University Place Office
For Sale
$550,000
6923 Lakewood Drive W # B-2, University Place, WA 98467
Office unit for sale in University Place, Washington.
Property Size2,242 SF
Price / SF$245.32
Days on Market225
Property Features for 6923 Lakewood Drive W # B-2
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Commercial
Amenities
No
0.1391
Building Details
Year Built
2000
Listing Agency:
New Horizons Real Estate LLC
(541) 241-6860
Listed By:
Sandra Slawosky
(541) 410-8376
Source:
Premierepropertygroup
Added: Mar 8
Changed: Oct 16
Last Checked: Oct 19 at 4:07AM
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 New Horizons Real Estate LLC
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Investment Insights
Based on property information with market context.
An office unit is available for purchase. The property is 2242 square feet and is located in University Place, Washington.
Key Highlights
- Office unit for sale.
- Located in University Place, Washington.
- Built in 2000.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,756
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,120
$635.1K
Cap Rate 7%
$453,657
$453.7K
Cap Rate 9%
$352,844
$352.8K
Market Conditions
NOI Build-Up for 2,242 SF
Gross rent
$49.2K $21.96/SF
− Vacancy
−$6.9K −$3.07/SF
EGI
$42.3K $18.89/SF
− OpEx
−$10.6K −$4.72/SF
NOI
$31.8K $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%
$635,120
Cap Rate 7%
$453,657
Cap Rate 9%
$352,844
Alternative Uses
Best Use
Office B
$453.7K
$397.0K – $529.3K
NOI $31,756 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$605.5K
$529.9K – $706.5K
NOI $42,388 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
611
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
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit for sale in University Place, Washington.
Where is this office unit located?
The property is located at 6923 Lakewood Drive W # B-2 University Place, WA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Office unit for sale.; Located in University Place, Washington.; Built in 2000.
