Two-Story Office Building Near
For Sale
Contact for pricing
6403 Lakewood Dr W, University Place, WA 98467
Two-story office building with ample parking near Meadow Park.
Property Size6,106 SF
Price / SF$253.77
Days on Market850
Property Features for 6403 Lakewood Dr W
General Information
Standard status
Active
Size
6,106 SF
Property subtype
Office
Building Details
Year Built
1986
Year Renovated
2022
Stories
2
Listing Agency:
Kidder Mathews Tacoma
Listed By:
Jerome O'Leary · License #WA
(253) 779-9292
Source:
Crexi
Added: Jun 14, 2024
Changed: Oct 4
Last Checked: Oct 9 at 7:18PM
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 Tacoma
Investment Insights
Based on property information with market context.
This two-story office building features a high-quality buildout with numerous private offices, a breakroom, a conference room, and a reception area. The property provides ample parking. Situated on the border of Tacoma and University Place, the building benefits from visibility and accessibility, located directly across from Meadow Park Golf Course. This corner location offers frontage on Lakewood Drive. The property contains 6,106 square feet.
Key Highlights
- High‑quality office buildout with numerous private offices, breakroom, conference room, and reception area.
- Ample parking for employees and clients.
- Excellent visibility and accessibility on Lakewood Drive.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,487
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,740
$1.7M
Cap Rate 7%
$1,235,529
$1.2M
Cap Rate 9%
$960,967
$961.0K
Market Conditions
NOI Build-Up for 6,106 SF
Gross rent
$134.1K $21.96/SF
− Vacancy
−$18.8K −$3.07/SF
EGI
$115.3K $18.89/SF
− OpEx
−$28.8K −$4.72/SF
NOI
$86.5K $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%
$1,729,740
Cap Rate 7%
$1,235,529
Cap Rate 9%
$960,967
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,487 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,442 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Explore this area
Business Placement
Demographics for 98467, WA
16,512
Population
6,718
Households
2.5
Avg Household Size
39
Median Age
42%
College-Educated
95%
High-School Grad
4.8 sq mi
ZIP Area
3,440
Density / Sq Mi
$90,586
Median Household Income
$48,802
Median Earnings
$1,566
Median Rent
$580,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with ample parking near Meadow Park.
Where is this office building located?
The property is located at 6403 Lakewood Dr 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: High‑quality office buildout with numerous private offices, breakroom, conference room, and reception area.; Ample parking for employees and clients.; Excellent visibility and accessibility on Lakewood Drive.
