Lakewood Medical Office
For Sale
Contact for pricing
9101 Bridgeport Way SW, Tacoma, WA 98499
Well-maintained medical complex in a desirable location.
Property Size14,400 SF
Lot Size1.50 Acres
Price / SF$274.31
Days on Market855
Property Features for 9101 Bridgeport Way SW
General Information
Standard status
Active
Size
14,400 SF
Lot size
1.50 Acres
Property subtype
Office
Zoning
Central Business District (CBD)
Lease Type
Modified Gross
Building Details
Year Built
1972
Year Renovated
1990
Buildings
4
Units
6
Tenancy
Multi
Listing Agency:
Johnson Commercial - Lakewood
Listed By:
Margot Johnson · License #21028742
Source:
Crexi
Added: Jun 5, 2024
Changed: Oct 6
Last Checked: Oct 5 at 6:56PM
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 Johnson Commercial - Lakewood
Investment Insights
Based on property information with market context.
The Gerling Professional Center is a well-maintained complex primarily occupied by medical tenants. It is situated in a park-like setting at the corner of Bridgeport Way and Gerlings Drive in Lakewood, WA. The complex consists of four buildings on approximately 1.5 acres of land, totaling approximately 14,400 square feet. Building A is 2,800 square feet with an additional unfinished lower floor. Building B is 4,300 square feet. Building C is 2,200 square feet. Building D is 2,800 square feet with an unfinished lower floor of approximately 2,300 square feet. Three of the four buildings are fully tenanted. One space is currently for lease, and one building is currently available for occupancy. Ample, lighted parking lots are located at either end of the complex, with a walkway connecting them. The large lot offers development potential for an additional building at the back. The property is located within the Central Business District (CBD) zone, close to both the Lakewood Towne Center and Lakewood Colonial Center. Kiwanis Park is located next door. Interstate-5 and Hwy 512 are minutes away.
Key Highlights
- Stately, well‑maintained medical complex in a park‑like setting.
- Located in the desirable Central Business District (CBD) zone, close to Lakewood Towne Center and Lakewood Colonial Center.
- Four buildings totaling approximately 14,400sf with mixed occupancy (three fully tenanted, one space for lease, one building available).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$233,280
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,665,600
$4.7M
Cap Rate 7%
$3,332,571
$3.3M
Cap Rate 9%
$2,592,000
$2.6M
Market Conditions
NOI Build-Up for 14,400 SF
Gross rent
$388.8K $27.00/SF
− Vacancy
−$77.8K −$5.40/SF
EGI
$311.0K $21.60/SF
− OpEx
−$77.8K −$5.40/SF
NOI
$233.3K $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 Rate 5%
$4,665,600
Cap Rate 7%
$3,332,571
Cap Rate 9%
$2,592,000
Alternative Uses
Best Use
Office B
$3.33M
$2.92M – $3.89M
NOI $233,280 @ 7.0% cap · market cap 5.91%
Second Best
Healthcare Medical
$2.94M
$2.57M – $3.43M
NOI $205,862 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$4.43M
$3.87M – $5.16M
NOI $309,830 @ 7.0% cap · market cap 7.84%
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
616
Businesses Nearby
Under-served
Demand for This Use
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
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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?
Medical Office Space - Well-maintained medical complex in a desirable location.
Where is this medical office space located?
The property is located at 9101 Bridgeport Way SW Tacoma, WA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Stately, well‑maintained medical complex in a park‑like setting.; Located in the desirable Central Business District (CBD) zone, close to Lakewood Towne Center and Lakewood Colonial Center.; Four buildings totaling approximately 14,400sf with mixed occupancy (three fully tenanted, one space for lease, one building available).
