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Property profile & analytics
FOR SALE
Retail space
5950 N 9Th St Tacoma, WA 98406
Entity Owned
~
Est. High Equity
Property ID
US90-3344456
For Sale
1 / 12
$7,820,000
5950 N 9Th St, Tacoma, WA 98406
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,905 SF
Lot
1.76 ac (76,666 SF)
Zoning code
C2
APN
220022151
UPID
US90-3344456
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
-
National Performance Warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.23M
CAP Approach
CAP
$5.54M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.82M
Owner & transaction history
Drake Tacoma Partners LLC
Drake Tacoma Partners LLC
since 2025
Last sale
$7.4M
7 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$12.7M
+40.4%
Restaurant
$11.7M
+29.7%
Auto repair, garage
$11.0M
+22.3%
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
$8,245,000
ML approach
$8,230,000
CAP Approach
CAP Return
Estimation
6%
$5,995,000
6.5%
$5,535,000
7%
$5,140,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,030,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$12,680,000
Change: +40% · Conversion: Moderate
RESTAURANT
$11,710,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,045,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,220,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$8,960,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$7,320,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$7.82M
Range $7.04M – $8.60M · ±10% · vs last sale $7.40M (Jul 15 2025)
Last sale anchor
$7.40M
Jul 15 2025
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
$261 / 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
$36,971
Tax year 2024
Assessed value
$3,327,600
Assessed 2024
Previous assessed
$3,327,600
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,509,500
Assessed improvement
$1,818,100
Land market value
$1,509,500
Improvement market value
$1,818,100
Total market value
$3,327,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
29,905 SF
Lot
1.76 ac (76,666 SF)
Zoning code
C2
APN
220022151
UPID
US90-3344456
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Tacoma, WA
Zoning C2 · permitted uses
C2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.7M
RESTAURANT
Est. value
$11.7M
AUTO REPAIR, GARAGE
Est. value
$11.0M
COMMERCIAL (GENERAL)
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$9.0M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Drake Tacoma Partners LLC
Entity
Mailing address
PO BOX 2375, CLACKAMAS, OR 97015-2375
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
$7,400,000
Drake Tacoma Partners LLC
East Halsey Commons LLC
Bargain & Sale Deed
$10,950,000 · Southstate Bank NA
Jul 16, 2020
—
East Halsey Commons LLC
—
Deed
related
$3,500,000 · Bank Of America
Mar 31, 2020
$6,100,000
East Halsey Commons LLC
Gen2 Investments LLC
Grant Deed
related
—
Oct 3, 2007
—
Gen2 Investments LLC
Mb Real Properties LLC
Quit Claim Deed
related
$3,000,000 · Wells Fargo Bank NA
Feb 5, 2003
$1,751,000
Mb Real Properties LLC
John Volken Foundation
Grant Deed
—
May 31, 2001
$1,186,520
John Volken Foundation
United Furniture Warehouse INC
Quit Claim Deed
related
—
Feb 19, 1991
$514,787
Partners No 1 Nu
Unknown
Grant Deed
—
—
—
Mb Real Properties LLC
—
Deed Of Trust
related
$780,000 · Errol Station Partners LLC
—
—
Gen2 Investmnents LLC
—
Loan Modification
related
$2,830,139 · Wells Fargo Bank
—
—
Gen2 Investments LLC
—
Deed Of Trust
related
$3,000,000 · Wells Fargo Bank
—
—
Gen2 Investments LLC
—
Deed Of Trust
related
$2,843,330 · Wells Fargo Bank
—
—
East Halsey Commons LLC
—
Deed Of Trust
related
$3,500,000 · Bank Of America
—
—
Gen2 Investments LLC
—
Deed Of Trust
related
$4,300,000 · Symetra Life Insurance Co
—
—
Mb Real Properties LLC
—
Deed Of Trust
related
$250,000 · John Volken Foundation
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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