Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10009 59th SW Ave Lakewood, WA 98499-2757

    • Office Properties & Spaces
    • 9,345 SF
    • 0.89 lot acres
    OFF-MARKET
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1257136
    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

    • LegalShield / Law Firm
    • Hope Human Services / Social Service Agency
    • John L. Messina / Law Firm
    • Smith Richard D / Law Firm
    • Lowenberg Lopez & Paluck / Law Firm

    Property Details for 10009 59th SW Ave

    Year built
    1989
    Construction
    WOOD FRAME
    Lot size
    0.89 lot acres
    Property size
    9,345 SF
    Zone code
    CBD
    Property type
    Office Properties & Spaces
    APN
    4002020060
    APU
    4002020060

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,850,000
      6.5%
      $1,710,000
      7%
      $1,585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,582,000
      Market price range: $594k - $2.02M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,940,000
      Current use
      MEDICAL BUILDING
      $2,565,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.515
    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
    $25,128
    $1,091,900
    $1,152,900
    $2,244,800
    -
    $1,091,900
    $1,152,900
    $2,244,800

    Comparable in this City

    • Value Estimation
      $655,000
      3,250 SF

      3620 100th SW St

      OFFICE (GENERAL) • 3,250 SF
      3620 100th SW St, Tacoma, WA 98499-4429
      View Details
    • Value Estimation
      $2,470,000
      14,949 SF

      3625 Perkins SW Ln

      OFFICE (GENERAL) • 14,949 SF
      3625 Perkins SW Ln, Tacoma, WA 98499-4784
      View Details
    • Value Estimation by Request
      1,132 SF

      10317 Bridgeport SW Way

      OFFICE (GENERAL) • 1,132 SF
      10317 Bridgeport SW Way, Lakewood, WA 98499-2300
      View Details
    • Value Estimation
      $1,090,000
      6,048 SF

      9881 Bridgeport SW Way

      OFFICE (GENERAL) • 6,048 SF
      9881 Bridgeport SW Way, Lakewood, WA 98499-2805
      View Details
    • Value Estimation
      $645,000
      3,500 SF

      10524 Bridgeport SW Way

      OFFICE (GENERAL) • 3,500 SF
      10524 Bridgeport SW Way, Lakewood, WA 98499-4806
      View Details
    • Value Estimation by Request
      2,900 SF

      9842 Gravelly Lk SW Dr

      OFFICE (GENERAL) • 2,900 SF
      9842 Gravelly Lk SW Dr, Lakewood, WA 98499-1704
      View Details

    Similar Nearby for Sale

    • $2,450,000
      6,284 SF

      South Tacoma Way Office Building

      Iconic bank building, high visibility, ample parking.
      8801 Tacoma Way, Tacoma, WA 98499
      View Details
    • $415,000
      1,125 SF

      Lakewood Office Condo - $415K

      Prime Lakewood office, 1,125 sq ft, 8.4% cap rate.
      5926 100Th St, Tacoma, WA 98499
      View Details
    • $1,200,000
      3,885 SF

      Lakewood Office Building For Sale

      Prime Lakewood office, 3,885 SF, 6.5% cap rate.
      9124 Gravelly Lake Dr, Lakewood, WA 98499
      View Details
    • $4,499,000
      14,504 SF

      Lakewood Medical Office Complex

      Multi-tenant medical office, great potential
      9101 Bridgeport Way, Tacoma, WA 98499
      View Details
    • $3,950,000
      14,400 SF

      Medical Campus with Development Potential

      Well-maintained medical campus in Lakewood with development opportunities.
      9101 Bridgeport Way SW, Lakewood, WA 98499
      View Details
    • $675,000
      3,607 SF

      Three-Story Office Condo For Sale

      Three-story office condo with two units, one leased.
      3815 100Th Street Ct SW Lakewood, Lakewood, WA 98499
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Office/Medical Space on Steilacoom Blvd

      Well-maintained office/medical space with excellent visibility and access.
      3615 Steilacoom Blvd SW, Lakewood, WA 98499
      View Details
    • $19 SF/Yr
      2,700 SF

      Office/Retail Building with Ample Parking

      Office/retail building with strong demographics and excellent traffic.
      8510-8534 S Tacoma Way, Lakewood, WA 98499
      View Details
    • 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
    • $26 SF/Yr
      7,910 SF

      Medical Office Building For Lease

      7,910 SF medical office building with ample parking.
      5919 100Th St SW, Lakewood, WA 98499
      View Details
    • $26 SF/Yr
      2,800 SF

      Gerling Professional Center: Tacoma Office Space

      2,800 SF Medical/Office Building, Tacoma, WA
      9101 Bridgeport Way, Tacoma, WA 98499
      View Details
    • $24 SF/Yr
      810 SF

      Lakewood Office Space For Rent

      Main floor office suite available October 1, 2025.
      10828 Gravelly Lake Dr SW, Lakewood, WA 98499
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10009 59th SW Ave
    Lakewood, WA 98499-2757
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.