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

    9723 Steele St Tacoma, WA 98444-7824

    • Assisted living facilities
    • 3.48 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0547182
    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

    • Charlton Place / Assisted Living Facility / Retirement Community
    • Dr. Atif Mian / Internist

    Property Details for 9723 Steele St

    Lot size
    3.48 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    319065024
    APU
    319065024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $615,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.465
    Latitude
    47.1682
    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
    $57,864
    $1,658,300
    $4,006,600
    $5,664,900
    -
    $1,658,300
    $4,006,600
    $5,664,900

    Comparable in this City

    • Value Estimation
      $320,000
      5,764 SF

      321 116th S St

      HOMES (RETIRED, NURSING) • 5,764 SF
      321 116th S St, Tacoma, WA 98444-5405
      View Details
    • Value Estimation
      $1,210,000
      54,181 SF

      2102 96th St

      HOMES (RETIRED, NURSING) • 54,181 SF
      2102 96th St, Tacoma, WA 98444-1753
      View Details
    • Value Estimation
      $290,000
      6,032 SF

      14016 A S St

      HOMES (RETIRED, NURSING) • 6,032 SF
      14016 A S St, Tacoma, WA 98444-4662
      View Details
    • Value Estimation
      $1,125,000
      27,250 SF

      9505 Steele St

      MEDICAL BUILDING • 27,250 SF
      9505 Steele St, Tacoma, WA 98444-1858
      View Details
    • Value Estimation
      $1,525,000
      6,812 SF

      12165 Pacific S Ave

      MEDICAL BUILDING • 6,812 SF
      12165 Pacific S Ave, Tacoma, WA 98444-5124
      View Details
    • Value Estimation
      $425,000
      9,935 SF

      10234 Pacific S Ave

      MEDICAL BUILDING • 9,935 SF
      10234 Pacific S Ave, Tacoma, WA 98444-6048
      View Details

    Similar Nearby for Sale

    • $489,630
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      Medical Office Building For Sale

      Single-tenant medical office with four operatories and upgraded signage.
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      Tacoma Pacific Ave Commercial Property

      Prime location, high-income potential.
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      New Townhome Development For Sale

      38-unit townhome development completed in 2022 in Parkland, Washington.
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    • $1,349,950

      Commercial Land with High Traffic

      26,980 SF commercial land with high traffic frontage.
      14423 Pacific Ave, Tacoma, WA 98444
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    • $2,250,000

      Parkland Apartments Near Downtown Tacoma

      Apartment community with updated units near Downtown Tacoma and university.
      1420 112Th St S, Tacoma, WA 98444
      View Details
    • $559,960

      Corner Parcel with Frontage

      Excellent corner parcel with frontage on 112th Street.
      11207 B St, Tacoma, WA 98444
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    Similar Nearby for Lease

    • $10 SF/Yr
      2,685 SF

      Retail Space in High-Traffic Area

      End-cap unit suitable for retail or professional office use.
      13022 Pacific Ave S, Tacoma, WA 98444
      View Details
    • $18 SF/Yr
      5,668 SF

      Tacoma Office Space Available

      2,405 sq ft Traditional Office Suite
      215 Garfield St, Tacoma, WA 98444
      View Details
    • Contact for pricing
      273,816 SF

      Tacoma Industrial Flex Space

      Modern warehouse/office space, flexible options.
      12005 Steele St, Tacoma, WA 98444
      View Details
    • $22 SF/Yr
      1,250 SF

      Retail Space with QFC Anchor

      Retail space anchored by QFC with high traffic.
      11200 Pacific Ave S, Tacoma, WA 98444
      View Details
    • Contact for pricing
      4,800 SF

      Tacoma Specialty Property for Rent

      4,800 SF specialty property available for rent in Tacoma.
      10715 A St S, Tacoma, WA 98444
      View Details
    • $8,000 /Mo
      7,004 SF

      Former Auto Parts Store Available

      Auto shop with parking, yard, and highway access.
      12615 Pacific Ave S, Tacoma, WA 98444
      View Details
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    9723 Steele St
    Tacoma, WA 98444-7824
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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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