13410 Highway 99 - Medical FOR SALE


Everett, WA 98204- Paine Field-Lake Stickney
$2,490,000 USD
206-584-6195
13410 Highway 99, Everett, WA for Sale
$2,490,000 USD
Medical - FOR SALE
1/3
null | 7.53% Cap Rate

13410 Highway 99
Everett, WA 98204
Paine Field-Lake Stickney


HIGHLIGHTS

  • PASSIVE NNN INVESTMENT
  • EMBEDDED RENTAL UPSIDE
  • FULL OCCUPANCY ACROSS SEVEN TENANTS
  • RECENT CAPITAL IMPROVEMENTS
  • HIGH BARRIER TO ENTRY
  • HIGHWAY ACCESS & VISIBILITY

OVERVIEW

Northmarq is pleased to present the Lake Hill Medical Dental Center, a value-add investment opportunity in one of Everett's high-barrier-to-entry submarkets.? The offering is 100% occupied, boasting durable NNN income across a diversified roster of seven medical, dental, and professional tenants.? The 11,712 SF building recently benefited from ±$194K capital improvements including a new roof, HVAC, and structural upgrades, reducing near-term capex exposure for a buyer.? In-place rents average $17.27/SF against a submarket average of $24.00/SF, representing significant embedded rent upside.? With several leases rolling in the near term, ownership is well positioned to capture meaningful rental increases as tenants renew to market rates.? All seven leases are structured on a NNN basis, insulating ownership from operating expense growth.? Positioned with immediate access to Highway 99 and SR 525, the property offers strong visibility and convenience for tenants and their patients.? No competing office product has been delivered or is under construction in the submarket over the past 10 years, underscoring the site's high barrier to entry.?

FOR SALE DETAILS

PRICE

$2,490,000 USD

PRICE/SF

$224 USD /SF

CAP RATE

7.53%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Hill Medical Dental Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

Mixed Use Corridor (MUC)

APN/PARCEL ID

003733-008-003-00

ASK ABOUT THIS PROPERTY

RJ VaraNorthmarqMore Info
206-584-6195

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RJ VaraNorthmarqMore Info
206-584-6195

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.