Smokey Point Medical/Professional Office
16410 Smokey Point Blvd Arlington, WA 98223
16410 Smokey Point Blvd, Arlington, WA, 98223
$9,125,000
For Sale
$9,125,000
Prominent, well-maintained medical/professional office building with high occupancy and visibility.
Property Size25,065 SF
Price / SF$364.05
Days on Market544
Property Features for 16410 Smokey Point Blvd
General Information
- Standard status
- Active
- Size
- 25,065 SF
Building Details
- Year Built
- 1992
Listing agency
NAI PUGET SOUND PROPERTIES
(425) 652-1722
Listed by
BLAKE STEDMAN · License #WA2495
Source
Corcoran
Added: Jan 25, 2025 Updated: Mar 16 at 9:09AM Checked: Mar 16 at 9:09AM
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 prominent medical and professional office building features 95% occupancy. The property was renovated in 2017 and is well maintained by ownership. It offers high visibility on Smokey Point Blvd, which sees over 100,000 daily traffic counts, and provides easy access to I-5 and SR-531. On-site parking is generous, with 118 shared parking spaces available for patients and staff. The building is positioned in a growing community with a diverse and expanding population. Its location offers close proximity to retail centers, restaurants, and other essential services, adding convenience for tenants. The property size is 25,065 square feet.
Key Highlights
- High visibility location on Smokey Point Blvd with 100,000+ daily traffic counts and easy access to I‑5 and SR‑531.
- 95% occupancy rate indicating strong tenant demand.
- Generous on‑site parking with 118 shared spaces for patients and staff.
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 | $685.8k | $27.36 |
| − Vacancy | −$90.5k | −$3.61 |
| EGI | $595.3k | $23.75 |
| − OpEx | −$148.8k | −$5.94 |
| NOI | $446.4k | $17.81 |
25,065 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.38M
$5.58M – $7.44M
NOI $446,442 @ 7.0% cap · market cap 4.89%
Second Best
Healthcare Medical
$5.24M
$4.59M – $6.12M
NOI $366,985 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$6.99M
$6.12M – $8.16M
NOI $489,314 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Smokey Point Animal Hospital — 16720 Smokey Point Blvd, Arlington, WA 98223
- Advanced Care Animal Clinic — 16820 Smokey Point Blvd # 2, Arlington, WA 98223
- Care 4 Pets Animal Hospital-Noemie Haas DVM — 3323 169th Pl NE, Arlington, WA 98223
- Petco Vaccination Clinic — 16508 Twin Lakes Ave, Marysville, WA 98271
- Karee McBroom - Advanced Care Animal Clinic — 16820 Smokey Point Blvd # 2, Arlington, WA 98223
FAQs
What type of property is this?
Medical Office Space - Prominent, well-maintained medical/professional office building with high occupancy and visibility.
Where is this medical office space located?
The property is located at 16410 Smokey Point Blvd Arlington, WA.
What is the asking price?
The asking price for this property is $9,125,000.
What are key features of this property?
This property features: High visibility location on Smokey Point Blvd with 100,000+ daily traffic counts and easy access to I‑5 and SR‑531.; 95% occupancy rate indicating strong tenant demand.; Generous on‑site parking with 118 shared spaces for patients and staff.
