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,890,000
Current use
COMMERCIAL (GENERAL)
$3,490,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,445,000
Change: +19% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,340,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$3,200,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±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
$161 / 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
$24,823
Tax year 2024
Assessed value
$2,233,900
Assessed 2024
Previous assessed
$2,233,900
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$641,700
Assessed improvement
$1,592,200
Land market value
$641,700
Improvement market value
$1,592,200
Total market value
$2,233,900
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
Off-Market
Year built
2005
Construction
STEEL FRAME
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Total area
13,080 SF
Lot
0.94 ac (41,082 SF)
Zoning code
M2
APN
9005940010
UPID
US90-3301398
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.2M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
2005
Construction
STEEL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.94 ac
Current owner
From public records · entity-resolved
5121 Burlington LLC
Entity
Mailing address
5121 S BURLINGTON WAY, TACOMA, WA 98409-2805
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2005
$1,256,386
5121 Burlington LLC
Burlington Way LLC
Warranty Deed
$1,012,500 · Columbia State 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5121 Burlington Waya?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
