502 54th E Ave, Fife, WA 98424-2724
This single-tenant medical office building in Fife, WA, offers 6,168 square feet on a 0.89-acre corner lot. Built in 1984 and renovated in 2011, the Class C building boasts a versatile layout ideal for various uses. Currently configured as a medical office, it features a reception area, multiple exam rooms, and an x-ray room, making it turnkey for a similar practice. However, its adaptable design also suits physical therapy, veterinary services, dentistry, a title company, financial services, daycare, or even industrial uses (given the adjacent undeveloped 31,600 square foot yard owned by the landlord). The property enjoys excellent visibility and high traffic counts due to its strategic location in a bustling business and industrial district near the Port of Tacoma, with easy access to SR 509, I-5, and SR 167. Ample parking is available, and the building offers both pole and large building signage opportunities. The property features a new roof and HVAC system. The zoning is Industrial. The APN is 0320011096. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a high-demand location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.