19116 33rd Ave W - Medical FOR SALE


Lynnwood, WA 98036- Outlying Lynnwood-Snohomish | 
$15,500,000 USD
253-948-7032
19116 33rd Ave W, Lynnwood, WA for Sale
$15,500,000 USD
Medical - FOR SALE
1/6
null | Request Cap Rate

19116 33rd Ave W
Lynnwood, WA 98036
Outlying Lynnwood-Snohomish


OVERVIEW

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

FOR SALE DETAILS

PRICE

$15,500,000 USD

PRICE/SF

$367 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Virginia Mason Medical Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

BTP, Lynnwood

APN/PARCEL ID

003726-002-005-03

ASK ABOUT THIS PROPERTY

Drew FrameKidder MathewsMore Info
253-948-7032

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Drew FrameKidder MathewsMore Info
253-948-7032

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