7912 27th St W
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7912 27th St W
7,263 SF 100% Leased Office Building University Place, WA 98466 £946,800 (£130/SF) 7% Net Initial Yield
Executive Summary
This is the iconic Pine Cone Cafe Building in University Place. All five units rented. Owner upgrades include a new TPO membrane roof installed in 2020. Prime location in a vibrant growing community. Situated on 27th Street West between Bridgeport and Grandview in University Place, close to Chambers Bay & everything UP. There are 38 parking spaces. The city installed new sidewalks which adds to the beauty & walkability of the 27th Street Business District. Heating for building are two commercial gas/electric rooftop package units, 2 mini-split & baseboard/wall mounted electrical heaters. Additional 120 sq ft space could be developed (has a bathroom) currently not rented used as owner storage.
Do not disturb tenants - no showings w/o an accepted offer. Email listing agent for copy of inspection report.
Do not disturb tenants - no showings w/o an accepted offer. Email listing agent for copy of inspection report.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
7,263 SF
Building Class
B
Year Built
1953
Price
£946,800
Price Per SF
£130
Net Initial Yield
7%
NOI
£66,276
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
7,263 SF
Building FAR
0.33
Land Acres
0.50 AC
Zoning
MU - Commercial
Parking
35 Spaces (4.82 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 of 1
Walk Score ®
Very Walkable (70)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 918020-0430 | Total Assessment | £689,507 (2024) |
| Land Assessment | £445,312 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £244,195 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
918020-0430
Land Assessment
£445,312 (2024)
Improvements Assessment
£244,195 (2024)
Total Assessment
£689,507 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
-
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7912 27th St W
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