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Property profile & analytics
FOR LEASE
Office Spaces

2748 Milton Way Milton, WA 98354

30,894 SF 1.6 ac lot Built 1991
Entity Owned 19-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US90-0316197
Property summary
AI-generated overview

This exceptional two-story, 30,894 square foot office building, situated on a sprawling 69,735-acre lot at 2748 Milton Way, Milton, WA 98354, presents a unique investment opportunity. Built in 1991 and extensively renovated in 2018, the property boasts a prime location, offering excellent visibility with approximately 24,000 cars passing daily. The building features a single elevator, ample parking, and a convenient drive-up patient entrance, making it ideal for various office uses, including medical, creative, and traditional office spaces. Currently, there are several spaces available, ranging from 1,707 to 2,732 square feet, with a maximum contiguous space of 6,912 square feet. The building's attractive features include a bright entryway with floor-to-ceiling windows, ensuring natural light and a welcoming atmosphere. Its ADA accessibility further enhances its appeal. The property is zoned B and conveniently located near shopping, services, and major transportation arteries, including I-5, Hwy 18, and Hwy 167. The building's location, just one block west of Meridian on Milton Way, ensures high traffic counts and excellent exposure. With 6,609 square feet currently vacant, this presents a compelling opportunity for businesses seeking high-quality office space in a desirable location. The property's parcel number is 042004-1-042.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1991
Construction STEEL FRAME
Total area 30,894 SF
Lot 1.6 ac (69,740 SF)
Zoning code B
APN 420041042
UPID US90-0316197
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Surprise Lake Professional Medical Center Medical Clinic
  • Hopkins & Associates Dental Office
  • Franciscan Medical Clinic - Milton Medical Clinic
  • Chenoa A. Torklep, LMP Physician
  • Estrelino D Velasco Jr., MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$5.65M
Comparable Approach Comparable
$7.46M
Blend (final) Blend
$5.53M
Owner & transaction history
Surprise Lake Prof Ctr LLC · 19 yrs held
Surprise Lake Prof Ctr LLC
since 2007
7 recorded transactions
2007
Price N/A
1994
$1.1M
1990
$385,000
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
B · Milton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Business districts are intended to provide goods and services in support of the citys residential population. Due to the relative scarcity of appropriate areas for business development

Zone name Business District
General category COMMERCIAL
Zone area 197.30 ac
Source Realmo
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