7912 27th Street W, University Place, WA 98466
- $1,000,000
Listing courtesy of Better Properties N. Proctor. Selling Office: Better Properties Real Estate.
- Sold Price
- $1,000,000
- List Price
- $1,295,000
- Status
- SOLD
- MLS#
- 2358634
- Closing Date
- Jul 29, 2025
- Days on Market
- 76
- Annual Tax Ammount
- 15955
- Internet Provider
- Multiple
Property Description
Phase I & II ENVIROMENTAL REPORT noted "no additional investigation..." (reports available for review). Iconic Pine Cone Cafe Bldg. is located in the heart of all things UP/Chambers Bay. Check w/city of UP about the proposed apartments to be built nearby which could generate a sizable uptick in visitors to the building's businesses. Newer upgrades include: 3 mini splits & TPO membrane roof installed in 2020. Additional heating: commercial gas/electric rooftop package unit, & wall mounted electrical heaters. There is a 120 sq ft space could be developed (has a bathroom) currently used as storage. All other units rented (see Rent Roll for more info.) 40 parking spaces, high walkability. Great opportunity to own a sweet part of UP history.
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Additional Information
- Community
- University Place
- Building Condition
- Good
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1953
- # of Assigned Spaces
- 40
- Roof
- See Remarks
- Tax Year
- 2025
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Flooring
- Concrete, Laminate, Vinyl, Carpet
- Driving Directions
- From Bridgeport heading north turn left on 27th Street West in a half mile the building is on the left.
- Other Expenses
- 2500
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $82,202
- Gross Adjusted Income
- $109,140
- Gross Scheduled Income
- $109,140
- Water/Sewer/Garbage Expenses
- $3,900
- Cap Rate
- 6.35
- Total Expenses
- $26,938
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.