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Plaza 173 3402 173rd Pl NE 9,662 SF 81% Leased Office Building Arlington, WA 98223 $1,950,000 ($201.82/SF) 5.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Stable Tenant Base With Upside
- Passive NNN Leases
- Essential Service Tenant Base
- Near-Term Value-Add Opportunity
- Growth-Oriented Submarket
- Well-Located
EXECUTIVE SUMMARY
BROWN RETAIL GROUP is excited to present the exclusive sale offering of Arlington Plaza 173, a well-maintained medical and professional office building located just off I-5 in Arlington, WA. The property houses six suites totaling 9,662 SF and is currently 80.6% occupied by three tenants. The rent roll offers staggered lease expirations through 2030 for three tenants, and features a new 10- year NNN lease with a dental professional. The Property is home to a mix of healthcare and service oriented tenants. The Smokey Point submarket has experienced consistent rent growth over the past five years, and is quickly becoming a target for industry and tenant movement in the Puget Sound region. The Property is located just between the Smokey Point Transit Center and 172nd Street, and is less than half a mile from I-5.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
9,662 SF
Building Class
B
Year Built
2006
Price
$1,950,000
Price Per SF
$201.82
Cap Rate
5.92%
NOI
$115,440
Percent Leased
81%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,831 SF
Slab To Slab
12’
Building FAR
0.48
Lot Size
0.46 AC
Opportunity Zone
Yes
Zoning
HC - Health Care
Parking
18 Spaces (1.86 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Could be 3 offices separated
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 202 | 868 SF | Office | Full Build-Out | 30 Days |
2nd Fl-Ste 202
| Size |
| 868 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
2nd Fl-Ste 202
| Size | 868 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | 30 Days |
Could be 3 offices separated
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 004302-000-005-00 | Improvements Assessment | $1,686,400 |
| Land Assessment | $598,100 | Total Assessment | $2,284,500 |
PROPERTY TAXES
Parcel Number
004302-000-005-00
Land Assessment
$598,100
Improvements Assessment
$1,686,400
Total Assessment
$2,284,500
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Plaza 173 | 3402 173rd Pl NE
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