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Property profile & analytics
OFF-MARKET
Estimated value
$6,000,000
Medical Office Space
7210 40th W St, University Place, WA 98466-4319
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1485002
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,069 SF
Lot
1.31 ac (57,151 SF)
Zoning code
MUO
APN
220154103
UPID
US90-1485002
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.64M
Comparable Approach
Comparable
$4.36M
Blend (final)
Blend
$6.00M
Owner & transaction history
Everwood Medical Plaza LLC · 5 yrs held
Everwood Medical Plaza LLC
since 2020
Last sale
$6.6M
7 recorded transactions
Zoning & alternative use
MUO · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.9M
+73.3%
Restaurant
$8.3M
+60.0%
Auto repair, garage
$7.8M
+50.9%
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
$7,520,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,020,000
6.5%
$4,635,000
7%
$4,305,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,155,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$8,935,000
Change: +73% · Conversion: Difficult
RESTAURANT
$8,250,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,780,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$6,360,000
Change: +23% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,315,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,235,000
Change: +21% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,655,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$6.00M
Range $5.40M – $6.60M · ±10% · vs last sale $6.55M (Nov 30 2020)
Last sale anchor
$6.55M
Nov 30 2020
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
$285 / 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
$53,823
Tax year 2024
Assessed value
$4,526,100
Assessed 2024
Previous assessed
$4,526,100
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,507,000
Assessed improvement
$3,019,100
Land market value
$1,507,000
Improvement market value
$3,019,100
Total market value
$4,526,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
21,069 SF
Lot
1.31 ac (57,151 SF)
Zoning code
MUO
APN
220154103
UPID
US90-1485002
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUO · University Place, WA
Zoning MUO · permitted uses
MUO · 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
MEDICAL BUILDING Current
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.9M
RESTAURANT
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$7.8M
RETAIL STORES
Est. value
$6.4M
WAREHOUSE, STORAGE
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$6.2M
INDUSTRIAL (GENERAL)
Est. value
$4.7M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
1.31 ac
Current owner
From public records · entity-resolved
Everwood Medical Plaza LLC
Entity
Mailing address
3906 S 74TH ST, TACOMA, WA 98409-1001
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2020
$6,550,000
Everwood Medical Plaza LLC
Marshall D Longtin SR.
Warranty Deed
$4,275,000 · Heritage Southeast Bank
Jun 17, 2019
—
Longtin Family Living Trust
Longtin SR LLC
Quit Claim Deed
related
—
Oct 7, 2016
$5,700,000
Longtin SR LLC
40th & Bridgeport LLC
Warranty Deed
$3,990,000 · Spokane Teachers Cu
Dec 17, 2004
—
Bridgeport LLC
—
Trustees Deed
related
$2,820,000 · Venture Bank
Nov 23, 2004
$17,000
City Of University Place
40th Bridgeport LLC
Warranty Deed
—
Apr 18, 2003
$319,935
Rush Development INC
University Place Water Co
Grant Deed
—
—
—
40th & Bridgeport LLC
—
Deed Of Trust
related
$3,283,200 · Intervest Mortgage Co LLC
—
—
Rush Development Co INC
—
Deed Of Trust
related
$300,000 · Valley 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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