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    Property profile & analytics

    5131 6th Ave Tacoma, WA 98406-2601

    • Auto shops
    • 4,484 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    $2,560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3369450
    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

    • Les Schwab Tire Center / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 5131 6th Ave

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    4,484 SF
    Zone code
    C2
    Property type
    Auto shops
    APN
    220021014
    APU
    220021014

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,614,000
      Market price range: $725k - $2.61M
      AI Estimate
      $2,508,000
      Market price range: $520k - $2.51M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,655,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,900,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.508
    Latitude
    47.2557
    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
    $17,302
    $1,058,500
    $498,200
    $1,556,700
    -
    $1,058,500
    $498,200
    $1,556,700

    Comparable in this City

    • Value Estimation
      $3,525,000
      6,480 SF

      4408 6th Ave

      AUTO REPAIR, GARAGE • 6,480 SF
      4408 6th Ave, Tacoma, WA 98406-3502
      View Details
    • Value Estimation
      $2,830,000
      5,000 SF

      6420 6th Ave

      AUTO REPAIR, GARAGE • 5,000 SF
      6420 6th Ave, Tacoma, WA 98406-2024
      View Details
    • Value Estimation
      $1,480,000
      2,592 SF

      210 169th S St

      AUTO REPAIR, GARAGE • 2,592 SF
      210 169th S St, Tacoma, WA 98406
      View Details
    • Value Estimation
      $760,000
      1,334 SF

      5950 6th Ave

      AUTO REPAIR, GARAGE • 1,334 SF
      5950 6th Ave, Tacoma, WA 98406-2016
      View Details
    • Value Estimation
      $2,685,000
      6,500 SF

      2901 6th Ave

      AUTO REPAIR, GARAGE • 6,500 SF
      2901 6th Ave, Tacoma, WA 98406-6709
      View Details
    • Value Estimation
      $500,000
      892 SF

      2402 6th Ave

      AUTO REPAIR, GARAGE • 892 SF
      2402 6th Ave, Tacoma, WA 98406-7704
      View Details

    Similar Nearby for Sale

    • $999,999
      3,594 SF

      Mixed-Use Retail and Apartments

      Retail space with apartments and storage in vibrant 6th Avenue.
      3825 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing

      Planet Fitness in Westgate South

      22,336 SF single tenant Planet Fitness in Tacoma, Washington.
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    • $1,650,000
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      Restaurant Building with Highway Access

      Restaurant building with real estate included, located near major businesses.
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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.
      2712 21St St, Tacoma, WA 98406
      View Details
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      Retail/Office Building on 6th Avenue

      Retail or office space for lease in Tacoma.
      2407 6Th Avenue Ct, Tacoma, WA 98406
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    • Contact for pricing
      1,534 SF

      Freestanding Building in 6th Ave District

      1,534 SF building on 6,000 SF lot in Tacoma.
      3710 6Th Ave, Tacoma, WA 98406
      View Details

    Similar Nearby for Lease

    • $3,617 /Mo
      1,400 SF

      Retail Space in Proctor District

      Retail spaces available in Tacoma's vibrant Proctor District.
      2315 Pearl St, Tacoma, WA 98406
      View Details
    • Contact for pricing
      5,000 SF

      Mixed-Use Space in Tacoma

      5,000 SF space suitable for office or retail use.
      2407-2411 6Th Ave, Tacoma, WA 98406
      View Details
    • $26 SF/Yr

      Restaurant/Bar Space in Tacoma

      Fully equipped restaurant/bar in Tacoma's North End for lease.
      2207 North Pearl St, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Proctor District

      Retail space available in Tacoma's vibrant Proctor District.
      2315 N Pearl St, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,096 SF

      Retail Space Near Highway 16

      Retail space visible from Highway 16, near Winco grocery.
      5902 6Th Ave, Tacoma, WA 98406
      View Details
    • Contact for pricing
      1,364 SF

      Prime Retail Space on 6th

      High-visibility retail space in active Tacoma commercial corridor.
      3602 6Th Ave, Tacoma, WA 98406
      View Details
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    Tacoma, WA 98406-2601
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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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