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Property profile & analytics
OFF-MARKET
Estimated value
$1,840,000
Office Spaces
2121 70th W Ave University Place, WA 98466-7668
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1401951
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Construction
WOOD FRAME
Total area
10,436 SF
Lot
0.77 ac (33,457 SF)
Zoning code
IB
APN
6465000068
UPID
US90-1401951
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
$1.61M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$1.84M
Owner & transaction history
Carroll Properties Up LLC · 4 yrs held
Carroll Properties Up LLC
since 2021
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
IB · 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
$1,540,000
ML approach
$1,610,000
CAP Approach
CAP Return
Estimation
6%
$2,400,000
6.5%
$2,215,000
7%
$2,055,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,555,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.84M
Range $1.66M – $2.02M · ±10% · vs last sale $1.92M (Aug 13 2021)
Last sale anchor
$1.92M
Aug 13 2021
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
$176 / 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
$21,548
Tax year 2024
Assessed value
$1,772,400
Assessed 2024
Previous assessed
$1,772,400
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$784,300
Assessed improvement
$988,100
Land market value
$784,300
Improvement market value
$988,100
Total market value
$1,772,400
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1987
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
4
Total area
10,436 SF
Lot
0.77 ac (33,457 SF)
Zoning code
IB
APN
6465000068
UPID
US90-1401951
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
IB · University Place, WA
Zoning IB · permitted uses
IB · 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
MEDICAL BUILDING
Est. value
$2.6M
MEDICAL BUILDING
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
1987
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
4
Lot
0.77 ac
Current owner
From public records · entity-resolved
Carroll Properties Up LLC
Entity
Mailing address
17700 BCH DR NE, LAKE FOREST PARK, WA 98155-4517
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2021
$1,917,000
Carroll Properties Up LLC
Westside Professional Partnership
Warranty Deed
—
Feb 3, 2017
—
Tolles,ross E Trust
Tolles Ross E
Quit Claim Deed
related
—
Jul 5, 2016
—
Westside Professional Ptshp
—
Deed
related
$371,266 · Columbia St Bk
—
—
Westside Professional Ptshp
—
Deed Of Trust
related
$371,266 · Columbia St Bk
—
—
Westside Professional Ptshp
—
Deed Of Trust
related
$192,500 · Northwest Commercial Bank
—
—
Westside Professional Partn
—
Deed Of Trust
related
$93,000 · Columbia State Bank
—
—
Patrick C Comfort
—
Deed Of Trust
related
$35,000 · Comfort Shirley F
—
—
Westside Professional Ptshp
—
Deed Of Trust
related
$700,000 · Columbia State 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.
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