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1229 Madison St Seattle, WA 98104

OFF-MARKET Office Spaces Google Maps
2,352 SF
Estimated value
No estimation on file for this property yet.
Property ID

Property summary

AI-generated overview

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 profile

Verified
Property type Office Spaces
Total area 2,352 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Medical Clinic
  • Medical Clinic
  • Dental Office
  • Dental Office

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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