Multi-Suite Office
For Sale
$518,000
2719 Rochester St W, University Place, WA 98466
The flexible interior can serve one occupant or be configured for multiple office users.
Property Size2,960 SF
Price / SF$175
Days on Market8
Property Features for 2719 Rochester St W
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Office
Additional Details
Property Use
Office
Building Details
Building Size
2,960 SF
Year Built
1960
Buildings
1
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
Rachel Corp · License #WA 41623
(253) 686-7474
Source:
Lee-associates
Added: Oct 30
Changed: Nov 4
Last Checked: Nov 6 at 5:18AM
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 Lee & Associates Commercial Real Estate Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,960-square-foot office building dates to 1960 and offers a layout suited to a single occupant or division into two to three suites. Its configuration supports a range of office occupancy arrangements.
Key Highlights
- 2,960‑square‑foot office building
- Can be divided into 2–3 suites
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,926
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,520
$838.5K
Cap Rate 7%
$598,943
$598.9K
Cap Rate 9%
$465,844
$465.8K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$65.0K $21.96/SF
− Vacancy
−$9.1K −$3.07/SF
EGI
$55.9K $18.89/SF
− OpEx
−$14.0K −$4.72/SF
NOI
$41.9K $14.16/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,520
Cap Rate 7%
$598,943
Cap Rate 9%
$465,844
Alternative Uses
Best Use
Office B
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$799.5K
$699.5K – $932.7K
NOI $55,962 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
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Business Placement
Demographics for 98466, WA
29,769
Population
12,773
Households
2.3
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
6.2 sq mi
ZIP Area
4,801
Density / Sq Mi
$94,598
Median Household Income
$53,823
Median Earnings
$1,724
Median Rent
$564,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Pierce County, WA
Properties on Market for Office buildings in Pierce County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - The flexible interior can serve one occupant or be configured for multiple office users.
Where is this office building located?
The property is located at 2719 Rochester St W University Place, WA.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: 2,960‑square‑foot office building; Can be divided into 2–3 suites; Built in 1960
