Turnkey Medical Office
For Sale
Contact for pricing
303 West 1st Street, Aberdeen, WA 98520
Professionally designed, ADA-compliant medical office with treatment rooms, offices, and on-site parking in a turnkey layout.
Property Size1,920 SF
Price / SF$203.07
Days on Market54
Property Features for 303 West 1st Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Retail, Office, Mixed Use
Zoning
Commercial
Occupancy
100%
Lease Type
Modified
Investment Type
Owner/User
Net Operating Income
$26,870
Building Details
Year Built
2004
Year Renovated
2014
Buildings
1
Units
8
Tenancy
Single
Listing Agency:
Windermere Real Estate/Aberdeen
Listed By:
David Dagnen · License #WA B50838
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 6 at 1:29PM
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 Windermere Real Estate/Aberdeen
Investment Insights
Based on property information with market context.
This turnkey medical office building was constructed in 2004 and renovated in 2014, offering a functional, professionally designed healthcare layout. Interior features include a welcoming waiting area, reception area, multiple treatment rooms, private offices, and a break room/storage area. The property is ADA compliant and includes heat pump HVAC, security monitoring, and quality interior finishes throughout.
Located in downtown Aberdeen, the building provides ample on-site parking and visibility with signage exposure. The current configuration supports a range of healthcare and professional uses consistent with the existing layout.
The property may be well suited for healthcare operators and related professional users seeking an operational-ready space with treatment and office components already in place. It is currently leased through 02/18/2028, and any offers will be subject to the existing lease and the tenant’s rights under that agreement.
Located in downtown Aberdeen, the building provides ample on-site parking and visibility with signage exposure. The current configuration supports a range of healthcare and professional uses consistent with the existing layout.
The property may be well suited for healthcare operators and related professional users seeking an operational-ready space with treatment and office components already in place. It is currently leased through 02/18/2028, and any offers will be subject to the existing lease and the tenant’s rights under that agreement.
Key Highlights
- ±1,920 SF medical office building in downtown Aberdeen with treatment rooms, private offices, and break room/storage
- ADA‑compliant facility with welcoming waiting and reception areas
- Built in 2004 and renovated in 2014; heat pump HVAC plus security monitoring
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
$26,957
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
6.91%
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%
$539,140
$539.1K
Cap Rate 7%
$385,100
$385.1K
Cap Rate 9%
$299,522
$299.5K
Market Conditions
NOI Build-Up for 1,920 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
$46.1K $24.00/SF
− Vacancy
−$10.1K −$5.28/SF
EGI
$35.9K $18.72/SF
− OpEx
−$9.0K −$4.68/SF
NOI
$27.0K $14.04/SF
Area
Grays Harbor County, WA
Vacancy
22.00%
Lease Rate
$24.00 /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%
$539,140
Cap Rate 7%
$385,100
Cap Rate 9%
$299,522
Alternative Uses
Best Use
Office B
$385.1K
$337.0K – $449.3K
NOI $26,957 @ 7.0% cap · market cap 6.91%
Second Best
Healthcare Medical
$371.2K
$324.8K – $433.0K
NOI $25,982 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$529.3K
$463.1K – $617.5K
NOI $37,048 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 98520, WA
24,086
Population
9,333
Households
2.6
Avg Household Size
41
Median Age
14%
College-Educated
89%
High-School Grad
217.5 sq mi
ZIP Area
111
Density / Sq Mi
$59,744
Median Household Income
$34,591
Median Earnings
$1,034
Median Rent
$237,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Professionally designed, ADA-compliant medical office with treatment rooms, offices, and on-site parking in a turnkey layout.
Where is this medical center located?
The property is located at 303 West 1st Street Aberdeen, WA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: ±1,920 SF medical office building in downtown Aberdeen with treatment rooms, private offices, and break room/storage; ADA‑compliant facility with welcoming waiting and reception areas; Built in 2004 and renovated in 2014; heat pump HVAC plus security monitoring
