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Property profile & analytics
FOR SALE
Turn key restaurants
6401 S Tacoma Way Tacoma, WA 98409
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1595394
For Sale
1 / 6
$1,860,000
6401 S Tacoma Way, Tacoma, WA 98409
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,488 SF
Lot
0.28 ac (12,000 SF)
Zoning code
C2
APN
3825000011
UPID
US90-1595394
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
-
Heal Asian Massage Spa Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$695k
Owner & transaction history
Lgy LLC · 2 yrs held
Lgy LLC
since 2023
Last sale
$799,000
3 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
Top alternative use upside
Neighborhood: shopping center
$1.1M
+8.3%
Auto repair, garage
$975,000
+0.1%
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
$585,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$975,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,055,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$975,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±10% · vs last sale $799k (Oct 27 2023)
Last sale anchor
$799k
Oct 27 2023
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
$279 / 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
$7,462
Tax year 2024
Assessed value
$670,800
Assessed 2024
Previous assessed
$670,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$578,300
Assessed improvement
$92,500
Land market value
$578,300
Improvement market value
$92,500
Total market value
$670,800
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
2,488 SF
Lot
0.28 ac (12,000 SF)
Zoning code
C2
APN
3825000011
UPID
US90-1595394
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Tacoma, WAZoning C2 · permitted uses
C2 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allowed in the C -2 District. The maximum building height in this district is 45 feet.
Zone name
Commercial
General category
MIXED_USE
Zone area
305.24 ac
Source
Ordinance Table
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$975,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$975,000
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Lgy LLC
Entity
Mailing address
6405 S TACOMA WAY, TACOMA, WA 98409-4004
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2023
$799,000
Lgy LLC
Connie M Peterson
Warranty Deed
$680,000 · Commercial Bank Of Ca
Feb 18, 2016
—
Connie M Peterson
Nygard H T & M M Trust
Warranty Deed
—
May 1, 1998
$375,000
Connie M Peterson
Nygard Trust
Grant Deed
$350,000 · Seller
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.
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