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Property profile & analytics
FOR LEASE
Strip malls
5401 6Th Ave Tacoma, WA 98406
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0742857
For Lease
Contact for pricing
5401 6Th Ave, Tacoma, WA 98406
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,740 SF
Lot
8.56 ac (372,961 SF)
Zoning code
C2
APN
220021033
UPID
US90-0742857
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
-
Family Orthodontics Dental Office
-
Kid's Dental Dental Office
-
Defiance Jiu Jitsu Training Center Sports School
-
SR22 Insurance Marketing & Advertising
-
Harbor Freight Tools Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
$1.72M
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.37M
Owner & transaction history
Isador Schreiber & Associates · 11 yrs held
Isador Schreiber & Associates
since 2015
7 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
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
$1,200,000
CAP Approach
CAP Return
Estimation
6%
$1,860,000
6.5%
$1,720,000
7%
$1,595,000
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±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
$177 / 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
$250,701
Tax year 2024
Assessed value
$22,570,500
Assessed 2024
Previous assessed
$22,570,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$13,787,800
Assessed improvement
$8,782,700
Land market value
$13,787,800
Improvement market value
$8,782,700
Total market value
$22,570,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
4
Stories
1
Units
1
Total area
7,740 SF
Lot
8.56 ac (372,961 SF)
Zoning code
C2
APN
220021033
UPID
US90-0742857
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Tacoma, WAZoning C2 · permitted uses
C2 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
Building & site characteristics
From public records
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
4
Units
1
Lot
8.56 ac
Current owner
From public records · entity-resolved
Isador Schreiber & Associates
Entity
Mailing address
650 S ORCAS ST STE #210, SEATTLE, WA 98108-2652
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2015
$17,200,000
Isador Schreiber & Associates
Rh Sixth Avenue Plaza Associat
Grant Deed
—
Nov 26, 2003
$11,728,000
Rh Sixth Ave Plaza Associates
Getty,richard K & Rhonda
Grant Deed
$8,000,000 · Morgan Stanley Mtg Capital INC
Dec 11, 2002
—
Sixth Avenue Associates LLC
—
Deed Of Trust
related
$9,000,000 · Evertrust Bank
Sep 16, 1999
$10,959,216
Richard K Getty
Ct Operating Partnership
Grant Deed
$8,785,170 · Key Bank NA
Aug 12, 1997
—
Bentall Investments LLC
Sixth Avenue Plaza
Grant Deed
related
—
Aug 29, 1994
$1,200,000
Sixth LP
Sixth Avenue Pla
Grant Deed
related
$2,700,000 · Us Bank Of Washington
—
—
Rh Sixth Avenue Plaza Associat
—
Deed Of Trust
related
$7,200,000 · Standard Insurance Co
—
—
Alexander Haagen Properties
—
Deed Of Trust
related
$250,000 · Chase Manhattan 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.
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