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Property profile & analytics
OFF-MARKET
Estimated value
$2,615,000
Retail space
2650 Bridgeport W Way University Place, WA 98466-4720
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0814787
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,393 SF
Lot
1.28 ac (55,887 SF)
Zoning code
NC
APN
6470000011
UPID
US90-0814787
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
by Request
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$2.62M
Owner & transaction history
New Bridgeport I LLC
New Bridgeport I LLC
1 recorded transaction
Zoning & alternative use
NC · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Neighborhood Commercial (NC). To help achieve a mix of commercial uses that primarily serves the needs of local residents and businesses, the Neighborhood Commercial classification applies to the intersections of 67th Avenue West and Bridgeport Way, and Cirque Drive and Orchard Street. The NC areas are compact centers that provide a mix of retail sales, pers…
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
21.99 ac
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,885,000
6.5%
$2,665,000
7%
$2,475,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,345,000
Current use
WAREHOUSE, STORAGE
$4,310,000
Change: -1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,260,000
Change: -2% · Conversion: Easy
MEDICAL BUILDING
$3,520,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.62M
Range $2.35M – $2.88M · ±10%
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
$182 / 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
$42,624
Tax year 2024
Assessed value
$3,451,100
Assessed 2024
Previous assessed
$3,451,100
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,342,800
Assessed improvement
$2,108,300
Land market value
$1,342,800
Improvement market value
$2,108,300
Total market value
$3,451,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
14,393 SF
Lot
1.28 ac (55,887 SF)
Zoning code
NC
APN
6470000011
UPID
US90-0814787
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC · University Place, WAZoning NC · permitted uses
NC · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Neighborhood Commercial (NC). To help achieve a mix of commercial uses that primarily serves the needs of local residents and businesses, the Neighborhood Commercial classification applies to the intersections of 67th Avenue West and Bridgeport Way, and Cirque Drive and Orchard Street. The NC areas are compact centers that provide a mix of retail sales, personal services, professional offices, public parks, community centers and cultural services, government services, and vehicle repair and service that serve the daily needs of the portion of the City where they are located. Residential development is limited to adult family homes, emergency shelter, transitional housing, emergency housing, permanent supportive housing, bed and breakfasts, and attached single-family housing. Screening, buffers, landscaping, and other design elements shall be incorporated into all development to mitigate adverse impacts that may be associated with the transition between the Neighborhood Commercial zones and adjoining residential zones. A maximum building height of 40 feet is allowed in the NC zone. Landscaping, sidewalks and public open spaces shall be provided to encourage a pedestrian-friendly atmosphere. 8.
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
21.99 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.5M
RETAIL STORES Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
New Bridgeport I LLC
Entity
Mailing address
300 WILMOT RD, DEERFIELD, IL 60015-4614
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
New Bridgeport I LLC
—
Deed Of Trust
related
$4,327,000 · Hartford Life & Accident Insur
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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