Northmarq is pleased to present Prestige Center, a 19-unit mixed-use asset comprised of 10 apartment units and 9 commercial suites located in University Place, a well-established submarket within the greater Tacoma area. Built in 1961, the property totals approximately 15,400 net rentable square feet, including 8,000 SF of residential space and 7,400 SF of commercial space. The residential component features a balanced mix of five one-bedroom units averaging 700 SF and five two-bedroom units averaging 900 SF. The property also includes 38 surface parking spaces, supporting both residential tenants and retail users. The asset is currently generating $209,664 in net operating income and is offered at a 6.35% in-place CAP rate, providing stable cash flow with embedded upside. Current rents

The building consists of ten residential units and nine commercial units totaling 15,083sf. The building is located on 27th Avenue which is a main east-west arterial in University Place. Additionally, the property is located two blocks east of Bridgeport Way - the main north-south arterial in University Place.

Mixed-Use, Street Retail, Salon/Spa