Highway 410 Office/Medical
For Sale
Contact for pricing
8412 Myers Rd E, Bonney Lake, WA 98391
Office/medical suites on 2.13 acres in growing community.
Property Size16,104 SF
Lot Size2.13 Acres
Price / SF$217.34
Days on Market1289
Property Features for 8412 Myers Rd E
General Information
Standard status
Active
Size
16,104 SF
Class
C
Total Parking Spaces
48
Lot size
2.13 Acres
Property subtype
Office
Zoning
CG
Lease Type
NNN
Building Details
Year Built
2001
Year Renovated
2007
Buildings
1
Stories
3
Units
9
Tenancy
Multi
Listing Agency:
Pacific Commercial Brokers
(253) 988-0080
Listed By:
Tom O'Brien · License #WA
Source:
Crexi
Added: Feb 21, 2023
Changed: Aug 14
Last Checked: Aug 29 at 3:12AM
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 Pacific Commercial Brokers
Investment Insights
Based on property information with market context.
Lake Place Professional Plaza is located along Highway 410. The property includes 9 office/medical suites totaling 14,627 rentable square feet, situated on a 2.13-acre lot. This property is centrally located in the growing communities of Bonney Lake, Sumner, Puyallup, Lake Tapps, and Auburn. The building offers owner/user opportunity with future growth potential or as an investment property. It is a value-add property with rental income upside.
Key Highlights
- High‑traffic location on Highway 410.
- Owner/user opportunity with future growth potential.
- Value‑add property with rental income upside.
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
$228,350
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
6.52%
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%
$4,567,000
$4.6M
Cap Rate 7%
$3,262,143
$3.3M
Cap Rate 9%
$2,537,222
$2.5M
Market Conditions
NOI Build-Up for 16,104 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
$442.5K $27.48/SF
− Vacancy
−$62.0K −$3.85/SF
EGI
$380.6K $23.63/SF
− OpEx
−$152.2K −$9.45/SF
NOI
$228.3K $14.18/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$27.48 /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%
$4,567,000
Cap Rate 7%
$3,262,143
Cap Rate 9%
$2,537,222
Alternative Uses
Best Use
Healthcare Medical
$3.26M
$2.85M – $3.81M
NOI $228,350 @ 7.0% cap · market cap 6.52%
Second Best
Office B
$3.26M
$2.85M – $3.80M
NOI $228,100 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$4.35M
$3.81M – $5.07M
NOI $304,466 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98391, WA
56,427
Population
20,573
Households
2.7
Avg Household Size
38
Median Age
32%
College-Educated
95%
High-School Grad
38.4 sq mi
ZIP Area
1,469
Density / Sq Mi
$129,233
Median Household Income
$66,861
Median Earnings
$2,178
Median Rent
$578,300
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
- Lake Tapps Veterinary Hospital — 18522 Veterans Memorial Dr E Suite A, Bonney Lake, WA 98391
- Davison Susan J DVM — 18522 Sumner-Buckley Hwy E, Bonney Lake, WA 98391
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office/medical suites on 2.13 acres in growing community.
Where is this medical office space located?
The property is located at 8412 Myers Rd E Bonney Lake, WA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑traffic location on Highway 410.; Owner/user opportunity with future growth potential.; Value‑add property with rental income upside.
