875 Wesley StArlington, WA 98223

Property Details for 875 Wesley St

Year built

1991

Construction

WOOD

Lot size

1.67 AC

Property size (Sq ft)

17,382 SF

Zone code

14

Property type

Commercial real estate

APN

812700000100

APU

812700000100

Description

This exceptional 5,152 square foot medical office condo in Arlington, WA, presents a compelling investment or owner-occupancy opportunity. Strategically located adjacent to the Skagit Regional Health campus and Cascade Valley Hospital, the property benefits from its prime location within the Whitehorse Medical Center. Currently boasting 87% occupancy, the building offers a strong, stable cash flow with significant upside potential. The existing tenants include prominent medical groups such as Skagit Regional Health and Western Washington Medical Group, ensuring a high-quality tenant base. Occupied spaces command an average rental rate of $29.36 per square foot, triple net (NNN). This translates to a robust rental income stream, making it an attractive proposition for value-add investors seeking a stable, high-performing asset. The property's current occupancy rate, while strong, leaves room for future growth and increased profitability. Furthermore, the availability of 5,152 square feet currently leased on a long-term basis provides a unique opportunity for a medical group to acquire a high-quality building at a price significantly below replacement cost, allowing for owner-occupancy as existing leases expire. The building's location, tenant quality, and current financial performance combine to create a compelling investment opportunity with substantial long-term growth potential. The asking price is $6,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,313,670

  6.5%

  $4,904,920

  7%

  $4,554,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,283,660

  Geo Method

  $3,347,430

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,958,130

  Retail / Commercial

  $5,047,460

  Mixed-Use / Specialty

  $4,982,960

  Hospitality / Lodging

  $3,595,300

  Office

  $4,904,920

  Institutional / Educational

  $5,163,650

  Residential Income

  $6,041,480

  Multifamily

  $7,503,630

  Automotive / Energy

  $4,425,990

  Parking / Income-Based Land

  $1,573,300

  Restaurant / Food Service

  $2,492,430

  Healthcare / Senior Housing

  $5,157,630

Location Insight

City

Arlington

County

Snohomish

State

Washington

Latitude

48.1875

Longitude

-122.117

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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