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Property profile & analytics
FOR SALE
Turn key restaurants
2122 Mildred St W University Place, WA 98466
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1071299
No photos on file
For Sale
$1,700,000
2122 Mildred St W, University Place, WA 98466
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1979
Construction
WOOD FRAME
Total area
4,922 SF
Lot
0.78 ac (34,028 SF)
Zoning code
C
APN
6465000049
UPID
US90-1071299
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
E & A Property Investment Firm LLC · 1 yrs held
E & A Property Investment Firm LLC
since 2025
5 recorded transactions
Zoning & alternative use
C · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$15,945
Tax year 2024
Assessed value
$1,194,100
Assessed 2024
Previous assessed
$1,194,100
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$673,400
Assessed improvement
$520,700
Land market value
$673,400
Improvement market value
$520,700
Total market value
$1,194,100
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1979
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Total area
4,922 SF
Lot
0.78 ac (34,028 SF)
Zoning code
C
APN
6465000049
UPID
US90-1071299
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C · University Place, WA
Zoning C · permitted uses
C · 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.
Building & site characteristics
From public records
Year built
1979
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
E & A Property Investment Firm LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3519 HARBORVIEW DR APT #3, GIG HARBOR, WA 98332-2183
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2025
$1,550,000
E & A Property Investment Firm LLC
2122 Mildred Street LLC
Warranty Deed
—
Sep 30, 2019
$1,150,000
2122 Mildred Street LLC
Mildred Street Real Estate Ventures
Bargain And Sale Deed
$800,000 · Heritage Bank
May 15, 2015
$925,000
Mildred Street Real Estate Ven
Dickens Fred E & Marina
Warranty Deed
$1,075,000 · Fred E & Marina J Dickens
Sep 3, 2002
$800,000
Fred D Dickens
Engine House LLC
Grant Deed
$460,000 · Sterling Savings Bank
Nov 15, 2000
$575,000
Fred E Dickens
Percentage Investors
Grant Deed
$460,000 · Sterling Savings 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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