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    7350 Cirque Dr West University Place, WA 98467
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    Property profile & analytics

    7350 Cirque Dr West University Place, WA 98467

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    • Office Spaces
    • 15,839 SF
    • 0.61 lot acres
    For Lease
    $2,460,000
    View Listing →
    University Place Office Space For Lease
    $2,460,000
    6,950 SF

    University Place Office Space

    Office building with 6,950 square feet available for rent.

    7350 Cirque Drive West, University Place, WA 98467
    View Listing
    Property ID
    US90-0723266
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 7350 Cirque Dr West

    Year built
    2003
    Construction
    WOOD FRAME
    Lot size
    0.61 lot acres
    Property size
    15,839 SF
    Zone code
    R1
    Property type
    Office Spaces
    APN
    220221034
    APU
    220221034

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,645,000
      6.5%
      $3,365,000
      7%
      $3,125,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,663,000
      Market price range: $568k - $2.88M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    University Place
    County
    Pierce
    State
    Washington
    Longitude
    -122.536
    Latitude
    47.2132
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $34,414
    $527,600
    $2,400,900
    $2,928,500
    -
    $527,600
    $2,400,900
    $2,928,500

    Comparable in this City

    • Value Estimation
      $2,195,000
      13,913 SF

      5350 Orch W St

      OFFICE (GENERAL) • 13,913 SF
      5350 Orch W St, University Place, WA 98467-4817
      View Details
    • Value Estimation
      $875,000
      6,106 SF

      6403 Lakewood W Dr

      OFFICE (GENERAL) • 6,106 SF
      6403 Lakewood W Dr, University Place, WA 98467-3331
      View Details
    • Value Estimation
      $555,000
      1,227 SF

      6927 Lakewood Dr W Ste C1

      OFFICE (GENERAL) • 1,227 SF
      6927 Lakewood Dr W Ste C1, University Place, WA 98467-3247
      View Details
    • Value Estimation
      $1,395,000
      6,849 SF

      4970 Bridgeport W Way

      OFFICE (GENERAL) • 6,849 SF
      4970 Bridgeport W Way, Tacoma, WA 98467-2029
      View Details
    • Value Estimation
      $11,960,000
      49,980 SF

      9850 64th W St

      OFFICE (GENERAL) • 49,980 SF
      9850 64th W St, University Place, WA 98467-1078
      View Details
    • Value Estimation by Request
      1,240 SF

      6927 Lakewood Dr W Ste C4

      OFFICE (GENERAL) • 1,240 SF
      6927 Lakewood Dr W Ste C4, Tacoma, WA 98467-3247
      View Details

    Similar Nearby for Sale

    • $1,879,000
      7,516 SF

      Two-Story Office Building For Sale

      7,516 SF office building with new roof and HVAC.
      5909 Orchard St W, Tacoma, WA 98467
      View Details
    • $550,000

      Two-Story Office Condo For Sale

      Two-story office condo with private offices and conference room.
      6923 Lakewood Dr W, Tacoma, WA 98467
      View Details
    • $1,625,000
      6,800 SF

      Mixed-Use Property in University Place

      Established mixed-use property with flexible space in Tacoma, Washington.
      5314-5316 Orchard St W, University Place, WA 98467
      View Details
    • $1,549,500
      6,106 SF

      Two-Story Office Building Near Tacoma

      Two-story office building with ample parking near Meadow Park.
      6403 Lakewood Dr W, University Place, WA 98467
      View Details
    • $1,549,500
      6,104 SF

      Office Building with I-5 Access

      Office building offering excellent visibility and convenient I-5 access.
      6403 Lakewood Dr W, Tacoma, WA 98467
      View Details

    Similar Nearby for Lease

    • $11,274 /Mo
      7,516 SF

      Two-Story Office Space Available

      7,516 SF office space for rent with 25 surface spaces.
      5909 Orchard St W, Tacoma, WA 98467
      View Details
    • Contact for pricing
      6,950 SF

      University Place Office Space

      Office building with 6,950 square feet available for rent.
      7350 Cirque Dr West, University Place, WA 98467
      View Details
    • $10,767 /Mo
      6,800 SF

      Move-in Ready Office Suite

      Office suite with private offices, conference rooms, and kitchen.
      5314 Orchard St W, University Place, WA 98467
      View Details
    • $3,412 /Mo
      1,780 SF

      University Place Retail Space Available

      Retail space in University Place with high visibility.
      5502 Orchard St W, University Place, WA 98467
      View Details

    Property Visit Statistics

    • Visits by month
      9.1k
    • Visitors by month
      6.7k
    • Avg Time on site
      7 min
    View Listing
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    University Place, WA 98467
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    7350 Cirque Dr West, University Place, WA, 98467
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