Medical Office Building For
For Sale
$489,630
Pending
14818 Pacific Ave S, Tacoma, WA 98444
Single-tenant medical office with four operatories and upgraded signage.
Property Size1,718 SF
Days on Market525
Property Features for 14818 Pacific Ave S
General Information
Standard status
Pending
Size
1,718 SF
Property subtype
Commercial
Building Details
Year Built
1987
Listing Agency:
TIMOTHY JOHNSON COMMERCIAL PROPERTIES, LLC
(253) 209-9999
Listed By:
TIMOTHY JOHNSON
Source:
Corcoran
Added: Mar 14, 2025
Changed: Jul 6
Last Checked: Jul 23 at 9:35AM
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 TIMOTHY JOHNSON COMMERCIAL PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This is a meticulously maintained 1,728 square foot single-tenant medical office building situated on a 0.139 acre lot. The property features four dental operatories that could alternatively be used as offices. It is tastefully landscaped and well-lighted. The generous parking lot is fenced and gated. An upgraded monument sign on 149th Street South provides professional business signage exposure. The property is zoned AC and identified by Tax ID 983000-0-124.
Key Highlights
- Single‑tenant medical office building.
- Four dental operatories ready for use (or offices).
- Generous, fenced and gated parking lot.
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
$27,832
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
5.68%
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%
$556,640
$556.6K
Cap Rate 7%
$397,600
$397.6K
Cap Rate 9%
$309,244
$309.2K
Market Conditions
NOI Build-Up for 1,718 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
$46.4K $27.00/SF
− Vacancy
−$9.3K −$5.40/SF
EGI
$37.1K $21.60/SF
− OpEx
−$9.3K −$5.40/SF
NOI
$27.8K $16.20/SF
Area
Tacoma, WA
Vacancy
20.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$556,640
Cap Rate 7%
$397,600
Cap Rate 9%
$309,244
Alternative Uses
Best Use
Office B
$397.6K
$347.9K – $463.9K
NOI $27,832 @ 7.0% cap · market cap 5.68%
Second Best
Healthcare Medical
$350.9K
$307.0K – $409.3K
NOI $24,560 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$528.1K
$462.1K – $616.1K
NOI $36,964 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Amy Jagger — 14107 Pacific Ave S SUITE A, Tacoma, WA 984444622
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant medical office with four operatories and upgraded signage.
Where is this medical office space located?
The property is located at 14818 Pacific Ave S Tacoma, WA.
What is the asking price?
The asking price for this property is $489,630.
What are key features of this property?
This property features: Single‑tenant medical office building.; Four dental operatories ready for use (or offices).; Generous, fenced and gated parking lot.
