Smokey Point Medical/Professional Office
For Sale
$9,125,000
16410 Smokey Point Blvd, Arlington, WA 98223
Prominent, well-maintained medical/professional office building with high occupancy and visibility.
Property Size25,065 SF
Price / SF$364.05
Days on Market635
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
Listed By:
BLAKE STEDMAN · License #WA2495
(425) 652-1722
Source:
Corcoran
Added: Jan 25, 2025
Changed: Mar 16
Last 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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$446,442
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,928,840
$8.9M
Cap Rate 7%
$6,377,743
$6.4M
Cap Rate 9%
$4,960,467
$5.0M
Market Conditions
NOI Build-Up for 25,065 SF
Gross rent
$685.8K $27.36/SF
− Vacancy
−$90.5K −$3.61/SF
EGI
$595.3K $23.75/SF
− OpEx
−$148.8K −$5.94/SF
NOI
$446.4K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,928,840
Cap Rate 7%
$6,377,743
Cap Rate 9%
$4,960,467
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 authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98223, WA
45,139
Population
18,224
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
316.2 sq mi
ZIP Area
143
Density / Sq Mi
$96,478
Median Household Income
$52,487
Median Earnings
$1,780
Median Rent
$556,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Petco Vaccination Clinic — 16508 Twin Lakes Ave, Marysville, WA 98271
- 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
- Karee McBroom - Advanced Care Animal Clinic — 16820 Smokey Point Blvd # 2, Arlington, WA 98223
Frequently Asked Questions
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.
