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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5804 186th E Ave Lake Tapps, WA 98391-6891

    • Apartment buildings
    • 3,400 SF
    • 1.10 lot acres
    OFF-MARKET
    Last Sale
    Jun 23, 2022
    $592,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    9.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US90-1724682
    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

    • Barth Carpet & Flooring / Carpet Wholesaler

    Property Details for 5804 186th E Ave

    Year built
    1991
    Construction
    FRAME
    Lot size
    1.10 lot acres
    Property size
    3,400 SF
    Zone code
    RSV5
    Property type
    Apartment buildings
    APN
    520217108
    APU
    520217108

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $435,000
      ML approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $685,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $708,000
      Market price range: $658k - $1.51M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Tapps
    County
    Pierce
    State
    Washington
    Longitude
    -122.182
    Latitude
    47.2054
    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
    $8,527
    $258,400
    $533,900
    $792,300
    -
    $258,400
    $533,900
    $792,300

    Comparable in this City

    • Value Estimation
      $955,000
      7,495 SF

      7001 Tapps E Hwy

      APARTMENT HOUSE (100+ UNITS) • 7,495 SF
      7001 Tapps E Hwy, Bonney Lake, WA 98391-8888
      View Details
    • Value Estimation by Request
      3,712 SF

      8508 Main E St, Unit 8518

      APARTMENT HOUSE (5+ UNITS) • 3,712 SF
      8508 Main E St, Bonney Lake, WA 98391-9205
      View Details
    • Value Estimation
      $785,000
      6,944 SF

      7202 194th E Ave

      APARTMENT HOUSE (5+ UNITS) • 6,944 SF
      7202 194th E Ave, Bonney Lake, WA 98391-7054
      View Details
    • Value Estimation by Request
      3,084 SF

      8513 Locust E Ave

      APARTMENT HOUSE (5+ UNITS) • 3,084 SF
      8513 Locust E Ave, Bonney Lake, WA 98391-7063
      View Details
    • Value Estimation by Request
      3,488 SF

      8511 Locust E Ave

      APARTMENT HOUSE (5+ UNITS) • 3,488 SF
      8511 Locust E Ave, Bonney Lake, WA 98391-7061
      View Details
    • Value Estimation by Request
      3,400 SF

      5810 186th E Ave

      APARTMENT HOUSE (5+ UNITS) • 3,400 SF
      5810 186th E Ave, Lake Tapps, WA 98391-6893
      View Details

    Similar Nearby for Sale

    • $950,000
      80,150 SF

      Bonney Lake Development Opportunity

      1.86-acre C2 zoned parcel with development options.
      21512 E Bonney Lake Blvd, Bonney Lake, WA 98391
      View Details
    • $750,000

      Bonney Lake Development Land

      Prime 1.35-acre development site
      18404-18414 Veterans Memorial Dr, Bonney Lake, WA 98391
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    • $349,950

      Residential Land with Lake Access

      Residential land in Bonney Lake with lake and mountain views.
      19506 56Th Street Ct, Bonney Lake, WA 98391
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    • $1,399,900
      236,444 SF

      5.42 Acres Zoned MSF Land

      5.42 acres of land zoned MSF with owner terms.
      19728 Forest Canyon Rd E, Sumner, WA 98391
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    • $1,350,000

      Bonney Lake Land For Sale

      Land available in Bonney Lake, Washington.
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    • $119,000

      Lake Tapps Residential Land

      Desirable Lake Tapps land parcel ready for new construction.
      4606 West Tapps Dr, Sumner, WA 98391
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      1,191 SF

      Move-in Ready Duplex Unit

      Well-maintained duplex with new flooring, fireplace, and fenced yard.
      5823 186Th Avenue Ct E, Sumner, WA 98391
      View Details
    • Contact for pricing
      216,243 SF

      Bonney Lake Industrial Project

      Class A industrial project in Bonney Lake, available Q2 2025.
      14621-14719 170Th Ave E, Bonney Lake, WA 98391
      View Details
    • Contact for pricing
      5,160 SF

      Bonney Lake Retail Space Available

      Retail space available for lease in Bonney Lake, WA.
      9903 205Th Ave E, Bonney Lake, WA 98391
      View Details
    • $36 SF/Yr
      1,566 SF

      Retail Space in Bonney Lake

      End-cap retail space in a high-traffic Bonney Lake location.
      9805-9807 214Th Ave E, Bonney Lake, WA 98391
      View Details
    • Contact for pricing
      216,243 SF

      Tall Firs Industrial Park: Bonney Lake

      Class A Flex/Warehouse Space Available
      14621 170Th Ave, Bonney Lake, WA 98391
      View Details
    • $27 SF/Yr
      1,200 SF

      Retail Space in Bonney Lake

      Retail shop space with prominent highway visibility in Bonney Lake.
      9301 192Nd Ave E, Bonney Lake, WA 98391
      View Details
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    Lake Tapps, WA 98391-6891
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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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