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Property profile & analytics
FOR LEASE
Office Spaces
3929 Bridgeport Way W University Place, WA 98466
Entity Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1219392
For Lease
$24 SF/Yr
3929 Bridgeport Way W, University Place, WA 98466
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,509 SF
Lot
0.53 ac (22,936 SF)
Zoning code
TC
APN
220151237
UPID
US90-1219392
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
$4.78M
Comparable Approach
Comparable
$5.72M
Blend (final)
Blend
$4.45M
Owner & transaction history
Up Cornerstone LLC · 15 yrs held
Up Cornerstone LLC
since 2010
6 recorded transactions
Zoning & alternative use
TC · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.8M
+2.0%
Warehouse, storage
$6.7M
+1.2%
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%
$5,175,000
6.5%
$4,780,000
7%
$4,435,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,665,000
Current use
RETAIL STORES
$6,795,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$6,745,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$5,510,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$4.45M
Range $4.00M – $4.89M · ±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
$197 / 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
$47,229
Tax year 2024
Assessed value
$4,000,800
Assessed 2024
Previous assessed
$4,000,800
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$958,400
Assessed improvement
$3,042,400
Land market value
$958,400
Improvement market value
$3,042,400
Total market value
$4,000,800
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
For Lease
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
3
Total area
22,509 SF
Lot
0.53 ac (22,936 SF)
Zoning code
TC
APN
220151237
UPID
US90-1219392
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · University Place, WA
Zoning TC · permitted uses
TC · 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
COMMERCIAL (GENERAL) Current
Est. value
$6.7M
RETAIL STORES
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.7M
MEDICAL BUILDING
Est. value
$5.5M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.53 ac
Current owner
From public records · entity-resolved
Up Cornerstone LLC
Entity
Free & Clear · 15 yrs held
Mailing address
3803 BRIDGEPORT WAY W, UNIVERSITY PLACE, WA 98466-4415
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2017
—
Up Cornerstone LLC
—
Deed
related
$10,400,000 · Harborstone Cu
Nov 30, 2010
—
Up Cornerstone LLC
Wwr Properties
Quit Claim Deed
related
—
Sep 30, 2010
—
Up Cornerstone LLC
Wwr Properties
Quit Claim Deed
related
$6,500,000 · Genworth Life & Annuity Ins Co
Jul 9, 2010
—
Wwr Properties
—
Trustees Deed
related
$4,230,000 · Intervest Mortgage Co LLC
—
—
Wwr Properties
—
Deed Of Trust
related
$4,350,000 · Intervest Mortgage Co LLC
—
—
Up Cornerstone LLC
—
Deed Of Trust
related
$10,400,000 · Harborstone Cu
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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