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    Property profile & analytics

    5920 100Th St Lakewood, WA 98499

    • Medical offices
    • 2,460 SF
    • 0.18 lot acres
    For Sale
    View listing
    $485,000
    Last Sale
    Jan 26, 2022
    $689,999
    Value Estimations
    Cap Rate Potential
    4.8%
    Medical offices
    Location Intelligence
    Property ID
    US90-1467826
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. James Wilson / Pediatrician / Physician
    • Energy Massage / Alternative Medicine Practice / Spa & Massage Center
    • Eye Physicians of Lakewood / Physician
    • David Colbeth, REALTOR - Life Point Team at RE/MAX Sound Properties / Real Estate Agency
    • RE/MAX Sound Properties / Real Estate Agency

    Property Details for 5920 100Th St

    Year built
    1968
    Construction
    WOOD FRAME
    Lot size
    0.18 lot acres
    Property size
    2,460 SF
    Zone code
    CBD
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    5135000042
    APU
    5135000042

    Description

    This exceptional office property, located at 5920 100th St SW in Lakewood, WA 98499, presents a unique opportunity to lease a full building totaling 13,706 square feet. Currently, all 13,706 square feet are vacant and available for lease. The property, classified as Class B, boasts a prime location within the Lakewood CBD, zoned accordingly. Originally constructed in 1964, the building underwent a significant renovation in 2017, encompassing roof replacement, HVAC system upgrades, interior finish enhancements, and bathroom renovations. The flexible layout allows for various suite sizes, ranging from a minimum of 446 square feet to a maximum contiguous space of 7,428 square feet. The property consists of six individual suites, offering versatility for businesses of different sizes. The property's location within Lakewood offers a blend of existing retail and office tenants, creating a vibrant and established business environment. The Pierce County Assessor's Parcel Numbers (APN) are 5135000030 and 5135000011. This is an ideal opportunity for a business seeking a fully renovated, flexible office space in a thriving Lakewood location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $720,000
      ML approach
      $690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $580,000
      6.5%
      $535,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $712,000
      Market price range: $426k - $972k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $675,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,050,000
      Change: +55% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $910,000
      Change: +34% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $775,000
      Change: +15% Conversion: Easy
      RETAIL STORES
      $615,000
      Change: -9% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.517
    Latitude
    47.1663
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,459
    $216,600
    $359,000
    $575,600
    -
    $216,600
    $359,000
    $575,600

    Comparable in this City

    • Value Estimation
      $2,780,000
      13,686 SF

      8511 Tacoma Way

      MEDICAL BUILDING • 13,686 SF
      8511 Tacoma Way, Lakewood, WA 98499-6521
      View Details
    • Value Estimation
      $1,370,000
      6,130 SF

      9618 Belmont SW Dr

      MEDICAL BUILDING • 6,130 SF
      9618 Belmont SW Dr, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      954 SF

      5920 100th St Sw Ste, Unit 11

      MEDICAL BUILDING • 954 SF
      5920 100th St Sw Ste, Lakewood, WA 98499-2751
      View Details
    • Value Estimation by Request
      0.22 Acres

      5920 100th SW St

      MEDICAL BUILDING • 0.22 Acres
      5920 100th SW St, Lakewood, WA 98499-2751
      View Details
    • Value Estimation
      $6,785,000
      29,967 SF

      7308 Bridgeport W Way

      MEDICAL BUILDING • 29,967 SF
      7308 Bridgeport W Way, Tacoma, WA 98499-8000
      View Details
    • Value Estimation
      $7,360,000
      42,752 SF

      11311 Bridgeport SW Way

      MEDICAL BUILDING • 42,752 SF
      11311 Bridgeport SW Way, Tacoma, WA 98499-3071
      View Details

    Similar Nearby for Sale

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    • $675,000
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    Similar Nearby for Lease

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      Medical Office Building For Lease

      7,910 SF medical office building with ample parking.
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    • Contact for pricing
      10,000 SF

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      Retail, Medical, Professional Suites

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    • $19 SF/Yr
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    • Contact for pricing
      900 SF

      Lakewood Office Space For Lease

      Office space available for lease in Lakewood, Washington.
      11318 Bridgeport Way SW, Lakewood, WA 98499
      View Details
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    Lakewood, WA 98499
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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