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Property profile & analytics
OFF-MARKET
Estimated value
$2,845,000
Commercial land
2211 68th Ave Ct Wd University Place, WA 98466-6158
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1459799
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1983
Construction
WOOD FRAME
Total area
39,221 SF
Lot
3.98 ac (173,369 SF)
Zoning code
C
APN
6465000065
UPID
US90-1459799
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
$2.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$2.85M
Owner & transaction history
Crp Wp Alta University Place Owner · 4 yrs held
Crp Wp Alta University Place Owner
since 2022
Last sale
$2.8M
3 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
Method
Estimation
Statistic approach
$2,900,000
ML approach
$2,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.85M
Range $2.56M – $3.13M · ±10% · vs last sale $2.80M (Mar 9 2022)
Last sale anchor
$2.80M
Mar 9 2022
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
$73 / 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
$37,770
Tax year 2024
Assessed value
$2,367,000
Assessed 2024
Previous assessed
$1,613,000
+46.7% YoY
Effective rate
1.60%
On assessed value
Assessed land
$2,367,000
Land market value
$2,367,000
Total market value
$2,367,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1983
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
39,221 SF
Lot
3.98 ac (173,369 SF)
Zoning code
C
APN
6465000065
UPID
US90-1459799
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C · University Place, WAZoning 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
Building & site characteristics
From public records
Year built
1983
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
3.98 ac
Current owner
From public records · entity-resolved
Crp Wp Alta University Place Owner
Individual
Mailing address
4075 N WILLIAMS AVE STE #400, PORTLAND, OR 97227-2093
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2022
$2,800,000
Crp Wp Alta University Place Owner
Lacatawa LLC
Bargain And Sale Deed
$49,036,207 · Zb NA
Mar 24, 2004
$2,200,000
Lacatawa LLC
Narrows Plaza Dev
Warranty Deed
$1,800,000 · Venture Bank
—
—
Lacatawa LLC
—
Deed Of Trust
related
$450,000 · Venture 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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