Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 11th St Tacoma, WA 98421-2402

    • Turn key restaurants
    • 1,170 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1484947
    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

    • Turn key restaurants

    Property Details for 602 11th St

    Year built
    1975
    Construction
    WOOD FRAME
    Lot size
    0.07 lot acres
    Property size
    1,170 SF
    Zone code
    S10
    Property type
    Turn key restaurants
    APN
    4855000020
    APU
    4855000020

    Description

    This 1,170-square-foot vacant restaurant building in Tacoma, WA, is available for $433,000. Located at 602 E 11th St, this single-story, Class B property sits on a 3,100-square-foot lot and is zoned Port Maritime & Industrial (PMI). Built in 1975 and renovated in 1985, the building features an older commercial kitchen (fridges, freezers, flat top, fryers, hoods, vents, and sinks) requiring modernization of mechanical, electrical, and plumbing systems. The roof is relatively new, and the structure is sound

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $186,000
      Market price range: $187k - $858k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $460,000
      Current use
      AUTO REPAIR, GARAGE
      $430,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.427
    Latitude
    47.2545
    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
    $1,112
    $76,400
    $22,700
    $99,100
    -
    $76,400
    $22,700
    $99,100

    Comparable in this City

    • Value Estimation
      $420,000
      5,829 SF

      1320 Puyallup Ave

      RESTAURANT • 5,829 SF
      1320 Puyallup Ave, Tacoma, WA 98421-2325
      View Details
    • Value Estimation
      $270,000
      2,968 SF

      409 26th St

      RESTAURANT • 2,968 SF
      409 26th St, Tacoma, WA 98421-1389
      View Details
    • Value Estimation
      $355,000
      1,920 SF

      1206 Puyallup Ave

      RESTAURANT • 1,920 SF
      1206 Puyallup Ave, Tacoma, WA 98421-2324
      View Details
    • Value Estimation
      $240,000
      1,000 SF

      308 26th St

      RESTAURANT • 1,000 SF
      308 26th St, Tacoma, WA 98421-1309
      View Details
    • Value Estimation
      $465,000
      9,525 SF

      1900 D St

      RESTAURANT • 9,525 SF
      1900 D St, Tacoma, WA 98421-1503
      View Details
    • Value Estimation
      $1,000,000
      25,000 SF

      2102 Alexander Ave

      RESTAURANT • 25,000 SF
      2102 Alexander Ave, Tacoma, WA 98421-4016
      View Details

    Similar Nearby for Sale

    • $2,200,000
      5,648 SF

      Multi-Tenant Building Near Tacoma Dome

      Stabilized, multi-tenant building and parking lot near Tacoma Dome.
      409 26Th St, Tacoma, WA 98421
      View Details
    • $1,500,000
      8,904 SF

      Corner Building with Restaurant

      Restaurant, banquet room, and apartments near Tacoma Dome.
      301 25Th St, Tacoma, WA 98421
      View Details
    • $2,200,000
      5,648 SF

      Multi-Tenant Building Near Tacoma Dome

      Multi-tenant building and parking lot near Tacoma Dome for sale.
      409-411 East 26Th St, Tacoma, WA 98421
      View Details
    • $1,300,000
      10,890 SF

      Tacoma Dome District Parking Lot

      Quarter-acre parking lot near I-705 in Tacoma Dome District.
      102 25Th St, Tacoma, WA 98421
      View Details
    • $5,500,000
      33,941 SF

      Restored Two-Story Retail Property

      Two-story retail property restored in 2015, near transportation and amenities.
      409 Puyallup Ave, Tacoma, WA 98421
      View Details
    • Contact for pricing
      4,240 SF

      Downtown Tacoma Retail/Warehouse Space

      Retail/warehouse space in downtown Tacoma with high visibility.
      102 Puyallup Ave, Tacoma, WA 98421
      View Details

    Similar Nearby for Lease

    • $0.50 SF/Yr
      4,240 SF

      Tacoma Showroom/Warehouse Near I-5

      4,240 SF showroom/warehouse with high visibility near I-5.
      102-106 Puyallup Ave, Tacoma, WA 98421
      View Details
    • Contact for pricing
      90,000 SF

      Tacoma Warehouse Space Available

      90,000 square foot warehouse space for lease in Tacoma.
      1901 Taylor Way, Tacoma, WA 98421
      View Details
    • Contact for pricing
      225,972 SF

      Fife Warehouse Space Available

      225972 square foot warehouse space for rent in Fife.
      7450 26Th St E, Fife, WA 98421
      View Details
    • $5 SF/Yr
      9,700 SF

      Tacoma Warehouse with Loading Docks

      9,700± SF warehouse with 29 loading positions for lease.
      1955 Lincoln Ave, Tacoma, WA 98421
      View Details
    • Contact for pricing
      220,429 SF

      Tacoma Warehouse Space Available

      220,429 SF warehouse space for lease in Tacoma, WA.
      2608 Port Of Tacoma Rd, Tacoma, WA 98421
      View Details
    • Contact for pricing
      4 SF

      Industrial Land with Rail Spur

      Industrial land available for lease with rail access and container stacking.
      2021 E Marc St, Tacoma, WA 98421
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 11th St
    Tacoma, WA 98421-2402
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.