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Office Medical

Hall Creek Professional Building

7125 224th St SW, Edmonds, WA 98026

Listing Price: $2,198,000

Cap Rate
1.75%
Gross SF
7,358
Rentable SF
7,358
Price/Gross SF
$298.72
Occupancy
68.0%
Year Built
1983
Lot Size
0.87 acres

Investment Overview

The Stren Lea Group at Marcus & Millichap has been retained to exclusively market for sale the Hall Creek Professional Building, a 7,358 square foot professional office property located in Mountlake Terrace, Washington. Originally built in 1983, the building was completely renovated in 2000 and has been occupied by Seabrook Dental Laboratory, an independent manufacturer of dental prosthetic and therapeutic devices. The subject property has a mostly open floor plan with a large lab space, open work areas, as well as five private offices, lunch room and conference room. This floorplan can be easily reconfigured to suit a variety of future uses. Ample parking (5.5 spaces per thousand) is provided via the asphalt parking lot on the Western side of the property, adjacent to the Interurban Trail. The building is wood-framed construction with a durable metal and torch-down roof and clad in metal siding. A footbridge and exterior deck were completely rebuilt with pressure-treated lumber in the first half of 2022. The interior is finished with drywall and wood trim, while flooring is carpet and vinyl. The forced-air HVAC system is climate controlled via roof-mounted, gas-fed heat pumps. Located between Highway 99 (Pacific Highway) and Interstate 5, the property has easy access to commuter routes used to travel to Downtown Seattle, Everett and surrounding cities. The property will benefit from the upcoming Link Light Rail Extension Plan as it is near both the Mountlake Terrace Station and the Lynnwood City Center Station that are set to be completed in 2024. Nearby transit centers located at each future station will enhance mobility and economic growth throughout the area.

Investment Highlights

  • 7,358 SF Life Sciences / Medical Office In Tranquil Creekside Setting
  • Brand New Footbridge and Deck
  • Prime Location For A Medical Or Professional User
  • Current Tenant on Short-Term Lease at Below-Market Rents
  • Mostly Open Floor Plan Allows A Wide Range Of Potential Uses
  • Ample Parking With Convenient Access To Highway 99 & I-5
  • Just Steps Away From Shopping, Restaurants & Swedish-Edmonds Campus

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Office Medical

Hall Creek Professional Building

Listing Price: $2,198,000

Cap Rate
1.75%
Gross SF
7,358
Rentable SF
7,358
Price/Gross SF
$298.72
Occupancy
68.0%
Year Built
1983
Lot Size
0.87 acres

Investment Highlights

  • 7,358 SF Life Sciences / Medical Office In Tranquil Creekside Setting
  • Brand New Footbridge and Deck
  • Prime Location For A Medical Or Professional User
  • Current Tenant on Short-Term Lease at Below-Market Rents
  • Mostly Open Floor Plan Allows A Wide Range Of Potential Uses
  • Ample Parking With Convenient Access To Highway 99 & I-5
  • Just Steps Away From Shopping, Restaurants & Swedish-Edmonds Campus

Investment Overview

The Stren Lea Group at Marcus & Millichap has been retained to exclusively market for sale the Hall Creek Professional Building, a 7,358 square foot professional office property located in Mountlake Terrace, Washington. Originally built in 1983, the building was completely renovated in 2000 and has been occupied by Seabrook Dental Laboratory, an independent manufacturer of dental prosthetic and therapeutic devices. The subject property has a mostly open floor plan with a large lab space, open work areas, as well as five private offices, lunch room and conference room. This floorplan can be easily reconfigured to suit a variety of future uses. Ample parking (5.5 spaces per thousand) is provided via the asphalt parking lot on the Western side of the property, adjacent to the Interurban Trail. The building is wood-framed construction with a durable metal and torch-down roof and clad in metal siding. A footbridge and exterior deck were completely rebuilt with pressure-treated lumber in the first half of 2022. The interior is finished with drywall and wood trim, while flooring is carpet and vinyl. The forced-air HVAC system is climate controlled via roof-mounted, gas-fed heat pumps. Located between Highway 99 (Pacific Highway) and Interstate 5, the property has easy access to commuter routes used to travel to Downtown Seattle, Everett and surrounding cities. The property will benefit from the upcoming Link Light Rail Extension Plan as it is near both the Mountlake Terrace Station and the Lynnwood City Center Station that are set to be completed in 2024. Nearby transit centers located at each future station will enhance mobility and economic growth throughout the area.

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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