Mountlake Terrace Fitness and
23607 54th Ave W Mountlake Terrace, WA 98043
For Sale
Contact for pricing
Fitness center with gym, weight room, offices, and classrooms.
Property Size16,124 SF
Lot Size2.21 Acres
Price / SF$303.89
Days on Market795
Property Features for 23607 54th Ave W
General Information
Standard status
Active
Size
16,124 SF
Lot size
2.21 Acres
Property subtype
SPECIALTY
Listing Agency:
Kidder Mathews
(425) 450-1180
Listed By:
Steve Pelluer · License #23225
(425) 450-1180
Source:
Moodyscre
Added: May 27, 2024
Changed: Jul 6
Last Checked: Jul 22 at 3:53AM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This 16,124 square foot property in Mountlake Terrace, WA, is equipped with a clubhouse, a full-size gym, a weight room, offices, and classrooms. Please note that a third party has the right of first refusal on this property.
Key Highlights
- Full Size Gym: Perfect for recreation and training.
- Weight Room: Fully equipped for strength and conditioning.
- Clubhouse: Ideal for gatherings and events.
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 | $441.2k | $27.36 |
| − Vacancy | −$58.2k | −$3.61 |
| EGI | $382.9k | $23.75 |
| − OpEx | −$95.7k | −$5.94 |
| NOI | $287.2k | $17.81 |
16,124 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.10M
$3.59M – $4.79M
NOI $287,190 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.93M – $5.25M
NOI $314,769 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Juicy Power Yoga — 6007 244th St SW STE B, Mountlake Terrace, WA 98043
- Pilates Northwest — 20030 Ballinger Way NE, Shoreline, WA 98155
- Forest Crest Tennis Club — 4901 238th St SW, Mountlake Terrace, WA 98043
- Sky Zone Trampoline Park — 24000 Van Ry Blvd, Mountlake Terrace, WA 98043
- Emerald City Athletics - Ballinger Village — 20202 Ballinger Way NE, Shoreline, WA 98155
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Fitness center with gym, weight room, offices, and classrooms.
Where is this fitness center & gym located?
The property is located at 23607 54th Ave W Mountlake Terrace, WA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Full Size Gym: Perfect for recreation and training.; Weight Room: Fully equipped for strength and conditioning.; Clubhouse: Ideal for gatherings and events.
