Industrial Land with Development
6802 27th St W University Place, WA 98466
6802 27th St W, University Place, WA, 98466
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For Sale
Contact for pricing
Zoned M/U–IU–75, the site supports light industrial or a contractor yard, or a multifamily concept.
Property Size25,968 SF
Price / SF$267.64
Days on Market331
Property Features for 6802 27th St W
General Information
- Standard status
- Active
- Size
- 25,968 SF
- Property subtype
- Retail, Land
Listing agency
Bruce Barker
Listed by
Matt McLennan · License #22027044
Source
Crexi
Added: Aug 25, 2025 Updated: Jul 20 at 6:08PM Checked: Jul 21 at 5:34AM
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 Bruce Barker
Investment Insights
Based on property information with market context.
The property at 6802 27th St W includes an existing industrial block building and is zoned M/U - IU - 75. The zoning allows for use as a contractor yard or light industrial use, and it also supports a marquee multifamily development concept at the entrance of University Place.
The area is described as having many local amenities, and the site is adjacent to the Fircrest Golf Club. It is also positioned as central to Tacoma, Joint Base Lewis-McChord (JBLM), and Lakewood.
For buyers evaluating industrial use versus redevelopment, this site offers an existing structure alongside zoning that contemplates both light industrial uses and a multifamily development direction.
The area is described as having many local amenities, and the site is adjacent to the Fircrest Golf Club. It is also positioned as central to Tacoma, Joint Base Lewis-McChord (JBLM), and Lakewood.
For buyers evaluating industrial use versus redevelopment, this site offers an existing structure alongside zoning that contemplates both light industrial uses and a multifamily development direction.
Key Highlights
- Zoned M/U–IU–75, supporting development as a multifamily concept or other permitted uses
- Zoning also supports use of the existing industrial block building for light industrial or as a contractor yard
- Property is adjacent to Fircrest Golf Club
Local Financial Insights For Industrial
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 | $405.1k | $15.60 |
| − Vacancy | −$32.0k | −$1.23 |
| EGI | $373.1k | $14.37 |
| − OpEx | −$111.9k | −$4.31 |
| NOI | $261.2k | $10.06 |
25,968 SF · lease $15.60/SF/yr · vacancy 7.90% · expense 30.00%
Alternative Uses
Best Use
Industrial
$3.73M
$3.26M – $4.35M
NOI $261,168 @ 7.0% cap · market cap 3.76%
Second Best
Flex RnD
$2.17M
$1.90M – $2.54M
NOI $152,140 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$7.01M
$6.14M – $8.18M
NOI $490,957 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Zoned M/U–IU–75, the site supports light industrial or a contractor yard, or a multifamily concept.
Where is this flex space located?
The property is located at 6802 27th St W University Place, WA.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Zoned M/U–IU–75, supporting development as a multifamily concept or other permitted uses; Zoning also supports use of the existing industrial block building for light industrial or as a contractor yard; Property is adjacent to Fircrest Golf Club
