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Property profile & analytics
OFF-MARKET
Estimated value
$2,830,000
Flex space
949 F St University Place, WA 98464
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1226630
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1970
Construction
STEEL FRAME
Total area
33,678 SF
Lot
2.3 ac (100,101 SF)
Zoning code
M2
APN
8950000880
UPID
US90-1226630
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
$3.61M
Blend (final)
Blend
$2.83M
Owner & transaction history
Northwest Business Development Assn · 2 yrs held
Northwest Business Development Assn
since 2024
4 recorded transactions
Zoning & alternative use
M2 · 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
$2.83M
Range $2.55M – $3.11M · ±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
$84 / 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
$24,559
Tax year 2024
Assessed value
$2,210,100
Assessed 2024
Previous assessed
$2,210,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,199,700
Assessed improvement
$10,400
Land market value
$2,199,700
Improvement market value
$10,400
Total market value
$2,210,100
Applied tax rate
5.0000
Comparables
3 recent transactions · within 1.5 miComparable in this city
3 recent transactions
Comparable in this City
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1970
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
33,678 SF
Lot
2.3 ac (100,101 SF)
Zoning code
M2
APN
8950000880
UPID
US90-1226630
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M2 · University Place, WAZoning M2 · permitted uses
M2 · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1970
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
2.3 ac
Current owner
From public records · entity-resolved
Northwest Business Development Assn
Entity
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2024
—
Northwest Business Development Assn
2120 Investments LLC
Assignment Of Lease (leasehold Sale)
$2,660,000 · Northwest Business Development Associati
Mar 30, 2023
$6,500,000
2120 Investments LLC
Jerome E Mylet
Warranty Deed
$3,250,000 · Heritage Southeast Bank
Sep 6, 2022
—
Jerome E Mylet
Mylet Family Limited Partnership No
Intrafamily Transfer
related
—
Aug 5, 1997
—
Mylet Family LP #1
—
Deed Of Trust
related
$1,700,000 · Columbia State 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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