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Property profile & analytics
OFF-MARKET
Medical Office Space
10904 Gravelly Lk SW Dr Lakewood, WA 98499-1330
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1011016
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1945
Construction
WOOD FRAME
Total area
1,184 SF
Lot
0.34 ac (15,000 SF)
Zoning code
NC1
APN
3105000211
UPID
US90-1011016
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Sean Wittmer Dental Office
-
Lakewood Endodontics Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Wittmer Real Estate Holdings LLC · 11 yrs held
Wittmer Real Estate Holdings LLC
since 2014
4 recorded transactions
Zoning & alternative use
NC1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Commercial 1 zoning district is intended to foster a sense of neighborhood identity and provide limited services within a neighborhood The district provides for a small scale mix of activities, including residential, retail, office, and local services, which serve the surrounding neighborhood
Zone name
Neighborhood Commercial 1
General category
COMMERCIAL
Zone area
19.41 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,990
Tax year 2024
Assessed value
$454,300
Assessed 2024
Previous assessed
$454,300
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$435,200
Assessed improvement
$19,100
Land market value
$435,200
Improvement market value
$19,100
Total market value
$454,300
Applied tax rate
760.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1945
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
1,184 SF
Lot
0.34 ac (15,000 SF)
Zoning code
NC1
APN
3105000211
UPID
US90-1011016
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC1 · Lakewood, WAZoning NC1 · permitted uses
NC1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Commercial 1 zoning district is intended to foster a sense of neighborhood identity and provide limited services within a neighborhood The district provides for a small scale mix of activities, including residential, retail, office, and local services, which serve the surrounding neighborhood
Zone name
Neighborhood Commercial 1
General category
COMMERCIAL
Zone area
19.41 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1945
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Wittmer Real Estate Holdings LLC
Entity
Mailing address
10904 GRAVELLY LK DR SW, LAKEWOOD, WA 98499-1330
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2025
—
Wittmer Real Estate Holdings LLC
—
Deed
related
$227,000 · Washington Trust Bank
Dec 31, 2014
$409,719
Wittmer Real Estate Holdings LLC
Komet Ventures LLC
Warranty Deed
$307,500 · Columbia State Bank
Sep 15, 2010
—
Komet Ventures LLC
Dunley,timothy J
Quit Claim Deed
related
—
Apr 9, 2010
—
Timothy J Dunley
Dunley Robert D Trust
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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