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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Warehouses
6924 27th W St University Place, WA 98466-5299
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-2989759
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
STEEL FRAME
Total area
6,405 SF
Lot
0.57 ac (25,000 SF)
Zoning code
IB
APN
220104072
UPID
US90-2989759
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
$1.95M
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$1.95M
Owner & transaction history
Wagonmaster Washington INC · 1 yrs held
Wagonmaster Washington INC
since 2024
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
IB · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.7M
+41.5%
Restaurant
$2.5M
+30.7%
Auto repair, garage
$2.4M
+23.3%
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
$1,950,000
ML approach
$1,950,000
CAP Approach
CAP Return
Estimation
6%
$1,390,000
6.5%
$1,280,000
7%
$1,190,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,920,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,715,000
Change: +42% · Conversion: Moderate
RESTAURANT
$2,510,000
Change: +31% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,365,000
Change: +23% · Conversion: Easy
RETAIL STORES
$1,935,000
Change: +1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,895,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$1,565,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10% · vs last sale $1.95M (Sep 10 2024)
Last sale anchor
$1.95M
Sep 10 2024
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
$304 / 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
$21,974
Tax year 2024
Assessed value
$1,795,700
Assessed 2024
Previous assessed
$1,795,700
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$408,700
Assessed improvement
$1,387,000
Land market value
$408,700
Improvement market value
$1,387,000
Total market value
$1,795,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Units
2
Total area
6,405 SF
Lot
0.57 ac (25,000 SF)
Zoning code
IB
APN
220104072
UPID
US90-2989759
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
IB · University Place, WA
Zoning IB · permitted uses
IB · 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
WAREHOUSE, STORAGE Current
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.6M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1968
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Units
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Wagonmaster Washington INC
Entity
Mailing address
6924 W 27TH ST W, UNIVERSITY PLACE, WA 98466-5299
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2024
$1,949,999
Wagonmaster Washington INC
Gladys M Miller
Warranty Deed
$1,050,000 · William J Miller Trust
Sep 10, 2024
—
Gladys M Miller
Gladys M Miller
Intrafamily Transfer
related
—
Apr 20, 2018
—
Miller,gladys M Trust
Miller William J & G M Trust
Quit Claim Deed
related
—
Jun 16, 2009
—
Miller William J Trust
Miller W J & G M Living Trust
Quit Claim Deed
related
—
Jul 31, 2002
$235,007
Miller Trust
Dravis,theodore L
Grant Deed
—
—
—
Theodore L Dravis
—
Deed Of Trust
related
$170,000 · Individual
—
—
William J Miller
—
Deed Of Trust
related
$400,000 · Us Bank NA
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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