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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7202 Mckinley Ave Tacoma, WA 98404

    • Commercial real estate
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Oct 24, 2022
    $895,000
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2560491
    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

    • Commercial real estate

    Property Details for 7202 Mckinley Ave

    Year built
    2012
    Lot size
    0.24 lot acres
    Zone code
    M1
    Property type
    Commercial real estate
    APN
    4150000331
    APU
    4150000331

    Description

    This exceptional commercial property at 7202-7212 E McKinley Avenue in Tacoma, WA, presents a fantastic investment opportunity. Priced at $1.575 million, this newly equipped and renovated self-serve car wash boasts a prime corner location on two of Tacoma's major thoroughfares: E McKinley Avenue and E 72nd Street. The property encompasses two tax lots, totaling a significant land area, and is fully fenced for security. Convenient alley access is also available. A comprehensive security system is already in place, enhancing the safety and peace of mind for the owner and their operations. Currently zoned M1 Light Industrial, this property offers substantial potential for expansion. The additional lot provides ample space for a variety of complementary businesses, such as a car detailing center, window tinting service, paintless dent repair shop, body shop, oil change facility, or even a car rental office. Alternatively, the extra space could be leased to generate additional income. Beyond automotive services, the zoning also allows for diverse retail ventures, including a coffee shop, donut shop, brewery, restaurant, or other food service establishment. The possibilities are extensive, limited only by the buyer's vision and entrepreneurial spirit. This is a rare chance to acquire a thriving business with significant expansion potential in a high-traffic area of Tacoma.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $885,000
      ML approach
      $840,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.421
    Latitude
    47.1916
    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
    $2,173
    $185,800
    $8,900
    $194,700
    -
    $185,800
    $8,900
    $194,700

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
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      0.64 Acres

      1611 76th St E Ct

      COMMERCIAL (GENERAL) • 0.64 Acres
      1611 76th St E Ct, Tacoma, WA 98404
      View Details
    • Value Estimation by Request
      41,787 SF

      1410 72Nd St

      Retail properties • 41,787 SF
      1410 72Nd St, Tacoma, WA 98404
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    • Value Estimation by Request
      1,836 SF

      7102 Mckinley Ave

      COMMERCIAL (GENERAL) • 1,836 SF
      7102 Mckinley Ave, Tacoma, WA 98404
      View Details
    • Value Estimation by Request
      0.52 Acres

      4601 Portland Ave

      RECREATIONAL, ENTERTAINMENT • 0.52 Acres
      4601 Portland Ave, Tacoma, WA 98404
      View Details

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    Tacoma, WA 98404
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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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