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Property profile & analytics
FOR SALE
Office Spaces
6403 Lakewood Dr W University Place, WA 98467
Individually Owned
22-yr Hold
~
Est. High Equity
Property ID
US90-0899670
For Sale
1 / 7
$1,549,500
6403 Lakewood Dr W, University Place, WA 98467
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Property summary
AI-generated overview
This exceptional two-story office building, located at 6403 Lakewood Dr W, University Place, WA 98467, offers 6,106 square feet of versatile space ideal for traditional, medical, or creative office uses. Built in 1986 and extensively renovated in 2022 and 2023, the property features new flooring, paint, lighting, a new roof, and updated landscaping. The 0.47-acre lot (20,477 square feet) provides ample parking. Interior highlights include numerous private offices, a breakroom, a conference room, and a welcoming reception area. Its prime corner location on Lakewood Drive offers excellent visibility and accessibility, situated directly across from Meadow Park Golf Course, and benefits from its location on the border of Tacoma and University Place. The property's APN is 0220265004. This exceptional opportunity is available for $1,649,000.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1986
Construction
WOOD FRAME
Total area
6,106 SF
Lot
0.47 ac (20,477 SF)
Zoning code
MUD
APN
220265004
UPID
US90-0899670
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
$552k
Blend (final)
Blend
$875k
Owner & transaction history
Ufcw Local 367 · 22 yrs held
Ufcw Local 367
since 2003
5 recorded transactions
Zoning & alternative use
MUD · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$143 / 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
$11,985
Tax year 2024
Assessed value
$972,700
Assessed 2024
Previous assessed
$972,700
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$534,900
Assessed improvement
$437,800
Land market value
$534,900
Improvement market value
$437,800
Total market value
$972,700
Applied tax rate
275.0000
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 Sale
Year built
1986
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Total area
6,106 SF
Lot
0.47 ac (20,477 SF)
Zoning code
MUD
APN
220265004
UPID
US90-0899670
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUD · University Place, WA
Zoning MUD · permitted uses
MUD · 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
1986
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Ufcw Local 367
Individual
Mailing address
6403 LAKEWOOD DR W, UNIVERSITY PLACE, WA 98467-3331
Ownership since
2003
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
Oct 10, 2024
—
United Food & Com Workers Union Loc
—
Deed
related
$686,000 · Heritage Southeast Bank
Aug 4, 2003
$692,222
Ufcw Local 367
Venture,orchard J
Grant Deed
—
—
—
Joint Venture Orchard
—
Deed Of Trust
related
$16,000 · Heritage Bank
—
—
United Food
—
Deed Of Trust
related
$607,329 · Heritage Savings Bank Fsb
—
—
Orcahrd Joint Venture
—
Deed Of Trust
related
$248,000 · Heritage 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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