Professional Office Building For
9124 Gravelly Lake Dr SW, Tacoma, WA 98499
3,885 SF professional office building with high visibility.
Type:Office
Property size:
3,885 SFPrice / SF:
$231/SF- Added:
- Apr 10, 2024
- Days on Market:
- 779
- Last Refresh:
- May 13 at 8:24 pm
Property Features for 9124 Gravelly Lake Dr SW
General Information
- Standard status
- Active
- Size
- 3,885 SF
- Property subtype
- Office
Building Details
- Year Built
- 1986
Listing agent Brent Tornquist License #WA 20433
Listing office Windermere Professional Partners- Narrows
Listing date Apr 10, 2024
Source Crexi
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 Windermere Professional Partners- Narrows
HighLights
- High‑visibility location at Bridgeport Way and Gravelly Lake Dr with over 20,000 daily traffic count.
- 100% vacant, move‑in‑ready 3,885± SF professional office building.
- Four versatile office suites suitable for single or multi‑tenant use.
- Dual access from both major roadways and monument signage.
- Ample parking with cross‑parking easement.
- Recently upgraded HVAC and tasteful finishes.
Overview
This 3,885 square foot professional office building is available for purchase. The property is 100% vacant and features upgraded HVAC and tasteful finishes. It includes four office suites suitable for single or multi-tenant use. The building benefits from monument signage and dual access on two major roadways. Located at the intersection of Bridgeport Way and Gravelly Lake Drive, the property offers high visibility with over 20,000 vehicles passing daily. Ample parking is secured via a cross-parking easement.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$699.3K
NOI $62,937 @ 9.00% cap · cautious / downside scenario
Moderate
$899.1K
NOI $62,937 @ 7.00% cap · market / base-case scenario
Aggressive
$1.26M
NOI $62,937 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.9k | $27.00 |
| − Vacancy | −$21.0k | −$5.40 |
| EGI | $83.9k | $21.60 |
| − OpEx | −$21.0k | −$5.40 |
| NOI | $62.9k | $16.20 |
3,885 SF · lease $27.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$899.1K
$786.7K – $1.05M
NOI $62,937 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,590 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.512
- Latitude
- 47.1619
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 3,885 SF professional office building with high visibility.
Where is this office building located?
The property is located at 9124 Gravelly Lake Dr SW Tacoma, WA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: High‑visibility location at Bridgeport Way and Gravelly Lake Dr with over 20,000 daily traffic count.; 100% vacant, move‑in‑ready **3,885± SF professional office building.**; Four versatile office suites suitable for single or multi‑tenant use.
