4109 Bridgeport Way University Place, WA 98466

This exceptional investment opportunity encompasses a 2.12-acre commercial land parcel in University Place, Washington, located at 4109 Bridgeport Way W, 98466. The property includes a 10,779 square foot office building currently 95% leased to a mix of tenants, providing immediate rental income. The land is zoned MU-U75, allowing for the development of up to a seven-story multi-family building, with potential for approximately 122 units. The three parcels (APN: 4002490020, 4002490030, 4002490040) present a flexible investment strategy. Developers can leverage existing rental income during the planning and entitlement phases of a multi-family project. Alternatively, investors can focus on improving net operating income (NOI) through longer-term office leases at market rates. The existing office space also presents an owner-user option. The asking price for this prime development site is $3,000,000, with a land value of $32.63 per square foot. This property sits at the intersection of 40th Street and Bridgeport Way, offering excellent visibility and accessibility. The opportunity to combine immediate income generation with significant long-term development potential makes this a truly unique investment.