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    1229 Madison St Seattle, WA 98104

    Sponsored
    For Sale
    $1,750,000

    Prime Seattle location, move-in ready.

    Property size:
    2,352 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,352 square foot medical office condominium, located at 1229 Madison St, Seattle, WA 98104, presents a unique investment opportunity. Situated in the heart of Seattle's medical district, this Class B property boasts a desirable location, offering convenient access to Swedish Hospital and nearby amenities. The space comprises two combined units (1440/1430), currently 98% occupied, and is available for sale at $1,750,000 ($744.05/sq ft). The property features a complete medical office build-out, ready for immediate occupancy. Recent upgrades include new flooring, paint, a reception desk, and cabinets. An on-site parking garage provides 430 covered stalls, along with free short-term parking options. Enjoy stunning downtown views from this well-maintained space. The net lease structure offers flexibility, with the possibility of leasing back a portion to the seller. This turnkey solution is perfect for owner-users seeking a high-quality, established medical practice location in a vibrant urban setting. The property's proximity to restaurants and cafes adds to its appeal. This is a rare opportunity to acquire a thriving medical office space in a highly sought-after Seattle location.

    Property Features for 1229 Madison St

    General Information

    Property type
    Medical offices
    Square Feet
    2,352 SF
    Class
    B

    HighLights

    • 2,352 SF medical office condo in Seattle's medical district.
    • Class B property at 1229 Madison St, Seattle, WA 98104, near Swedish Hospital.
    • $1,750,000 asking price ($744.05/SF); 98% occupied.
    • Complete medical build‑out, recently upgraded with new flooring, paint, reception area, and cabinets.
    • On‑site parking garage with 430 covered stalls and free short‑term parking; downtown views.
    • Net lease structure; potential for leaseback.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pilot Theodore F ... Endodontist Swedish First Hill Medical Center Seattle Radiologists Medical Clinic Hart Brian T ... Dentist Pacific Endodontics Endodontist

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3221135
    Latitude
    47.6100869

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    FAQs

    What type of property is this?
    Medical office - Prime Seattle location, move-in ready.
    Where is this medical office located?
    The property is located at 1229 Madison St Seattle, WA.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: 2,352 SF medical office condo in Seattle's medical district.; Class B property at 1229 Madison St, Seattle, WA 98104, near Swedish Hospital.; $1,750,000 asking price ($744.05/SF); 98% occupied.
    Request Owner's contact information
    1229 Madison St Seattle, WA 98104
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    Seattle, WA 98104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1229 Madison St Seattle, WA 98104
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