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Property profile & analytics
FOR LEASE
Office Spaces
6704 Tacoma Mall Blvd Tacoma, WA 98409
Entity Owned
27-yr Hold
~
Est. High Equity
Property ID
US90-0754832
For Lease
1 / 2
$18 SF/Yr
6704 Tacoma Mall Blvd, Tacoma, WA 98409
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,894 SF
Lot
1.04 ac (45,346 SF)
Zoning code
C2
APN
7850400071
UPID
US90-0754832
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
-
Olympic Sports & Spine Alternative Medicine Practice Spa & Massage Center
-
Katelyn Halicks Physician
-
Tehaleh Owners Association (The Management Trust) Homeowners' Association Association Or Organization
-
Katie's Way Plus - Tacoma (Deep TMS & Psychiatry) Crisis Center Medical Clinic
-
Franklin R. Merritt, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.80M
Comparable Approach
Comparable
$2.85M
Blend (final)
Blend
$3.18M
Owner & transaction history
Ullis Real Estate Ventures LLC · 27 yrs held
Ullis Real Estate Ventures LLC
since 1999
2 recorded transactions
Zoning & alternative use
C2 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,115,000
6.5%
$3,800,000
7%
$3,530,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,775,000
Current use
WAREHOUSE, STORAGE
$4,710,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,570,000
Change: -4% · Conversion: Moderate
MEDICAL BUILDING
$4,380,000
Change: -8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,955,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$3.18M
Range $2.86M – $3.50M · ±10%
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
$178 / 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
$46,655
Tax year 2024
Assessed value
$4,199,500
Assessed 2024
Previous assessed
$4,199,500
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,159,500
Assessed improvement
$3,040,000
Land market value
$1,159,500
Improvement market value
$3,040,000
Total market value
$4,199,500
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Total area
17,894 SF
Lot
1.04 ac (45,346 SF)
Zoning code
C2
APN
7850400071
UPID
US90-0754832
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
COMMERCIAL (GENERAL) Current
Est. value
$4.8M
WAREHOUSE, STORAGE
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$4.4M
INDUSTRIAL (GENERAL)
Est. value
$4.0M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Lot
1.04 ac
Current owner
From public records · entity-resolved
Ullis Real Estate Ventures LLC
Entity
Mailing address
PO BOX 2214, TACOMA, WA 98401-2214
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 1999
—
Ullis Real Estate Ventures LLC
—
Grant Deed
related
$1,520,000 · Columbia State Bank
—
—
Ullis Real Estate Ventures LLC
—
Deed Of Trust
related
$188,700 · Columbia State Bank
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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