Office Building with Pylon
New
For Sale
Contact for pricing
7512 Bridgeport Way W, Lakewood, WA 98499
Office property with Lakewood NC2 zoning and shared parking.
Property Size2,134 SF
Lot Size0.22 Acres
Price / SF$278.82
Days on Market5
Property Features for 7512 Bridgeport Way W
General Information
Standard status
Active
Size
2,134 SF
Lot size
0.22 Acres
Property subtype
OFFICE
Zoning
Lakewood NC2
Additional Details
Road Access
Yes
Amenities
Pylon Signage
Building Details
Buildings
1
Building Size
2,134 SF
Listing Agency:
First Western Properties - Tacoma, Inc.
(253) 533-1386
Listed By:
Michael Olson
(253) 533-1386
Source:
Moodyscre
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 3:56AM
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 First Western Properties - Tacoma, Inc.
Investment Insights
Based on property information with market context.
The property is a 2,134-square-foot office building on a 9,583-square-foot parcel along Bridgeport Way W in Lakewood. The building includes 1,280 square feet available for owner-user occupancy, while 854 square feet is leased to an existing tenant through 2/29/2028.
Lakewood NC2 zoning, pylon signage, and shared parking are among the property’s established features. The address is 7512 Bridgeport Way W, Lakewood, WA 98499.
Lakewood NC2 zoning, pylon signage, and shared parking are among the property’s established features. The address is 7512 Bridgeport Way W, Lakewood, WA 98499.
Key Highlights
- 2,134 SF office building on a 9,583 SF parcel
- 1,280 SF available for owner‑user occupancy
- 854 SF leased to an existing tenant until 2/29/2028
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
$30,226
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
5.08%
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%
$604,520
$604.5K
Cap Rate 7%
$431,800
$431.8K
Cap Rate 9%
$335,844
$335.8K
Market Conditions
NOI Build-Up for 2,134 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
$46.9K $21.96/SF
− Vacancy
−$6.6K −$3.07/SF
EGI
$40.3K $18.89/SF
− OpEx
−$10.1K −$4.72/SF
NOI
$30.2K $14.16/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$21.96 /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%
$604,520
Cap Rate 7%
$431,800
Cap Rate 9%
$335,844
Alternative Uses
Best Use
Office B
$431.8K
$377.8K – $503.8K
NOI $30,226 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$576.4K
$504.3K – $672.4K
NOI $40,346 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
545
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with Lakewood NC2 zoning and shared parking.
Where is this office building located?
The property is located at 7512 Bridgeport Way W Lakewood, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,134 SF office building on a 9,583 SF parcel; 1,280 SF available for owner‑user occupancy; 854 SF leased to an existing tenant until 2/29/2028
