VMFH Lynnwood Medical Center is a fully leased medical office asset located at 19116 33rd Ave W in Lynnwood, WA, positioned within one of the fastest growing suburban healthcare corridors in the Puget Sound.
Situated on a 1.52 AC parcel with two stories over a level of tuck-under parking, the property offers investors stable, in place income backed by an exceptional credit profile and strong underlying fundamentals in the Alderwood City Center submarket.
The building is fully occupied by Virginia Mason Medical Center, a premier Pacific Northwest healthcare provider and fully integrated member of CommonSpirit Health, one of the nation's largest and most diversified nonprofit health systems. As of March 2025, Virginia Mason became a member of CommonSpirit Health's Obligated Group under the system's Master Trust Indenture — reflecting deep financial and operational integration into one of the sector's leading nonprofit health systems and a tenant credit profile well beyond that of a typical independent hospital. The tenant has recently executed a renewal through September 2031, reinforcing the property's identity as a purpose-built medical destination and underscoring the Tenant’s long-term commitment to this facility. With 100% occupancy, a 6.40% cap rate on an asking price of $15,500,000, and tenant benefiting from the operational infrastructure and financial oversight of an investment-grade nonprofit health system, VMFH Lynnwood Medical Center presents a compelling acquisition opportunity for investors seeking durable NNN cash flow and low-risk medical office exposure in a proven South Snohomish County submarket with 3.2% MOB vacancy