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

    933 Market St Tacoma, WA 98402

    • Turn key restaurants
    • 9,000 SF
    • 0.21 lot acres
    For Sale
    View listing
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3304394
    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

    • Tacoma Comedy Club / Nightclub / Theater & Performing Art Venue
    • Joe's Plumbing & Heating / Plumbing Service / General Contractor
    • Danny Furnace Repair / HVAC Service / General Contractor
    • Tacoma Burger Company / Nightclub / Theater & Performing Art Venue
    • Fat Boy Wings / Restaurant

    Property Details for 933 Market St

    Year built
    1922
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    9,000 SF
    Zone code
    DCC
    Property type
    Turn key restaurants
    APN
    2009070060
    APU
    2009070060

    Description

    This iconic 1922 Nash Building, located at 933 Market Street in Tacoma, Washington's vibrant Downtown North Tacoma (DCC) district, presents a rare investment opportunity. The three-story structure masterfully combines classic architecture with Art Deco influences, offering a unique blend of historical charm and modern functionality. Undergoing meticulous updates in 2024, the building boasts a brand new HVAC system, completely updated electrical and plumbing systems, and a comprehensive seismic retrofit, ensuring both comfort and structural integrity for years to come. The property's mixed-use design is highly attractive. The ground floor houses the well-established Tacoma Comedy Club, a popular restaurant, bar, and entertainment venue operating under a current lease. The second floor comprises a substantial 7,800 square foot flex space, fully finished and ready for immediate occupancy, offering immense versatility for a variety of commercial uses. Convenient parking is provided by a secure, finished parking garage on the first floor, with capacity for 17 vehicles. Adding to its appeal is a stunning rooftop lounge, offering breathtaking panoramic views of Commencement Bay and the downtown area. This space is ideal for private events or as a valuable amenity for tenants. Priced at $5,000,000, this landmark property represents a unique chance to acquire a piece of Tacoma's history while capitalizing on its contemporary utility and prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.441
    Latitude
    47.254
    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
    $20,626
    $1,048,300
    $807,700
    $1,856,000
    -
    $1,048,300
    $807,700
    $1,856,000

    Comparable in this City

    • Value Estimation
      $1,855,000
      19,976 SF

      565 Broadway

      RESTAURANT • 19,976 SF
      565 Broadway, Tacoma, WA 98402-3907
      View Details
    • Value Estimation by Request
      6,044 SF

      928 Pacific Ave

      RESTAURANT • 6,044 SF
      928 Pacific Ave, Tacoma, WA 98402-4402
      View Details
    • Value Estimation
      $705,000
      6,929 SF

      1322 Fawcett Ave

      RESTAURANT • 6,929 SF
      1322 Fawcett Ave, Tacoma, WA 98402-1905
      View Details
    • Value Estimation by Request
      5,000 SF

      2302 Fawcett Ave

      RESTAURANT • 5,000 SF
      2302 Fawcett Ave, Tacoma, WA 98402-1402
      View Details
    • Value Estimation by Request
      4,627 SF

      2104 Commerce St

      RESTAURANT • 4,627 SF
      2104 Commerce St, Tacoma, WA 98402-3002
      View Details
    • Value Estimation
      $515,000
      6,988 SF

      Marke Ave Jefferson, Unit 1901

      RESTAURANT • 6,988 SF
      Marke Ave Jefferson, Tacoma, WA 98402
      View Details

    Similar Nearby for Sale

    • $2,250,000
      10,550 SF

      Turnkey Restaurant and Brewery Building

      Two-story restaurant and brewery in Tacoma's Brewing District.
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
    • $1,950,000
      5,062 SF

      Brewery Blocks Suite 2122

      Tacoma Restaurant/Office Space
      2122 Commerce St, Tacoma, WA 98402
      View Details
    • $2,250,000
      10,550 SF

      Tacoma Brewery District Restaurant/Brewery

      Turnkey restaurant and brewery in Tacoma's growing Brewing District.
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
    • Contact for pricing
      90,572 SF

      Historic Building Renovation in 2025

      Iconic building with restaurant, retail, and office spaces for sale.
      625 Commerce St, Tacoma, WA 98402
      View Details
    • $2,250,000
      10,550 SF

      2302 Fawcett Ave

      Restaurants • 10,550 SF
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
    • $1,650,000
      2,920 SF

      Brewery Blocks Retail/Office Space

      Street-level retail, restaurant, or office space with mezzanine.
      2102 Commerce St, Tacoma, WA 98402
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      5,395 SF

      Waterfront Restaurant Space Available

      Restaurant space on the Thea Foss Waterway with custom build-out.
      1933 Dock St, Tacoma, WA 98402
      View Details
    • $22 SF/Yr
      5,395 SF

      Waterfront Restaurant Space Available

      5,395 SF restaurant space with custom build-out and waterfront views.
      1933 Dock St, Tacoma, WA 98402
      View Details
    • $15 SF/Yr
      10,550 SF

      Tacoma Brewery & Restaurant Space

      Historic building, fully renovated, prime location.
      2302 Fawcett Ave, Tacoma, WA 98402
      View Details
    • $22 SF/Yr
      19,384 SF

      Waterfront Mixed-Use Opportunity in Tacoma

      Office, retail, and restaurant spaces with views of Mt. Rainier.
      1701-1715 Dock St, Tacoma, WA 98402
      View Details
    • $24 SF/Yr
      5,636 SF

      Pacific Avenue Retail Space Available

      Retail space available in the Annex Building on Pacific Avenue.
      1411-1423 Pacific Ave, Tacoma, WA 98402
      View Details
    • $19 SF/Yr
      157,833 SF

      Downtown Tacoma Office Campus

      157,883 SF office campus with amenities and flexible terms.
      950 Market St, Tacoma, WA 98402
      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.
    933 Market St
    Tacoma, WA 98402
    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.