7912 27th W St University Place, WA 98466-3405
This exceptional mixed-use property, known as PCC Plaza, presents a compelling investment opportunity in the thriving University Place, WA market. Located at 7912 27th St W, 98466, this 7,263 square foot building sits on a 21,850 square foot lot and boasts a 7.00% cap rate with a current NOI of $83,232. The property features five units, all currently occupied at 100% occupancy, generating a price per square foot of $165.22. Built in 1953, the single-story building includes 38 parking spaces, a significant asset in this busy commercial district. Recent upgrades include a new TPO membrane roof installed in 2020. The property benefits from its prime location on 27th Street West, between Bridgeport and Grandview, close to Chambers Bay and other University Place attractions. The city's recent installation of new sidewalks enhances the area's walkability and aesthetic appeal. Heating is provided by two commercial gas/electric rooftop package units, supplemented by two mini-split and baseboard/wall-mounted electric heaters. An additional 120 square foot space, currently used for owner storage and including a bathroom, offers potential for future development. The property is zoned for commercial use. Detailed information, including an inspection report and sewer scope, is available upon request. Please do not disturb tenants.
Mixed Use - Office (MU-O). It is the City’s intent to create a well-balanced, well-organized combination of land uses that recognizes historic development patterns and protects adjoining residential neighborhoods from incompatible uses. The MU-O classification serves as a transition zone providing separation between more intense commercial activities and res…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
MU · University Place, WAMixed Use - Office (MU-O). It is the City’s intent to create a well-balanced, well-organized combination of land uses that recognizes historic development patterns and protects adjoining residential neighborhoods from incompatible uses. The MU-O classification serves as a transition zone providing separation between more intense commercial activities and residential areas at the corner of 54th Avenue and Bridgeport Way. A maximum building height of 45 feet is allowed in the MU-O zone. A base density of 60 dwelling units per acre is allowed through the design standard review process, when a project is designed consistent with the design standards adopted by reference in Chapter 19.50 UPMC. Uses allowed include multi-family housing, adult family homes, Level I group homes, transitional housing, permanent supportive housing, nursing homes and assisted living facilities, day care, religious assembly, professional offices, limited retail uses, public parks, community centers and cultural services, government services, and distribution and collection utilities. New multifamily will be allowed only in conjunction with other permitted commercial uses. Screening, buffers, landscaping, and other design elements shall be incorporated into all development to mitigate adverse impacts that may be associated with the transition between different densities and land uses. Sidewalks and public open spaces shall be provided to encourage a pedestrian-friendly atmosphere and connections with transit stops, schools, shopping, services, and recreational facilities. 6.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.