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.

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** Please do not disturb the tenants **

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

Highlights

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• 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

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• Bus line

• Signage

• 24 Hour Access

• Air Conditioning

• Fenced Lot

• Fully Carpeted

• Hardwood Floors

• Kitchen

• Metro/Subway

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• Monument Signage

• Natural Light

• Outdoor Seating

• Partitioned Offices

• Reception

• Recessed Lighting

• Security System

• Shower Facilities

Property Details

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• 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

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