New Health Medical Center | 23700 Edmonds Way
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New Health Medical Center 23700 Edmonds Way
2,500 SF Office Building Edmonds, WA 98026 £1,159,014 (£464/SF) 6% Net Initial Yield
Investment Highlights
- Multi-tenant medical office is situated on a 11,000 SF lot
- EDMONDS-BN ZONING - property offers potential for redevelopment as retail or office space with residential units above
- Many options for this property, new floors and rent ready
- High-traffic commuter route
- Property benefits from the City-supported up-zone to Edmonds RM-1.5, allowing for the construction of up to 7 townhomes
Executive Summary
Prime property located on a high-traffic commuter route north toward the Edmonds-Kingston Ferry,. This 2,500 SF, multi-tenant medical office is situated on a 11,000 SF lot. Zoned Edmonds-BN, the property offers potential for redevelopment as retail or office space with residential units above.
Additionally, the property benefits from the City-supported up-zone to Edmonds RM-1.5, allowing for the construction of up to 7 townhomes to meet the growing demand for higher-density housing in the vibrant, waterfront city of Edmonds. An exceptional opportunity for investors and developers looking to capitalize on the area’s growth and potential!
Additionally, the property benefits from the City-supported up-zone to Edmonds RM-1.5, allowing for the construction of up to 7 townhomes to meet the growing demand for higher-density housing in the vibrant, waterfront city of Edmonds. An exceptional opportunity for investors and developers looking to capitalize on the area’s growth and potential!
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
2,500 SF
Building Class
B
Year Built/Renovated
1954/1962
Price
£1,159,014
Price Per SF
£464
Net Initial Yield
6%
NOI
£69,541
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
1,250 SF
Building FAR
0.23
Lot Size
0.25 AC
Zoning
BN - Edmonds-BN zoning allows redevelopment as retail or office with dwelling above. Enjoy City-supported up-zone to Edmonds RM-1.5
Parking
12 Spaces (4.8 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Wheelchair Accessible
PROPERTY TAXES
| Parcel Number | 004633-003-004-02 | Improvements Assessment | £350,416 |
| Land Assessment | £348,492 | Total Assessment | £698,908 |
PROPERTY TAXES
Parcel Number
004633-003-004-02
Land Assessment
£348,492
Improvements Assessment
£350,416
Total Assessment
£698,908
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New Health Medical Center | 23700 Edmonds Way
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