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Property profile & analytics
OFF-MARKET
Commercial land
5606 Portland Ave Tacoma, WA 98404-2523
Entity Owned
10-yr Hold
Free & Clear
Property ID
US90-3155487
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1940
Lot
0.2 ac (8,550 SF)
Zoning code
C1
APN
5345000081
UPID
US90-3155487
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
-
El Milagro Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Gaia Properties LLC · 10 yrs held
Gaia Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
C1 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,433
Tax year 2024
Assessed value
$218,000
Assessed 2024
Previous assessed
$218,000
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$218,000
Land market value
$218,000
Total market value
$218,000
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
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1940
Heating
NONE
Stories
1
Lot
0.2 ac (8,550 SF)
Zoning code
C1
APN
5345000081
UPID
US90-3155487
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Tacoma, WA
Zoning C1 · permitted uses
C1 · 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.
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Gaia Properties LLC
Entity
Free & Clear · 10 yrs held
Mailing address
2500 FALCONCREST LOOP, RICHLAND, WA 99352-9314
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2017
—
Gaia Properties LLC
—
Deed
related
$525,000 · Community First Bank
Jun 27, 2016
$700,000
Gaia Properties LLC
First Svgs Bk Nw
Grant Deed
—
Aug 2, 2013
$750,000
Svgs Bk Nw First
Eisenhower & Carlson PLLC
Trustees Deed
related
—
Nov 19, 2008
$1,700,000
Steve C Baek
Jhmm LLC
Grant Deed
$1,360,000 · First Savings Bank
Apr 20, 2005
—
Jhmm LLC
Maynard,john H & Misko Y
Quit Claim Deed
related
—
Sep 30, 2002
$440,000
John H Maynard
Choe,kichin & Haewon T
Grant Deed
$355,685 · Mt Rainier National Bank
Jun 18, 1998
$35,000
Kichin Choe
Effelberg,hilda
Grant Deed
$31,500 · Seller
—
—
Kichin Choe
—
Deed Of Trust
related
$300,000 · Viking Community Bank
—
—
Steve C Back
—
Deed Of Trust
related
$412,411 · Misko Maynard
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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