Medical Commercial Condominium
11415 Slater Ave NE Kirkland, WA 98033
11415 Slater Ave NE, Kirkland, WA, 98033
$2,100,000
For Sale
$2,100,000
Medical commercial condominium for sale, suitable for owner/user or investment.
Property Size3,700 SF
Price / SF$567.57
Days on Market151
Property Features for 11415 Slater Ave NE
General Information
- Standard status
- Active
- Size
- 3,700 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2009
Listing Agency
NAI PUGET SOUND PROPERTIES
(206) 390-0889
Listed by
RICK PAGE
Source
Corcoran
Added: Feb 18 Checked: Jul 19 at 4:16 am
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 NAI PUGET SOUND PROPERTIES
Investment Insights
Based on property information with market context.
This commercial condominium offers 3,700 rentable square feet, with a usable area of 3,300 square feet. The layout includes 5 exam rooms, 1 lab room, and 6 offices, with the potential to convert 4 of the offices into additional exam rooms. A large common area is available, complemented by additional bathrooms and a community room. The property features underground secured parking at a ratio of 4 spaces per 1,000 square feet. This property presents an opportunity for either an owner/user or an investor.
Key Highlights
- Medical commercial condominium: Ideal for owner/user or investment.
- 3,700 rentable SF (3,300 SF usable) provides ample space.
- Equipped with 5 exam rooms and 1 lab room.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.2k | $36.00 |
| − Vacancy | −$29.2k | −$7.88 |
| EGI | $104.0k | $28.12 |
| − OpEx | −$26.0k | −$7.03 |
| NOI | $78.0k | $21.09 |
3,700 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.11M
$975.3K – $1.30M
NOI $78,022 @ 7.0% cap · market cap 3.72%
Second Best
Healthcare Medical
$700.5K
$612.9K – $817.2K
NOI $49,033 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,736 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Michael Taggart
Alternative Medicine Practice
GenCap Construction Corp.
Construction Company
Insite Property Solutions
Property Management Company
Frank Marinkovich, MD
Physician
IVFusionMD - IV Vitamin ...
Spa & Massage Center
Similar For Sale Nearby
Similar Off Market Nearby
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- BluePearl Pet Hospital — 11814 115th Ave NE Bldg. J, Kirkland, WA 98034
- Holly Carter — 12930 NE 125th Way, Kirkland, WA 98034
- Aqua Tactics Fish Health — 12015 115th Ave NE, Kirkland, WA 98034
FAQs
What type of property is this?
Medical Office Space - Medical commercial condominium for sale, suitable for owner/user or investment.
Where is this medical office space located?
The property is located at 11415 Slater Ave NE Kirkland, WA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Medical commercial condominium: Ideal for owner/user or investment.; 3,700 rentable SF (3,300 SF usable) provides ample space.; Equipped with 5 exam rooms and 1 lab room.
