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Lakewood Medical/Dental 9101 Bridgeport Way SW 14,400 SF 81% Leased Office Building Lakewood, WA 98499 $3,950,000 ($274.31/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Frontage on Bridgeport Way
- Potential to build a 5th building, condominiumize, etc.
- Park-like setting
EXECUTIVE SUMMARY
Gerling Professional Center is an impressive and well-maintained medical campus located at the corner of Bridgeport Way and Gerlings Drive in Lakewood, WA. It is comprised of four office buildings set within a picturesque, park-like environment on approximately 1.5 acres of land. The four buildings total 14,400 square feet, with Building A offering 2,800 square feet, Building B 4,300 square feet, Building C 2,200 square feet, and Building D 5,100 square feet (including a lower level). Three of the buildings are fully tenanted, with one currently available for lease. Ample lighted parking lots are conveniently located at both ends of the property, with a well-maintained walkway running through the grounds.
This property offers exciting development potential, with ample space for an additional building at the rear of the lot. Zoned within the desirable Central Business District (CBD), the complex is ideally located near the Lakewood Towne Centre, Lakewood Colonial Center, and adjacent to Kiwanis Park. With easy access to Interstate-5 and Highway 512, the Gerling Professional Center is positioned in a prime location for businesses seeking both accessibility and a serene setting.
This property offers exciting development potential, with ample space for an additional building at the rear of the lot. Zoned within the desirable Central Business District (CBD), the complex is ideally located near the Lakewood Towne Centre, Lakewood Colonial Center, and adjacent to Kiwanis Park. With easy access to Interstate-5 and Highway 512, the Gerling Professional Center is positioned in a prime location for businesses seeking both accessibility and a serene setting.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Medical
Building Size
14,400 SF
Building Class
B
Year Built
1962
Price
$3,950,000
Price Per SF
$274.31
Cap Rate
6%
NOI
$237,000
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
14,400 SF
Building FAR
0.24
Lot Size
1.40 AC
Zoning
CBD - Central Business District
Parking
18 Spaces (1.25 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Signage
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 688000-0042 | Improvements Assessment | $414,300 |
| Land Assessment | $1,861,100 | Total Assessment | $2,275,400 |
PROPERTY TAXES
Parcel Number
688000-0042
Land Assessment
$1,861,100
Improvements Assessment
$414,300
Total Assessment
$2,275,400
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Lakewood Medical/Dental | 9101 Bridgeport Way SW
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