16000 Mill Creek Blvd - Showroom FOR SALE


Mill Creek, WA 98012
$6,800,000 USD
425-281-5261
16000 Mill Creek Blvd, Mill Creek, WA for Sale
$6,800,000 USD
Showroom - FOR SALE
1/13
null | 5.54% Cap Rate

16000 Mill Creek Blvd
Mill Creek, WA 98012


HIGHLIGHTS

  • The asset is currently 88.12% leased, delivering stable returns with a Year 1 NOI of $376,565.52.
  • Located within the Urban Center/Town Center South subarea, the zoning permits up to 10 stories with no FAR or unit cap
  • Highly visible site near SR-527 with excellent access to I-5 and walking distance to Mill Creek Town Center.
  • Surrounded by a dense, high-income population with projected 2025 median household incomes exceeding $125,000 within a 5-mile radius.

OVERVIEW

Kidder Mathews is pleased to present the Edgewater Building, a 22,458 RSF flex property in Mill Creek with strong in-place income and long-term upside. Located just off SR-527 with proximity to I-5 and Mill Creek Town Center, the property offers exceptional access and visibility. Importantly, the property lies within a zoning corridor being evaluated for increased density and mixed-use development, creating a rare opportunity to unlock additional value through future entitlements or redevelopment.

FOR SALE DETAILS

PRICE

$6,800,000 USD

PRICE/SF

$303 USD /SF

CAP RATE

5.54%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edgewater Bldg

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Showroom

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

UTILITIES

Gas - Natural, Water - City, Sewer - City

CLEAR CEILING HT

20 Ft

DOCKS

-

DRIVE INS

5

PARKING SPACES

48

LAND DETAILS

LAND ACRES

1.24

LAND SF

54,014

ZONING

Town Center

APN/PARCEL ID

006891-000-009-00

ASK ABOUT THIS PROPERTY

Colton TeglovicKidder MathewsMore Info
425-281-5261

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Colton TeglovicKidder MathewsMore Info
425-281-5261

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