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    Property profile & analytics

    6720 Regents Blvd Tacoma, WA 98466-5400

    • Strip malls
    • 13,982 SF
    • 1.75 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0037471
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Farmers Insurance - Rohalio Newman / Life Insurance Agency / Motorcycle Insurance Agency
    • Starbucks / Cafe / Coffee Store
    • University Place Best Pet Grooming Inc / Pet Groomer
    • Farmers Insurance - John Hayes / Insurance Agency / Auto Insurance Agency
    • Farmers Insurance - Alec Lewis / Insurance Agency / Auto Insurance Agency

    Property Details for 6720 Regents Blvd

    Year built
    1988
    Construction
    WOOD FRAME
    Lot size
    1.75 lot acres
    Property size
    13,982 SF
    Zone code
    C
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6465000020
    APU
    6465000020

    Description

    University Place offers a fantastic opportunity for businesses seeking office or retail space at 6720 Regents Blvd, 98466. This property, known as UP Crossing, boasts a total of 21,960 square feet and features a multi-tenant configuration. Two spaces are currently available, providing flexible options ranging from 1,275 to 2,800 square feet, ideal for a variety of businesses. The building's prime location in University Place offers excellent visibility and accessibility. Its strategic placement directly across from the Fircrest Golf Club ensures high foot traffic and a desirable location within the vibrant University Place community. The property's "Traditional Office" subtype suggests a professional and functional layout, suitable for a range of office-based operations or retail ventures. The address is conveniently located in University Place, Washington, providing easy access to local amenities and transportation networks. This presents a unique chance to establish a presence in a thriving area with strong community ties and a desirable location. The available spaces offer the potential for immediate occupancy and customization to suit individual business needs. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.527
    Latitude
    47.2359
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $59,838
    $2,218,700
    $2,712,900
    $4,931,600
    -
    $2,218,700
    $2,712,900
    $4,931,600

    Comparable in this City

    • Value Estimation by Request
      11,800 SF

      1041 Regents Blvd

      SHOPPING CENTER, STRIP CENTER • 11,800 SF
      1041 Regents Blvd, Tacoma, WA 98466
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    • Value Estimation by Request
      19,250 SF

      2610 Bridgeport W Way

      SHOPPING CENTER, STRIP CENTER • 19,250 SF
      2610 Bridgeport W Way, Tacoma, WA 98466-4720
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    • Value Estimation by Request
      6,830 SF

      2805 Bridgeport W Way

      SHOPPING CENTER, STRIP CENTER • 6,830 SF
      2805 Bridgeport W Way, University Place, WA 98466-4640
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    • Value Estimation by Request
      11,280 SF

      7315 27th W St

      SHOPPING CENTER, STRIP CENTER • 11,280 SF
      7315 27th W St, University Place, WA 98466-4608
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    • Value Estimation by Request
      29,281 SF

      3842nd Bridgeport W Way

      SHOPPING CENTER, STRIP CENTER • 29,281 SF
      3842nd Bridgeport W Way, Tacoma, WA 98466
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    • Value Estimation
      $280,000
      8,175 SF

      2310 Mildred W St

      SHOPPING CENTER, STRIP CENTER • 8,175 SF
      2310 Mildred W St, University Place, WA 98466-6036
      View Details

    Similar Nearby for Sale

    • $1,700,000
      5,634 SF

      Turn-Key Restaurant Ready For Sale

      Restaurant with hood, grease trap, kitchen equipment, and bar.
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    • $1,295,000
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      Iconic University Place Cafe Building

      Prime retail property near Chambers Bay with development potential.
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    • $1,890,000

      University Place Office Space Available

      Office space for sale in University Place, Washington.
      4109 Bridgeport Way W, University Place, WA 98466
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    • $4,750,000
      143,748 SF

      3.3 AC IOS Yard

      3.3 AC IOS Yard available for sale or lease.
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    • $1,995,000

      Income Producing University Place Office

      Well-kept office property in prime University Place location.
      6706-6711 Regents Blvd, Tacoma, WA 98466
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    • $6,950,000
      204,849 SF

      University Place Development Opportunity

      Land suitable for multifamily or light industrial development.
      6802 27Th Street Ct W, University Place, WA 98466
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    Similar Nearby for Lease

    • $33 SF/Yr
      16,750 SF

      Retail Pad Building with Drive-Thru

      Retail pad building with drive-thru, loading door, and parking.
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    • Contact for pricing
      1,213 SF

      Former Restaurant Space Available

      Restaurant/Retail space in mixed-use project anchored by Whole Foods.
      3515 Bridgeport Way West, University Place, WA 98466
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    • $995 /Mo
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      University Place Office Space

      800 SF heated storage space available for rent.
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    • $0.72 SF/Yr
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      Fife Commerce Center Industrial Facility

      Class A industrial facility with cross-loading dock doors and trailer parking.
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    • $24 SF/Yr
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      University Place Office Space Available

      High-visibility office space in University Place with ample parking.
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    • $12 SF/Yr
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      University Place Office Space Available

      1,570 SF office space with high visibility and parking.
      1905 Bridgeport Way W, University Place, WA 98466
      View Details
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    6720 Regents Blvd
    Tacoma, WA 98466-5400
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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