Parkland WA Medical
For Sale
$3,832,240
Pending
14012 Pacific Ave S, Tacoma, WA 98444
Multi-tenant medical center in Parkland, WA with value-add opportunity.
Property Size11,808 SF
Days on Market265
Property Features for 14012 Pacific Ave S
General Information
Standard status
Pending
Size
11,808 SF
Property subtype
Commercial
Building Details
Year Built
2010
Listing Agency:
KIDDER MATHEWS
Listed By:
MIKE NEWTON · License #39238
(425) 829-0615
Source:
Corcoran
Added: Dec 17, 2025
Changed: Aug 8
Last Checked: Jul 23 at 7:33AM
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 KIDDER MATHEWS
Investment Insights
Based on property information with market context.
This multi-tenant medical center is located in Parkland, WA. Constructed in 2011, the property features long-term, stable medical service tenants operating on NNN leases. The property has one vacant space, presenting a value-add or owner-user opportunity. Rental rates are within market for Class A medical space in the Tacoma area. The property size is 11808 square feet.
Key Highlights
- Stable, long‑term medical tenants on NNN leases provide consistent income.
- Value‑add opportunity with one vacant space for increased revenue or owner‑user potential.
- High‑quality, relatively new construction (built in 2010/2011).
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
$168,807
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
4.40%
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%
$3,376,140
$3.4M
Cap Rate 7%
$2,411,529
$2.4M
Cap Rate 9%
$1,875,633
$1.9M
Market Conditions
NOI Build-Up for 11,808 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
$307.5K $26.04/SF
− Vacancy
−$26.1K −$2.21/SF
EGI
$281.3K $23.83/SF
− OpEx
−$112.5K −$9.53/SF
NOI
$168.8K $14.30/SF
Area
Tacoma, WA
Vacancy
8.50%
Lease Rate
$26.04 /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%
$3,376,140
Cap Rate 7%
$2,411,529
Cap Rate 9%
$1,875,633
Alternative Uses
Best Use
Healthcare Medical
$2.41M
$2.11M – $2.81M
NOI $168,807 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.23M
NOI $254,061 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
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 - Multi-tenant medical center in Parkland, WA with value-add opportunity.
Where is this medical center located?
The property is located at 14012 Pacific Ave S Tacoma, WA.
What is the asking price?
The asking price for this property is $3,832,240.
What are key features of this property?
This property features: Stable, long‑term medical tenants on NNN leases provide consistent income.; Value‑add opportunity with one vacant space for increased revenue or owner‑user potential.; High‑quality, relatively new construction (built in 2010/2011).
