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Property profile & analytics
FOR LEASE
Strip malls
1905 Bridgeport Way W, University Place, WA 98466
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0801976
For Lease
1 / 2
$12 SF/Yr
1905 Bridgeport Way W, University Place, WA 98466
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
WOOD FRAME
Total area
13,857 SF
Lot
0.69 ac (29,980 SF)
Zoning code
MU
APN
220101008
UPID
US90-0801976
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.13M
CAP Approach
CAP
$3.08M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.13M
Owner & transaction history
Jasy LLC · 2 yrs held
Jasy LLC
since 2024
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
MU · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs University Place submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs University Place submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,125,000
ML approach
$3,125,000
CAP Approach
CAP Return
Estimation
6%
$3,330,000
6.5%
$3,075,000
7%
$2,855,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,120,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$3.13M
Range $2.81M – $3.44M · ±10% · vs last sale $3.13M (Jan 31 2024)
Last sale anchor
$3.13M
Jan 31 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$226 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$35,274
Tax year 2024
Assessed value
$2,822,000
Assessed 2024
Previous assessed
$2,822,000
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$996,600
Assessed improvement
$1,825,400
Land market value
$996,600
Improvement market value
$1,825,400
Total market value
$2,822,000
Applied tax rate
752.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2002
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
2
Units
7
Total area
13,857 SF
Lot
0.69 ac (29,980 SF)
Zoning code
MU
APN
220101008
UPID
US90-0801976
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MU · University Place, WA
Zoning MU · permitted uses
MU · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
University Place. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$5.1M
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
7
Lot
0.69 ac
Current owner
From public records · entity-resolved
Jasy LLC
Entity
Mailing address
4717 S 19TH ST STE #101, TACOMA, WA 98405-1167
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2024
—
Jasy LLC
—
Deed
related
$1,850,000 · Keypoint Cu
Jan 31, 2024
$3,125,000
Jasy LLC
Kupuna Tuna LLC
Warranty Deed
$1,850,000 · Keypoint Cu
Oct 15, 2019
—
Kupuna Tuna LLC
Clare J Cecich
Warranty Deed
—
Nov 26, 2018
—
Lmrk Propco 3 LLC
—
Grant Deed
related
$125,440,000 · Wilmington Trust (ct)
Jun 1, 2016
$2,300,000
Clare J Cecich
Bridgeport Gardens LLC 1
Warranty Deed
—
Nov 28, 2011
—
Donald G Hovanscek
Hovanscek,joan C
Quit Claim Deed
related
—
Sep 10, 2001
—
Donald G Hovancsek
—
Trustees Deed
related
$1,285,000 · Anchor Savings Bank
Jan 19, 2001
$100,000
Donald G Hovancsek
Bridgeport LLC I
Grant Deed
—
Jan 9, 2001
—
Tacoma City (wa)
Bridgeport LLC 1
Grant Deed
related
—
Oct 16, 1995
$300,000
Kwang R Chang
University Builders Supply INC
Grant Deed
$150,000 · Northwestern Bank NA
—
—
Bridgeport LLC I
—
Deed Of Trust
related
$1,675,000 · Rainier Pacific Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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