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14619 Purdy Dr NW, Gig Harbor, WA 98332
Commercial property in Purdy with excellent visibility and ample parking.
Property Size3,078 SF
Lot Size1.97 Acres
Price / SF$323.26
Days on Market568
Property Features for 14619 Purdy Dr NW
General Information
Standard status
Active
Size
3,078 SF
Lot size
1.97 Acres
Property subtype
OFFICE
Listing Agency:
G. Anderson Group, LLC
(360) 373-2343
Listed By:
Gary Anderson · License #43562
(360) 731-3739
Source:
Moodyscre
Added: Feb 20, 2025
Changed: Sep 9
Last Checked: Sep 11 at 11:03AM
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 G. Anderson Group, LLC
Investment Insights
Based on property information with market context.
This 3,078 square foot commercial property is located in Purdy and offers excellent visibility and ample space. The building is configured into two separate suites, providing flexibility for tenants or an owner-user. The layout includes approximately 12 offices and a dedicated reception area. This configuration is suitable for professional services, medical offices, or other businesses requiring a combination of private offices and client-facing space. The two suites can be combined into one large space. A large, paved parking lot provides convenient access for customers and employees. A bonus lot located behind the building backs up to a peaceful creek, offering potential for employee break areas or future development, subject to permitting. The property is situated directly off a high-traffic road, ensuring exceptional exposure and easy access.
Key Highlights
- High‑traffic location with excellent visibility.
- Large, paved parking lot.
- 3,078 sq ft building configured as two suites, offering flexibility for tenants or owner‑user.
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
$43,645
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
4.39%
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%
$872,900
$872.9K
Cap Rate 7%
$623,500
$623.5K
Cap Rate 9%
$484,944
$484.9K
Market Conditions
NOI Build-Up for 3,078 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
$84.6K $27.48/SF
− Vacancy
−$11.8K −$3.85/SF
EGI
$72.7K $23.63/SF
− OpEx
−$29.1K −$9.45/SF
NOI
$43.6K $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%
$872,900
Cap Rate 7%
$623,500
Cap Rate 9%
$484,944
Alternative Uses
Best Use
Healthcare Medical
$623.5K
$545.6K – $727.4K
NOI $43,645 @ 7.0% cap · market cap 4.39%
Second Best
Office B
$622.8K
$545.0K – $726.6K
NOI $43,597 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$831.3K
$727.4K – $969.9K
NOI $58,193 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 98332, WA
20,704
Population
7,897
Households
2.6
Avg Household Size
47
Median Age
52%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
1,000
Density / Sq Mi
$122,827
Median Household Income
$64,286
Median Earnings
$2,373
Median Rent
$686,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial property in Purdy with excellent visibility and ample parking.
Where is this office units located?
The property is located at 14619 Purdy Dr NW Gig Harbor, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility.; Large, paved parking lot.; 3,078 sq ft building configured as two suites, offering flexibility for tenants or owner‑user.
