10828 Gravelly Lake DrLakewood, WA 98499

Property Details for 10828 Gravelly Lake Dr

Year built

1972

Construction

WOOD FRAME

Lot size

1.37 AC

Property size (Sq ft)

26,400 SF

Zone code

NC1

Property type

Office properties

APN

3105000081

APU

3105000081

Description

Clover Park Professional Square offers exceptional office space in the heart of Lakewood, Washington. This two-story, 26,400 square foot building, constructed in 1972, provides a convenient location with easy access to Interstate 5 and the Lakewood Towne Centre. The property features ample parking in a well-lit lot, enhancing convenience for tenants and their clients. The building is ADA accessible, thanks to a service lift. Currently, two suites are available for lease: a 900 square foot suite on the ground floor and a 1,040 square foot suite on the upper floor. Additional space may be available upon request. The maximum contiguous space available is 2,000 square feet. The building is zoned NC1. Exterior signage opportunities are available, including a landscaped courtyard directory and overhead walkway signage. Lease rates are competitive, with a modified gross lease of $20 per square foot per year for the main floor and $18 per square foot per year for the upper floor. Tenants are responsible for paying their electricity directly to the utility company. The property's APN is 3105000081 and is located near School St. This prime location and attractive amenities make Clover Park Professional Square an ideal choice for businesses seeking a thriving and accessible office environment.

• CAP approach

  CAP return

  Valuation

  6%

  $7,143,905

  6.5%

  $6,594,374

  7%

  $6,123,347

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,079,528

  Geo Method

  $5,084,112

• Alternative Use

  Use

  Valuation

  Residential

  $8,177,024

  Hospitality

  $7,490,110

  Educational

  $6,231,683

  Medical

  $6,446,000

  Retail

  $9,693,729

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.1585

Longitude

-122.521

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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