23700 Edmonds Way Edmonds, WA 98026
- Medical offices
- 1,250 SF
- 0.25 lot acres
Current Use by Public Records
- Humoral medicine / Medical Center / Hospital
- Jill M. Patten, LMP / Massage Therapist
- Soiset Alsia / Massage Therapist
- Diane Kaplan, ARNP / Doctor
- Dr. Kevin Kuo / Practitioner Service Location / Alternative Medicine Practitioner
Property Details for 23700 Edmonds Way
- Year built
- 1954
- Construction
- WOOD
- Lot size
- 0.25 lot acres
- Property size
- 1,250 SF
- Zone code
- E1
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 463300300402
- APU
- 463300300402
Description
This exceptional 2,500 square foot medical office building presents a unique investment opportunity in the thriving city of Edmonds, Washington. Located on a highly visible 11,000 square foot lot at 23700 Edmonds Way, this property enjoys a prime position on a major commuter route leading to the Edmonds-Kingston Ferry. Currently zoned Edmonds-BN, the property offers significant flexibility for future development. The City of Edmonds has approved an up-zone to Edmonds RM-1.5, unlocking the potential to construct up to seven townhomes, capitalizing on the area's strong demand for residential housing. The existing building, featuring new flooring and ready for immediate occupancy, can be utilized as a medical office, leased for other commercial purposes, or even converted for single-family residential use. This versatility makes it an ideal asset for investors and developers seeking to leverage the area's growth trajectory. The high-traffic location ensures excellent visibility and accessibility, while the up-zoning provides significant upside potential. This is a rare opportunity to acquire a property with multiple development pathways in a desirable waterfront community. The property is priced at $1,450,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $930,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $715,000
- 6.5%
- $805,000
- 7%
- $740,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $700,000
- Geo Method
- $755,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $695,000
- Retail
- $655,000
- Mixed-Use
- $790,000
- Hospitality
- $695,000
- Educational
- $700,000
- Residential Income
- $800,000
- Energy
- $685,000
- Income-Based Land
- $815,000
- Food Service
- $670,000
Location Insight
- Map
- Local Demand
- City
- Edmonds
- County
- Snohomish
- State
- Washington
- Longitude
- -122.353
- Latitude
- 47.7843
- CBSA code
- 42660
- CBSA name
- SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
