16504 9th Ave SE - Telecom Hotel/Data Hosting FOR SALE


Mill Creek, WA 98012
$7,390,000 USD
206-584-6195
16504 9th Ave SE, Mill Creek, WA for Sale
$7,390,000 USD
Telecom Hotel/Data Hosting - FOR SALE
1/8
null | 6.5% Cap Rate

16504 9th Ave SE
Mill Creek, WA 98012


HIGHLIGHTS

  • Turnkey Asset with Low Maintenance
  • 100% Occupied with Long-Term Stability
  • Passive NNN Investment
  • High-Demand Submarket with Tight Vacancy
  • Ample Parking
  • Excellent Demographics

OVERVIEW

Northmarq is pleased to present the Creekside Professional Building, a turnkey, low-risk investment in one of Snohomish County's most desirable submarkets. The offering is 100% occupied, boasting durable income and NNN leases requiring minimal management responsibility. The 19,070 SF building was constructed in 2001 and is home to five tenants offering a mix of medical and professional services to the surrounding community. Positioned between I-5 and Bothell-Everett Highway, the property offers excellent connectivity and convenient access for more than 365,000 residents within a five-mile radius. Creekside features 80 dedicated parking stalls, enhancing tenant functionality while generating additional income for ownership. All five leases are structured on a NNN basis with annual rent escalations, delivering a strong hedge against inflation with minimal expense exposure. As of the offering date, the property features a weighted average lease term of 5.11 years, with 80% of tenants holding extension options.

FOR SALE DETAILS

PRICE

$7,390,000 USD

PRICE/SF

$381 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creekside Professional Bldg

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Telecom Hotel/Data Hosting

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

2.27 AC

LAND SF

98,881 SF

ZONING

Community Business (CB)

APN/PARCEL ID

005096-001-002-02,005096-001-002-04,005096-001-003-05

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.