Professional Medical Office
9633 Levin Rd NW Silverdale, WA 98383
For Sale
Contact for pricing
NNN professional and medical center anchored by Microsoft, with additional space leased to medical, dental, and financial services.
Property Size22,567 SF
Price / SF$261.22
Days on Market68
Property Features for 9633 Levin Rd NW
General Information
Standard status
Active
Size
22,567 SF
Property subtype
OFFICE
Listing Agency:
Marcus & Millichap, Inc.
(206) 826-5787
Listed By:
Clayton Brown · License #WA:123258,ID:SP56979
Source:
Moodyscre
Added: May 23
Changed: Jul 28
Last Checked: Jul 29 at 2:25PM
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 Marcus & Millichap, Inc.
Investment Insights
Based on property information with market context.
Creekside Professional Center is a NNN professional and medical office property anchored by Microsoft, which occupies approximately 22% of the GLA and has maintained tenancy for 9+ years. The remaining 78% of the space is leased to medical, dental, and financial services tenants.
The property has been well maintained and has recently received upgrades including the parking lot, HVAC, heat pumps, and sprinklers. Creekside is located within the Silverdale retail trade area and is 0.8 miles from St. Michael Medical Center.
All nine tenants operate on NNN leases with minimal landlord responsibilities, and the tenant mix is described in the offering as necessity-based uses. The Silverdale office and healthcare submarket is cited with a 3.1% vacancy rate and 3.8% year-over-year rent growth, with virtually no new supply delivered or under construction.
The property has been well maintained and has recently received upgrades including the parking lot, HVAC, heat pumps, and sprinklers. Creekside is located within the Silverdale retail trade area and is 0.8 miles from St. Michael Medical Center.
All nine tenants operate on NNN leases with minimal landlord responsibilities, and the tenant mix is described in the offering as necessity-based uses. The Silverdale office and healthcare submarket is cited with a 3.1% vacancy rate and 3.8% year-over-year rent growth, with virtually no new supply delivered or under construction.
Key Highlights
- NNN professional and medical center in Silverdale, WA anchored by Microsoft (~22% of GLA).
- Microsoft tenancy has been in place for 9+ years, adding stability to the rent roll.
- Remaining ~78% of GLA is leased to medical, dental, and financial services tenants under NNN leases.
Financial Insights For Healthcare Medical
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 | $739.3k | $32.76 |
| − Vacancy | −$69.5k | −$3.08 |
| EGI | $669.8k | $29.68 |
| − OpEx | −$267.9k | −$11.87 |
| NOI | $401.9k | $17.81 |
22,567 SF · lease $32.76/SF/yr · vacancy 9.40% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$5.74M
$5.02M – $6.70M
NOI $401,881 @ 7.0% cap · market cap 6.82%
Second Best
Office B
$4.60M
$4.02M – $5.36M
NOI $321,715 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$7.52M
$6.58M – $8.78M
NOI $526,748 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - NNN professional and medical center anchored by Microsoft, with additional space leased to medical, dental, and financial services.
Where is this office building located?
The property is located at 9633 Levin Rd NW Silverdale, WA.
What is the asking price?
The asking price for this property is $5,895,000.
What are key features of this property?
This property features: NNN professional and medical center in Silverdale, WA anchored by Microsoft (~22% of GLA).; Microsoft tenancy has been in place for 9+ years, adding stability to the rent roll.; Remaining ~78% of GLA is leased to medical, dental, and financial services tenants under NNN leases.
