Second-Floor Office
For Sale
Contact for pricing
325 E George Hopper Rd, Burlington, WA 98233
Four professionally finished second-floor office suites are located in a modern office building with a bright lobby and ample parking.
Property Size4,757 SF
Price / SF$315.32
Days on Market254
Property Features for 325 E George Hopper Rd
General Information
Standard status
Active
Size
4,757 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
bright welcoming lobby
common restrooms
ample parking
Listing Agency:
NextHome Preview Properties
(360) 848-8900
Listed By:
Melissa Pilcher · License #NWM141213
(360) 661-7260
Source:
Moodyscre
Added: Jan 2
Changed: Aug 14
Last Checked: Sep 13 at 9:41AM
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 NextHome Preview Properties
Investment Insights
Based on property information with market context.
This offering includes four professionally finished office suites on the second floor within a modern office building. The property features a bright, welcoming lobby, common restrooms, and ample parking to support client and staff needs.
The suites are positioned in Burlington’s Advantage Business Park, with quick access to I-5 via exit 229 and visibility for day-to-day business traffic.
Each suite is delivered as an office space designed for professional service, medical, or administrative uses, with a clean, accessible layout intended for clients and staff.
The suites are positioned in Burlington’s Advantage Business Park, with quick access to I-5 via exit 229 and visibility for day-to-day business traffic.
Each suite is delivered as an office space designed for professional service, medical, or administrative uses, with a clean, accessible layout intended for clients and staff.
Key Highlights
- Four professionally finished second‑floor office suites in a modern office building
- Bright, welcoming lobby plus common restrooms
- Ample on‑site parking
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
$101,641
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
6.78%
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%
$2,032,820
$2.0M
Cap Rate 7%
$1,452,014
$1.5M
Cap Rate 9%
$1,129,344
$1.1M
Market Conditions
NOI Build-Up for 4,757 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
$170.7K $35.88/SF
− Vacancy
−$35.2K −$7.39/SF
EGI
$135.5K $28.49/SF
− OpEx
−$33.9K −$7.12/SF
NOI
$101.6K $21.37/SF
Area
Skagit County, WA
Vacancy
20.60%
Lease Rate
$35.88 /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%
$2,032,820
Cap Rate 7%
$1,452,014
Cap Rate 9%
$1,129,344
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,641 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,430 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 98233, WA
16,034
Population
7,295
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
90%
High-School Grad
33.2 sq mi
ZIP Area
483
Density / Sq Mi
$83,560
Median Household Income
$43,697
Median Earnings
$1,567
Median Rent
$466,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Four professionally finished second-floor office suites are located in a modern office building with a bright lobby and ample parking.
Where is this office units located?
The property is located at 325 E George Hopper Rd Burlington, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four professionally finished second‑floor office suites in a modern office building; Bright, welcoming lobby plus common restrooms; Ample on‑site parking
