5602 Lawrence St Tacoma, WA 98409-5320
Property Lookup
Property profile & analytics
5602 Lawrence St Tacoma, WA 98409-5320
- Retail space
- 3,646 SF
- 0.11 lot acres
Property ID
US90-1500165
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.
Location Intelligence
Current Use by Public Records
- Edison City / Nightclub / Bar & Pub
Property Details for 5602 Lawrence St
- Year built
- 1909
- Construction
- WOOD FRAME
- Lot size
- 0.11 lot acres
- Property size
- 3,646 SF
- Zone code
- RCX
- Property type
- Retail space
- APN
- 9485000831
- APU
- 9485000831
Description
This exceptional 3,646-square-foot, two-story building in South Tacoma presents a remarkable investment opportunity. Situated on a 5,000-square-foot lot (.115 acres), this property boasts a prime location between I-5 and South Tacoma Way, directly on 56th Street. Originally configured as a bar with a manager's apartment on the upper level (1,823 sq ft each), the building's adaptability is a key asset. It's easily convertible to professional office space, retail, or even a multi-unit residential property, catering to a wide range of uses. The building, constructed in 1909 and renovated in 1998, offers secure parking and storage in the rear, along with convenient customer parking. Its proximity to shopping, easy freeway access, and surrounding businesses further enhance its appeal. The asking price is $699,000, translating to $191.72 per square foot. This property offers a unique blend of location, versatility, and potential for significant return on investment. The two-story structure provides ample space and flexibility, making it an ideal choice for a variety of commercial ventures. Don't miss this chance to acquire a well-positioned property in a thriving South Tacoma neighborhood.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $725,000
- ML approach
- $800,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $730,000
- 6.5%
- $675,000
- 7%
- $625,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $496,000
Market price range: $497k - $1.03M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $755,000 Current use
- COMMERCIAL (GENERAL)
- $975,000 Change: +28% Conversion: Easy
- WAREHOUSE, STORAGE
- $960,000 Change: +27% Conversion: Difficult
- MEDICAL BUILDING
- $890,000 Change: +18% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.479
- Latitude
- 47.206
- 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
$3,884
$206,300
$142,400
$348,700
-
$206,300
$142,400
$348,700
