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Property profile & analytics
OFF-MARKET
Commercial land
6024 Hannah Pierce W Rd University Place, WA 98467-3530
Individually Owned
7-yr Hold
Free & Clear
Property ID
US90-1210847
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
0.21 ac (9,148 SF)
Zoning code
MFH
APN
220234185
UPID
US90-1210847
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Carl O Peterson · 7 yrs held
Carl O Peterson
since 2019
3 recorded transactions
Zoning & alternative use
MFH · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Include multifamily housing, attached and detached single-family/duplex housing, nursing homes and assisted living facilities, mobile and manufactured housing, adult family homes, Level I group homes, schools, public and private parks, community centers, family day care, religious assembly, appropriate home occupations, and distribution and collection utilit…
Zone name
Multi Family Residential High
General category
CIVIC_INSTITUTIONAL
Zone area
58.83 ac
Source
Realmo
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
$74
Tax year 2024
Assessed value
$5,400
Assessed 2024
Previous assessed
$5,400
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$5,400
Land market value
$5,400
Total market value
$5,400
Applied tax rate
751.0000
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
Heating
NONE
Lot
0.21 ac (9,148 SF)
Zoning code
MFH
APN
220234185
UPID
US90-1210847
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MFH · University Place, WAZoning MFH · permitted uses
MFH · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Include multifamily housing, attached and detached single-family/duplex housing, nursing homes and assisted living facilities, mobile and manufactured housing, adult family homes, Level I group homes, schools, public and private parks, community centers, family day care, religious assembly, appropriate home occupations, and distribution and collection utilities
Zone name
Multi Family Residential High
General category
CIVIC_INSTITUTIONAL
Zone area
58.83 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
0.21 ac
Current owner
From public records · entity-resolved
Carl O Peterson
Individual
Free & Clear · 7 yrs held
Mailing address
14916 5TH AVE NE, SHORELINE, WA 98155-6910
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Jun 24, 2019
—
Carl O Peterson
Lembo,annalisa
Quit Claim Deed
related
—
May 17, 2013
—
Carl O Peterson
Bigger Gene W JR
Quit Claim Deed
related
—
Feb 8, 2008
—
Carl O Peterson
Bigger,celestine
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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