Single-Story Medical Office
For Sale
$2,200,000
10317 122ND Unit ABCD, Puyallup, WA 98374
Single-story medical/dental building with exam rooms, private offices, and waiting areas, zoned for medical and dental use.
Property Size7,800 SF
Price / SF$282.05
Days on Market342
Property Features for 10317 122ND Unit ABCD
General Information
Standard status
Active
Size
7,800 SF
Property subtype
Commercial
Building Details
Year Built
1986
Buildings
1
Stories
1
Building Size
7,800 SF
Listing Agency:
CENTURY 21 North Homes Realty
(206) 899-5155
Listed By:
Stuart M Anderson
(253) 604-6000
Source:
Skylineproperties
Added: Sep 17, 2025
Changed: Aug 23
Last Checked: Aug 24 at 6:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 North Homes Realty
Investment Insights
Based on property information with market context.
Single-story medical/dental building offering a highly functional layout for healthcare, specialty practices, or professional services. The interior includes multiple exam rooms, private offices, reception and waiting areas, and flexible treatment spaces. The property was previously used as a dental practice and includes existing equipment in place. Zoned for medical and dental use, the building is designed around patient flow.
Located on a high-visibility corridor with easy access and ample parking. The surrounding area is described as having strong demographics, supporting demand for medical and professional services.
For buyers or tenants seeking a medical/dental location with an operational floor plan already in place, this property offers a straightforward option centered on exam and treatment functionality.
Located on a high-visibility corridor with easy access and ample parking. The surrounding area is described as having strong demographics, supporting demand for medical and professional services.
For buyers or tenants seeking a medical/dental location with an operational floor plan already in place, this property offers a straightforward option centered on exam and treatment functionality.
Key Highlights
- Single‑story medical/dental building
- 7,800 SF medical/dental facility with patient‑flow layout
- Multiple exam rooms plus private offices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,602
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,212,040
$2.2M
Cap Rate 7%
$1,580,029
$1.6M
Cap Rate 9%
$1,228,911
$1.2M
Market Conditions
NOI Build-Up for 7,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$214.3K $27.48/SF
− Vacancy
−$30.0K −$3.85/SF
EGI
$184.3K $23.63/SF
− OpEx
−$73.7K −$9.45/SF
NOI
$110.6K $14.18/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,212,040
Cap Rate 7%
$1,580,029
Cap Rate 9%
$1,228,911
Alternative Uses
Best Use
Healthcare Medical
$1.58M
$1.38M – $1.84M
NOI $110,602 @ 7.0% cap · market cap 5.03%
Second Best
Office B
$1.58M
$1.38M – $1.84M
NOI $110,481 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,469 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 98374, WA
45,367
Population
16,645
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$108,854
Median Household Income
$56,744
Median Earnings
$1,925
Median Rent
$491,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - Single-story medical/dental building with exam rooms, private offices, and waiting areas, zoned for medical and dental use.
Where is this medical center located?
The property is located at 10317 122ND Unit ABCD Puyallup, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Single‑story medical/dental building; 7,800 SF medical/dental facility with patient‑flow layout; Multiple exam rooms plus private offices
