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    Quality Office Building For Sale Title is generated by Realmo AI

    6403 Lakewood Drive W, University Place, WA 98467

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    For Sale
    $1,549,500

    Prime location office building with recent renovations and ample parking.

    Type:Commercial
    Property size:
    6,104 SF
    Price / SF:
    $253/SF
    Added:
    Jun 13, 2024
    Days on Market:
    731
    Last Refresh:
    May 10 at 11:13 pm

    Property Features for 6403 Lakewood Drive W

    General Information

    Standard status
    Active
    Size
    6,104 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

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    Listing Contact
    JEROME O'LEARY
    JEROME O'LEARY

    Listing agent JEROME O'LEARY License #9685

    Listing office KIDDER MATHEWS

    Listing date Jun 13, 2024

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of KIDDER MATHEWS

    HighLights

    • Prime location bordering Tacoma and University Place, across from Meadow Park Golf Course.
    • Recent renovations include a new roof (2023) and interior renovation (2022).
    • Well‑maintained building in excellent condition.
    • Includes private offices, conference rooms, breakroom, and reception area.
    • Flexible workspace with room for cubicles and work area.
    • Abundant parking and high‑quality landscaping.

    Overview

    This quality office building is situated in a prime location bordering Tacoma and University Place, occupying a corner lot across from Meadow Park Golf Course. The building, totaling 6104 square feet, is in excellent condition and features several private offices, conference rooms, and a breakroom area. A reception area provides space for cubicles and a work area. The property benefits from abundant parking and high-quality landscaping. A new roof was installed in 2023, and an interior renovation was completed in 2022.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $134.0k $21.96
    − Vacancy −$18.8k −$3.07
    EGI $115.3k $18.89
    − OpEx −$28.8k −$4.72
    NOI $86.5k $14.16
    6,104 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.24M
    $1.08M – $1.44M (±1% cap)
    NOI $86,458 @ 7.0% cap · market cap 5.58%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.65M
    $1.44M – $1.92M (±1% cap)
    NOI $115,404 @ 7.0% cap · market cap 7.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    University Place
    County
    Pierce
    State
    Washington
    Longitude
    -122.508
    Latitude
    47.1989

    FAQs

    What type of property is this?
    Office building - Prime location office building with recent renovations and ample parking.
    Where is this office building located?
    The property is located at 6403 Lakewood Drive W University Place, WA.
    What is the asking price?
    The asking price for this property is $1,549,500.
    What are key features of this property?
    This property features: Prime location bordering Tacoma and University Place, across from Meadow Park Golf Course.; Recent renovations include a new roof (2023) and interior renovation (2022).; Well‑maintained building in excellent condition.
    More about this property
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