Single-Story Medical Office
355 Richmond Beach Rd Shoreline, WA 98177
355 Richmond Beach Rd, Shoreline, WA, 98177
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For Sale
Contact for pricing
Single-story medical office with basement, featuring 2023-built space and extensively renovated areas on 1.26 acres.
Property Size26,277 SF
Lot Size1.26 Acres
Price / SF$437.65
Days on Market79
Property Features for 355 Richmond Beach Rd
General Information
- Standard status
- Active
- Size
- 26,277 SF
- Lot size
- 1.26 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1963
Listing agency
Kidder Mathews Bellevue
Listed by
Charles Caplice · License #23017647
Source
Crexi
Added: May 4 Updated: Jul 21 at 4:36AM Checked: Jul 21 at 4:36AM
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 Bellevue
Investment Insights
Based on property information with market context.
355 Richmond Beach Rd presents an owner-user and investment opportunity in Shoreline, Washington, with a single-story building plus basement totaling 26,277 square feet. The property includes 15,730 RSF of newly constructed space delivered in 2023, alongside extensively renovated existing space, creating a modern, move-in ready facility intended to require no additional capital investment to occupy.
Located on 1.26 acres along NW Richmond Beach Road, the building offers strong frontage and visibility. The site is within Neighborhood Business (NB) zoning, described as one of the most flexible commercial designations in the city’s municipal code. Permitted uses listed in the remarks include medical office, outpatient clinics, professional office, retail, personal services, restaurants, veterinary, daycare, and nursing facilities, providing flexibility for a new owner to configure the space without rezoning.
With access to major arterials including Aurora Avenue and Interstate 5 within minutes, the property is positioned for convenience across the broader north Seattle and Eastside markets.
Located on 1.26 acres along NW Richmond Beach Road, the building offers strong frontage and visibility. The site is within Neighborhood Business (NB) zoning, described as one of the most flexible commercial designations in the city’s municipal code. Permitted uses listed in the remarks include medical office, outpatient clinics, professional office, retail, personal services, restaurants, veterinary, daycare, and nursing facilities, providing flexibility for a new owner to configure the space without rezoning.
With access to major arterials including Aurora Avenue and Interstate 5 within minutes, the property is positioned for convenience across the broader north Seattle and Eastside markets.
Key Highlights
- 26,277 SF property in a single‑story building with basement, with 15,730 RSF newly constructed in 2023
- Extensively renovated existing space designed to be move‑in ready for immediate occupancy
- 1.26 acres along NW Richmond Beach Road with strong frontage and visibility
Local 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 | $946.0k | $36.00 |
| − Vacancy | −$207.2k | −$7.88 |
| EGI | $738.8k | $28.12 |
| − OpEx | −$184.7k | −$7.03 |
| NOI | $554.1k | $21.09 |
26,277 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.92M
$6.93M – $9.24M
NOI $554,103 @ 7.0% cap · market cap 4.82%
Second Best
Healthcare Medical
$4.97M
$4.35M – $5.80M
NOI $348,229 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$10.52M
$9.21M – $12.28M
NOI $736,723 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Single-story medical office with basement, featuring 2023-built space and extensively renovated areas on 1.26 acres.
Where is this medical office space located?
The property is located at 355 Richmond Beach Rd Shoreline, WA.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 26,277 SF property in a single‑story building with basement, with 15,730 RSF newly constructed in 2023; Extensively renovated existing space designed to be move‑in ready for immediate occupancy; 1.26 acres along NW Richmond Beach Road with strong frontage and visibility
