Professional Office Unit with Attic
For Sale
$485,000
33-5920 100th St Sw, Lakewood, WA 98499
Office suite configured for professional services with multiple offices, reception areas, restrooms, kitchen, storage, and dedicated parking.
Property Size1,792 SF
Price / SF$270.65
Days on Market651
Property Features for 33-5920 100th St Sw
General Information
Standard status
Active
Size
1,792 SF
Total Parking Spaces
6
Taxes and HOA fees
Annual Taxes
$3,146
Listing Agency:
Providencia
(425) 998-9887
Listed By:
Charles Holmes · License #20363DB
(425) 998-9887
Source:
Exprealty
Added: Oct 31, 2024
Changed: Aug 10
Last Checked: Aug 12 at 11:38AM
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 Providencia
Investment Insights
Based on property information with market context.
Suite 33 at Lakewood Professional Village provides 1,392 square feet of professional office space with an additional 400 square feet of attic storage. The existing layout includes a reception area, waiting room, five offices, a kitchen, a 1/2 bath, and a 3/4 bath. A heat pump supports both heating and cooling throughout the year.
The property is located at 33-5920 100th St SW in Lakewood, Washington, across from the Lakewood Towne Center. Six dedicated parking spaces are included for staff, patients, or clients. The configuration is suited to medical, dental, and other professional services.
The property is located at 33-5920 100th St SW in Lakewood, Washington, across from the Lakewood Towne Center. Six dedicated parking spaces are included for staff, patients, or clients. The configuration is suited to medical, dental, and other professional services.
Key Highlights
- 1,392 SF professional office suite with an additional 400 SF of attic storage
- Existing layout includes five offices, reception, waiting room, kitchen, and two bathrooms
- Six dedicated parking spaces included
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
$25,410
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
5.24%
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%
$508,200
$508.2K
Cap Rate 7%
$363,000
$363.0K
Cap Rate 9%
$282,333
$282.3K
Market Conditions
NOI Build-Up for 1,792 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
$49.2K $27.48/SF
− Vacancy
−$6.9K −$3.85/SF
EGI
$42.3K $23.63/SF
− OpEx
−$16.9K −$9.45/SF
NOI
$25.4K $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%
$508,200
Cap Rate 7%
$363,000
Cap Rate 9%
$282,333
Alternative Uses
Best Use
Healthcare Medical
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 5.24%
Second Best
Office B
$362.6K
$317.3K – $423.0K
NOI $25,382 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$484.0K
$423.5K – $564.7K
NOI $33,880 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 98499, WA
33,188
Population
14,683
Households
2.3
Avg Household Size
35
Median Age
19%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
3,771
Density / Sq Mi
$65,000
Median Household Income
$41,345
Median Earnings
$1,445
Median Rent
$370,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite configured for professional services with multiple offices, reception areas, restrooms, kitchen, storage, and dedicated parking.
Where is this office units located?
The property is located at 33-5920 100th St Sw Lakewood, WA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,392 SF professional office suite with an additional 400 SF of attic storage; Existing layout includes five offices, reception, waiting room, kitchen, and two bathrooms; Six dedicated parking spaces included
