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Office

Shoreline Park

19940 Ballinger Way NE, Shoreline, WA 98155

Listing Price: $4,250,000

Cap Rate
5.28%
Gross SF
13,503
Rentable SF
13,503
Price/Gross SF
$314.74
Lot Size
1.22 acres
Year Built
1968

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in Shoreline Park (the Property) located on Ballinger Way in Shoreline, WA. Consisting of three multi-tenant office buildings totaling 13,503 square feet, the Property is currently home to a variety of professional tenants benefiting from excellent street-facing visibility and the vibrant and growing Ballinger Village / Mountlake Terrance
Station community. The Property is just moments from Interstate-5 and is walkable to the Mountlake Terrace express bus and (2024) light rail station.

The Property contains two parcels totaling 1.22 acres (53,020 SF) zoned for Community Business (CB), and is well-positioned for future redevelopment. An investor will have the opportunity to benefit from existing leases through expiration and position the property for reconstruction alongside the Link Light Rail Expansion timeline. A sample massing study is included showing the capability of a six-story,
155-unit mixed-use structure over the current footprint.

The city of Shoreline is a highly sought-after destination for investors, businesses, and residents, and is poised for various local developments that will contribute to the growth and revitalization of the area. Future residents will be within walking distance of the nearby Ballinger Village shopping center, various dining and recreation options, and will have easy access to existing and planned public transit options.

Investment Highlights

  • COVERED LAND PLAY
  • EXCELLENT LOCAL AMENITIES
  • WALKING DISTANCE TO NEW LIGHT RAIL
  • SHORT-TERM LEASES
  • HIGH TRAFFIC VISIBILITY
  • FREEWAY AND PUBLIC TRANSIT ACCESS

Exclusively Listed By

Listing Price: $4,250,000

Cap Rate
5.28%
Gross SF
13,503
Rentable SF
13,503
Price/Gross SF
$314.74
Lot Size
1.22 acres
Year Built
1968

Investment Highlights

  • COVERED LAND PLAY
  • EXCELLENT LOCAL AMENITIES
  • WALKING DISTANCE TO NEW LIGHT RAIL
  • SHORT-TERM LEASES
  • HIGH TRAFFIC VISIBILITY
  • FREEWAY AND PUBLIC TRANSIT ACCESS

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in Shoreline Park (the Property) located on Ballinger Way in Shoreline, WA. Consisting of three multi-tenant office buildings totaling 13,503 square feet, the Property is currently home to a variety of professional tenants benefiting from excellent street-facing visibility and the vibrant and growing Ballinger Village / Mountlake Terrance
Station community. The Property is just moments from Interstate-5 and is walkable to the Mountlake Terrace express bus and (2024) light rail station.

The Property contains two parcels totaling 1.22 acres (53,020 SF) zoned for Community Business (CB), and is well-positioned for future redevelopment. An investor will have the opportunity to benefit from existing leases through expiration and position the property for reconstruction alongside the Link Light Rail Expansion timeline. A sample massing study is included showing the capability of a six-story,
155-unit mixed-use structure over the current footprint.

The city of Shoreline is a highly sought-after destination for investors, businesses, and residents, and is poised for various local developments that will contribute to the growth and revitalization of the area. Future residents will be within walking distance of the nearby Ballinger Village shopping center, various dining and recreation options, and will have easy access to existing and planned public transit options.

Exclusively Listed By

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