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    23700 Edmonds Way Edmonds, WA 98026

    Sponsored
    For Sale
    $1,450,000

    High-traffic location, redevelopment potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 2,500 square foot medical office building presents a unique investment opportunity in the thriving city of Edmonds, Washington. Located on a highly visible 11,000 square foot lot at 23700 Edmonds Way, this property enjoys a prime position on a major commuter route leading to the Edmonds-Kingston Ferry. Currently zoned Edmonds-BN, the property offers significant flexibility for future development. The City of Edmonds has approved an up-zone to Edmonds RM-1.5, unlocking the potential to construct up to seven townhomes, capitalizing on the area's strong demand for residential housing. The existing building, featuring new flooring and ready for immediate occupancy, can be utilized as a medical office, leased for other commercial purposes, or even converted for single-family residential use. This versatility makes it an ideal asset for investors and developers seeking to leverage the area's growth trajectory. The high-traffic location ensures excellent visibility and accessibility, while the up-zoning provides significant upside potential. This is a rare opportunity to acquire a property with multiple development pathways in a desirable waterfront community. The property is priced at $1,450,000.

    Property Features for 23700 Edmonds Way

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1954
    Property Profile Location Intelligence

    Current Use by Public Records

    Humoral medicine Medical Center Jill M. Patten, ... Massage Therapist Soiset Alsia Massage Therapist Diane Kaplan, ARNP Doctor Dr. Kevin Kuo Alternative Medicine Practitioner

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.3535
    Latitude
    47.78427

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    FAQs

    What type of property is this?
    Commercial real estate - High-traffic location, redevelopment potential.
    Where is this commercial real estate located?
    The property is located at 23700 Edmonds Way Edmonds, WA.
    What is the asking price?
    The asking price for this property is $1,450,000.
    (425) 712-8949
    Request Owner's contact information
    23700 Edmonds Way Edmonds, WA 98026
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23700 Edmonds Way Edmonds, WA 98026
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