9805 Gravelly Lake DrLakewood, WA 98499

Property Details for 9805 Gravelly Lake Dr

Year built

1960

Construction

WOOD FRAME

Lot size

0.52 AC

Property size (Sq ft)

3,815 SF

Zone code

CBD

Property type

Office properties

Property subtype

Other office properties

APN

219022049

APU

219022049

Description

This exceptional redevelopment opportunity encompasses a four-parcel, 1.24-acre corner lot situated at 9805 Gravelly Lake Dr SW, Lakewood, WA 98499. The property boasts a total of 54,014 square feet and comprises three buildings currently configured as an auto shop, warehouse, and office building. The asking price is $1,950,000, translating to $36.10 per square foot. This prime location offers excellent street frontage on the corner of Lake Grove and Gravelly Lake Drive, providing exceptional visibility and accessibility. The property's CBD zoning in Pierce County allows for a wide range of uses, including retail, commercial, and multifamily development, making it an ideal canvas for a diverse array of projects. Its proximity to local transit and employment centers further enhances its appeal and potential for significant return on investment. This unique offering presents a rare chance to capitalize on Lakewood's thriving marketplace and burgeoning growth. The latitude and longitude coordinates are 47.16843854, -122.52039451 respectively.

• CAP approach

  CAP return

  Valuation

  6%

  $1,032,348

  6.5%

  $952,937

  7%

  $884,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,023,046

  Geo Method

  $734,693

• Alternative Use

  Use

  Valuation

  Residential

  $1,181,642

  Hospitality

  $1,082,378

  Educational

  $900,525

  Medical

  $931,496

  Retail

  $1,400,817

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.1681

Longitude

-122.52

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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