Medical Building w/Apartments on Busy Intersection - projected 8.11% Cap!

$648,000

University Place, WA

Property Description

 

Incredible opportunity for this commercial space on Bridgeport Way at a major intersection in the heart of University Place.

 

2 levels recently updated with the potential for multiple tenants and a great owner/­user building. This multi-use location has an upstairs is currently set up as a medical office with reception, office, and multiple patient rooms.

 

Downstairs features two residential apartments around 670 SF each. Each apartment currently rents for $900 a month. Upstairs could rent for about $2,400 a month which would bring in a total of $4,300 a month in rents for a 8.11% cap.

 

The building features 10 parking spaces and a fully fenced yard for the two apartments.

** Please do not disturb the tenants **

Call to schedule a tour - (253) 509-0449.

Highlights

  • Available Now!

  • Projected Cap Rate of 8.11%

  • Gross Revenue: $58,367

  • Operating Expenses: $5,837

  • NOI: $52,530

  • Built in 1970

  • Updated in 2013

  • Prime location on busy intersection in University Place

  • Includes 2 apartments with fully fenced yards

  • 10 Off street parking stalls

Amenities

  • Bus line

  • Signage

  • 24 Hour Access

  • Air Conditioning

  • Fenced Lot

  • Fully Carpeted

  • Hardwood Floors

  • Kitchen

  • Metro/Subway

  • Monument Signage

  • Natural Light

  • Outdoor Seating

  • Partitioned Offices

  • Reception

  • Recessed Lighting

  • Security System

  • Shower Facilities

Contact us to find out more

Property Details

  • Tax ID: 9505000010

  • Zoning: Multi Use Commercial

  • Building Size: 2,880 SF

  • Finished Basement: 1,404 SF

  • 1st Floor: 1,476 SF

  • Lot Size: 0.19 AC / 8,313 SF

  • Title is open with Rainier Title (Gig Harbor) File #763070RT

Location

Each Office Is Independently Owned and Operated.
© 2020 by The Wynn Group 

A division of KW Commercial

11505 Burnham Dr NW, Suite 201

Gig Harbor, WA 98332