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    11318 Bridgeport Way SW Lakewood, WA 98499
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    Property profile & analytics

    11318 Bridgeport Way SW Lakewood, WA 98499

    View on Map
    • Office Spaces
    • 17,046 SF
    • 2.42 lot acres
    For Lease
    $2,955,000
    View Listing →
    Lakewood Office Space For Lease For Lease
    $2,955,000
    900 SF

    Lakewood Office Space For Lease

    Office space available for lease in Lakewood, Washington.

    11318 Bridgeport Way SW, Lakewood, WA
    View Listing
    Property ID
    US90-1472183
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Holistic Healing Passion / Physician / Alternative Medicine Practice
    • Khalighi Mehrdad MD / Physician
    • City Sleep Lab / Physician
    • Karmel Medical Clinic / Medical Clinic
    • SE JUN JI, DC / Alternative Medicine Practice

    Property Details for 11318 Bridgeport Way SW

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.42 lot acres
    Property size
    17,046 SF
    Zone code
    C1
    Property type
    Office Spaces
    APN
    219111082
    APU
    219111082

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,375,000
      6.5%
      $3,115,000
      7%
      $2,895,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,446,000
      Market price range: $1.08M - $3.68M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,680,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.505
    Latitude
    47.1547
    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
    $39,134
    $2,169,000
    $1,300,400
    $3,469,400
    -
    $2,169,000
    $1,300,400
    $3,469,400

    Comparable in this City

    • Value Estimation by Request
      30,000 SF

      8815 Tacoma Way

      Office Spaces • 30,000 SF
      8815 Tacoma Way, Lakewood, WA 98499
      View Details
    • Value Estimation by Request
      10,660 SF

      8801 Tacoma Way

      Office Spaces • 10,660 SF
      8801 Tacoma Way, Tacoma, WA 98499
      View Details
    • Value Estimation
      $1,485,000
      8,258 SF

      9500 Frnt S St

      OFFICE (GENERAL) • 8,258 SF
      9500 Frnt S St, Lakewood, WA 98499-9415
      View Details
    • Value Estimation
      $5,200,000
      27,541 SF

      9615 Gravelly Lk SW Dr

      OFFICE (GENERAL) • 27,541 SF
      9615 Gravelly Lk SW Dr, Tacoma, WA 98499
      View Details
    • Value Estimation
      $865,000
      5,516 SF

      12930 Pacific SW Hwy

      OFFICE (GENERAL) • 5,516 SF
      12930 Pacific SW Hwy, Lakewood, WA 98499-1000
      View Details
    • Value Estimation by Request
      1,200 SF

      5118 Seattle SW Ave

      OFFICE (GENERAL) • 1,200 SF
      5118 Seattle SW Ave, Lakewood, WA 98499-3363
      View Details

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      Commercial Lot Near Sound Transit

      Commercial lot suitable for retail or multifamily development.
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      Lakewood Center Plaza Professional Building

      Three-story office building in Lakewood's business district.
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      Paved, Fenced Lakewood Industrial Property

      Versatile industrial property with live/work potential in Lakewood, Washington.
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    • $675,000
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      Three-Story Office Condo For Sale

      Three-story office condo with two units, one leased.
      3815 100Th St SW, Lakewood, WA 98499
      View Details
    • $4,100,000
      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

      Lakewood Retail/Office Space Available

      Retail or office space on Bridgeport Way near Wal-Mart.
      7521 Bridgeport Way W, Lakewood, WA 98499
      View Details

    Similar Nearby for Lease

    • $2,238 /Mo
      1,946 SF

      Lakewood Flex Space Available Now

      Flex space with office, GL door, available for rent.
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      View Details
    • $17 SF/Yr

      Former Bank Building with Mezzanine

      Former bank building featuring high ceilings and drive-through lanes.
      8801 South Tacoma Way, Tacoma, 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
    • $1,896 /Mo
      1,896 SF

      Lakewood Office Space Available

      Office space available for lease in Lakewood, Washington.
      9810 40Th Ave SW, Lakewood, WA 98499
      View Details
    • $22 SF/Yr
      1,300 SF

      Professional Office Space Available

      Second-floor office space with natural light and flexible layout.
      5202 100Th St SW, Lakewood, WA 98499
      View Details
    • $2,356 /Mo
      1,300 SF

      Lakewood Office Suite for Rent

      Office suite with open workspace, private office, and break area.
      5202 100Th St SW, Lakewood, WA 98499
      View Details
    View Listing
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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.

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    11318 Bridgeport Way SW, Lakewood, WA, 98499
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