NEW! 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
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Available Now!
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Projected Cap Rate of 8.11%
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Gross Revenue: $58,367
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Operating Expenses: $5,837
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NOI: $52,530
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Built in 1970
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Updated in 2013
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Prime location on busy intersection in University Place
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Includes 2 apartments with fully fenced yards
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10 Off street parking stalls
Amenities
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Bus line
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Signage
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24 Hour Access
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Air Conditioning
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Fenced Lot
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Fully Carpeted
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Hardwood Floors
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Kitchen
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Metro/Subway
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Monument Signage
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Natural Light
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Outdoor Seating
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Partitioned Offices
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Reception
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Recessed Lighting
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Security System
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Shower Facilities
Contact us to find out more
Property Details
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Tax ID: 9505000010
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Zoning: Multi Use Commercial
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Building Size: 2,880 SF
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Finished Basement: 1,404 SF
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1st Floor: 1,476 SF
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Lot Size: 0.19 AC / 8,313 SF
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Title is open with Rainier Title (Gig Harbor) File #763070RT
Location