Turnkey Medical Office Salon
For Sale
Contact for pricing
1429 Bonneville Ave, Snohomish, WA 98290
Turnkey multi-floor office with private offices, kitchen, restrooms, storage, and 12 striped parking stalls.
Property Size2,368 SF
Lot Size0.70 Acres
Price / SF$548.99
Days on Market98
Property Features for 1429 Bonneville Ave
General Information
Standard status
Active
Size
2,368 SF
Total Parking Spaces
12
Lot size
0.70 Acres
Property subtype
OFFICE
Zoning
Midtown
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1996
Buildings
1
Stories
2
Listing Agency:
Colliers International WA, LLC
(425) 453-4545
Listed By:
Richie Sander
(425) 586-5609
Source:
Moodyscre
Added: Jun 2
Changed: Sep 6
Last Checked: Sep 7 at 5:10AM
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 Colliers International WA, LLC
Investment Insights
Based on property information with market context.
This property offers 2,368 SF total across two floors, with 2,000 SF on the first floor and 368 SF on the second floor. An additional 446 SF of storage space is also available and is not included in the total square footage. The space is currently built out for a turnkey salon, with utilities throughout and an existing interior layout that includes four private offices, a kitchen, storage rooms, restrooms, and an open work area.
The property includes 12 striped parking stalls, with additional street parking available. Built in 1996, it is located in the Midtown zoning area within the City of Snohomish jurisdiction. Existing business and personal property can be included with the sale upon inquiry with the listing brokers.
With its existing buildout and multi-use office configuration, the space is positioned for continuation of salon use or for medical or general office uses, subject to applicable approvals.
The property includes 12 striped parking stalls, with additional street parking available. Built in 1996, it is located in the Midtown zoning area within the City of Snohomish jurisdiction. Existing business and personal property can be included with the sale upon inquiry with the listing brokers.
With its existing buildout and multi-use office configuration, the space is positioned for continuation of salon use or for medical or general office uses, subject to applicable approvals.
Key Highlights
- 2,368 SF building with 2,000 SF 1st floor and 1,368 SF 2nd floor, plus 446 SF additional storage (not included in total SF).
- 0.70‑acre lot (30,492 SF) with 12 striped parking stalls and additional street parking available.
- Built in 1996 with turnkey salon/office utilities throughout.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,177
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$843,540
$843.5K
Cap Rate 7%
$602,529
$602.5K
Cap Rate 9%
$468,633
$468.6K
Market Conditions
NOI Build-Up for 2,368 SF
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.
Gross rent
$64.8K $27.36/SF
− Vacancy
−$8.6K −$3.61/SF
EGI
$56.2K $23.75/SF
− OpEx
−$14.1K −$5.94/SF
NOI
$42.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$843,540
Cap Rate 7%
$602,529
Cap Rate 9%
$468,633
Alternative Uses
Best Use
Office B
$602.5K
$527.2K – $703.0K
NOI $42,177 @ 7.0% cap · market cap 3.24%
Second Best
Healthcare Medical
$495.3K
$433.4K – $577.9K
NOI $34,671 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$660.4K
$577.9K – $770.5K
NOI $46,228 @ 7.0% cap · market cap 3.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 98290, WA
37,535
Population
15,348
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
95%
High-School Grad
117.5 sq mi
ZIP Area
319
Density / Sq Mi
$129,656
Median Household Income
$68,573
Median Earnings
$1,591
Median Rent
$717,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Turnkey multi-floor office with private offices, kitchen, restrooms, storage, and 12 striped parking stalls.
Where is this office units located?
The property is located at 1429 Bonneville Ave Snohomish, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2,368 SF building with 2,000 SF 1st floor and 1,368 SF 2nd floor, plus 446 SF additional storage (not included in total SF).; 0.70‑acre lot (30,492 SF) with 12 striped parking stalls and additional street parking available.; Built in 1996 with turnkey salon/office utilities throughout.
