Turn-Key Healthcare Space For
For Sale
$899,000
Pending
10315 19th Ave SE, Everett, WA 98208
2,372 SF medical suite in prime Silver Lake location.
Property Size2,372 SF
Days on Market423
Property Features for 10315 19th Ave SE
General Information
Standard status
Pending
Size
2,372 SF
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
COLDWELL BANKER COMMERCIAL DANFORTH
(425) 478-7546
Listed By:
HEIDI IHDE · License #21025621
Source:
Corcoran
Added: Jun 12, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER COMMERCIAL DANFORTH
Investment Insights
Based on property information with market context.
This is a 2,372 square foot medical suite located in Silver Lake. The space is designed for healthcare professionals and was previously used for counseling services, a dental office, and sleep studies. The layout includes 6 exam rooms/offices with built-in sound attenuation, a large private physician/practitioner/director office, a large reception area with an integrated nurses station, and a dedicated server/computer area. There is ample storage throughout the suite. Patient-focused amenities include 3 restrooms, one of which is ADA-compliant, and abundant natural light enhanced by 2 skylights.
Key Highlights
- Turn‑key 2,372 sq ft medical suite ready for immediate occupancy.
- Prime Silver Lake location ideal for healthcare professionals.
- Six spacious exam rooms/offices with sound attenuation for patient privacy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,686
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$793,720
$793.7K
Cap Rate 7%
$566,943
$566.9K
Cap Rate 9%
$440,956
$441.0K
Market Conditions
NOI Build-Up for 2,372 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$62.6K $26.40/SF
− Vacancy
−$9.7K −$4.09/SF
EGI
$52.9K $22.31/SF
− OpEx
−$13.2K −$5.58/SF
NOI
$39.7K $16.73/SF
Area
Everett, WA
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$793,720
Cap Rate 7%
$566,943
Cap Rate 9%
$440,956
Alternative Uses
Best Use
Office B
$566.9K
$496.1K – $661.4K
NOI $39,686 @ 7.0% cap · market cap 4.41%
Second Best
Healthcare Medical
$513.4K
$449.3K – $599.0K
NOI $35,941 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$785.2K
$687.0K – $916.0K
NOI $54,961 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98208, WA
60,019
Population
22,534
Households
2.7
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
15.2 sq mi
ZIP Area
3,949
Density / Sq Mi
$102,546
Median Household Income
$53,626
Median Earnings
$1,859
Median Rent
$641,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,372 SF medical suite in prime Silver Lake location.
Where is this medical office space located?
The property is located at 10315 19th Ave SE Everett, WA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Turn‑key 2,372 sq ft medical suite ready for immediate occupancy.; Prime Silver Lake location ideal for healthcare professionals.; Six spacious exam rooms/offices with sound attenuation for patient privacy.
