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    Property profile & analytics

    6240 Tacoma Way Tacoma, WA 98409-4126

    • Auto shops
    • 6,892 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2022
    $1,050,000
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1589870
    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

    • Shine Lab / Auto Repair Shop
    • Rainier Audio / Electronics & Wireless Store / Auto Parts Store
    • Intoxalock Ignition Interlock / Building Supply / General Contractor

    Property Details for 6240 Tacoma Way

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    0.19 lot acres
    Property size
    6,892 SF
    Zone code
    C2
    Property type
    Auto shops
    APN
    220244000
    APU
    220244000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,015,000
      ML approach
      $1,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,123,000
      Market price range: $1.12M - $4.33M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.484
    Latitude
    47.1993
    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
    $8,398
    $343,900
    $411,200
    $755,100
    -
    $343,900
    $411,200
    $755,100

    Comparable in this City

    • Value Estimation
      $770,000
      3,416 SF

      15718 Main E St

      AUTO REPAIR, GARAGE • 3,416 SF
      15718 Main E St, Tacoma, WA 98409
      View Details
    • Value Estimation by Request
      1,688 SF

      6648 Puget Sound Ave

      AUTO REPAIR, GARAGE • 1,688 SF
      6648 Puget Sound Ave, Tacoma, WA 98409-4017
      View Details
    • Value Estimation
      $575,000
      6,120 SF

      3212 Sprague Ave, Unit 24170

      AUTO REPAIR, GARAGE • 6,120 SF
      3212 Sprague Ave, Tacoma, WA 98409-7887
      View Details
    • Value Estimation
      $795,000
      11,200 SF

      5602 Washington St

      AUTO REPAIR, GARAGE • 11,200 SF
      5602 Washington St, Tacoma, WA 98409-2627
      View Details
    • Value Estimation
      $1,270,000
      27,500 SF

      6201 Tacoma Way

      AUTO REPAIR, GARAGE • 27,500 SF
      6201 Tacoma Way, Tacoma, WA 98409-4125
      View Details
    • Value Estimation by Request
      8,000 SF

      3711 Tacoma Way

      AUTO REPAIR, GARAGE • 8,000 SF
      3711 Tacoma Way, Tacoma, WA 98409-3134
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Tacoma Commercial Parcel

      14,000 sq ft commercial parcel in Tacoma's event hub.
      611 E 27Th St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Tacoma Mall Retail Opportunity

      Three-story, 2,707 SF building near Tacoma Mall entrance.
      4010 S Steele St, Tacoma, WA 98409
      View Details
    • $1,660,800
      5,536 SF

      Adaptable Commercial Space For Sale

      Commercial property suitable for retail, showroom, or light industrial use.
      4820 Washington St, Tacoma, WA 98409
      View Details
    • $1,200,000
      1,896 SF

      Restaurant/Retail Property in Tacoma, WA

      Restaurant/Retail property available for sale in Tacoma, WA.
      3101 S 38Th St, Tacoma, WA 98409
      View Details
    • $9,000,000

      Tacoma Retail Property For Sale

      Multi-tenant retail property in Tacoma's West End, 100% occupied.
      4916 Center St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      South Tacoma Way Retail Warehouse

      Freestanding retail warehouse with I-502 zoning and high visibility.
      3201 South Tacoma Way, Tacoma, WA 98409
      View Details

    Similar Nearby for Lease

    • $6,984 /Mo
      3,600 SF

      Auto Shop with Lifts

      3,600 SF auto shop with lifts for rent.
      4710 Adams St, Tacoma, WA 98409
      View Details
    • Contact for pricing

      Functional Industrial Space in Tacoma

      Versatile industrial space suitable for various business operations.
      2905 S M St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      4,430 SF

      Tacoma Mall Blvd Retail Space

      Retail space available on Tacoma Mall Blvd.
      5825-6001 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • Contact for pricing
      2,604 SF

      Retail Space in Tacoma, WA

      Retail space available for lease in Tacoma, Washington.
      5006 Center St, Tacoma, WA 98409
      View Details
    • Contact for pricing
      6,703 SF

      Retail Space in Tacoma Mall

      Retail property available for lease in Tacoma, Washington.
      6249 Tacoma Mall Blvd, Tacoma, WA 98409
      View Details
    • $4,491 /Mo
      2,566 SF

      Tacoma Retail or Flex Space

      Retail or flex space available for lease in Tacoma.
      3630 Cedar St, Tacoma, WA 98409
      View Details
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    6240 Tacoma Way
    Tacoma, WA 98409-4126
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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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