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23473674

12533 35th Ave NE, Seattle, WA 98125

TN
WA 127468
Kidder Mathews Seattle
Listed by Kidder Mathews Seattle
$1,975,000
397 days on market
Updated 45 days ago

Seattle Oral Care Building

Details
Property Type Office
Sub Type Medical Office
Square Footage 5,757
Units 3
Cap Rate 5.53%
NOI $109,123
Tenancy Multi
Lease Expiration 07/31/2031
Rent Bumps Yes
Pro-Forma Cap Rate 6.65%
Pro-Forma NOI $131,345
Year Built 1976/1997
Acreage 0.560
Zoning LR3(M)
Parking Spaces 24 spaces
Parking Per SqFt 4.17
Investment Type Net Lease
Lease Commencement 07/01/2021
Ground Lease No

Office | 5.53% CAP | 5,757 SqFt

Marketing description

Prime Medical Office Investment Opportunity in the Heart of Seattle

The Seattle Oral Care Building, located at 12333 35th Ave NE, Seattle, WA, represents a rare and compelling opportunity to acquire a well-established medical office property in the core of the Seattle MSA. This 5,757-square-foot building sitting on over a half-acre lot, is anchored by Seattle Oral Care, a respected tenant that has occupied the property since 1997. In a strong show of continued commitment, the practice signed a new 10-year NNN lease in 2021, occupying approximately 55% of the building. Their suite is outfitted with advanced, state-of-the-art dental and surgical technology, making it a highly specialized and valuable space for medical use.

The lower level of the building is home to a naturopathic medical practice, providing complementary wellness use that enhances the tenant mix and broadens the appeal of the property within the healthcare sector.

Additionally, one suite remains vacant, offering immediate upside potential for investors through new lease-up, or a unique opportunity for an owner-user to occupy part of the building while benefiting from existing rental income. The layout and zoning support a wide variety of medical and professional office uses.

Strategically positioned less than half a mile from two of Seattle’s primary arterial roads—Lake City Way and Sand Point Way—the property offers excellent visibility and accessibility for both patients and tenants. Ample transportation options and a strong demographic base in the surrounding area further support long-term tenant retention and consistent demand for medical office space.

This is an ideal acquisition for investors seeking stable in-place income with value-add potential, or for an owner-user seeking a highly visible, functional, and well-located medical facility in one of Seattle’s established neighborhoods.

Investment highlights

Investment Highlights – Seattle Oral Care Building

  • Prime Location: Situated at 12333 35th Ave NE in Seattle, WA, within the core of the Seattle Metropolitan Statistical Area (MSA)

  • Well-Established Tenant: Seattle Oral Care has occupied the building since 1997 and signed a new 10-year NNN lease in 2021, occupying approximately 55% of the building

  • Modern Medical Build-Out: High-quality suite built to accommodate advanced oral surgery and dental equipment; ideal for top-tier medical professionals

  • Additional Income Stream: Lower level occupied by a naturopathic medicine practice, providing tenant diversification and added stability

  • Value-Add Opportunity: One suite currently vacant, offering potential for increased cash flow through lease-up or owner-user occupancy

  • Versatile Use: Ideal for a wide variety of medical and professional office users

  • Total Building Size: ±5,757 square feet

  • Strong Accessibility: Located less than 0.5 miles from both Lake City Way and Sand Point Way, major arterial roads with excellent transportation access

  • Attractive for Investors or Owner-Users: In-place income with future upside, or a unique owner-occupier opportunity in a low-vacancy market

Listing Contacts

TN
WA 127468
Kidder Mathews Seattle
Listed by Kidder Mathews Seattle

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$109,123.00
$9,093.58/mo

Valuation Metrics

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DSCR
5.53%
Cap Rate
5.53%
ROI

Map

Zoning

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LR2(M) ResidentialMulti FamilyLowrise Mandatory Housing Affordability
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Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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