Listed by Northmarq - Seattle
$10,450,000
Capitol Square
Details
APN 082104-9050; 082104-9266; 082104-9265; 082104-9267; 082104-9279
Property Type Retail, Office
Sub Type Day Care/Nursery, Executive Office
Square Footage 45,340
Net Rentable (SqFt) 45,340
Units 18
Cap Rate 7.43%
NOI $776,638
Occupancy 100%
Tenancy Multi
Price per SqFt $230
Broker Co-Op Yes
Year Built 1983-1987
Buildings 5
Stories 1
Lot Size (SqFt) 202,323
Zoning PO - Professional Office
Parking Spaces 223 spaces
Parking per 1,000 SqFt 4.92
Investment Type Stabilized
Ground Lease No
Durable Medical Tenancy, Staggered Upside, Flexible Exit Strategy
Marketing description
Capitol Square is a 45,340 SF, 100% occupied office and medical park featuring 18 suites across five buildings. The property is anchored by a high-synergy mix of medical and health-service tenants, including Franciscan Medical Group, Labcorp, and various dental, chiropractic, and wellness providers. This medical oriented base, combined with Federal Way’s lower occupancy costs relative to CBD alternatives, provides investors with stable, durable in-place cash flow.
The asset offers significant strategic flexibility through its staggered lease expirations, which allow an investor to smooth rollover risk and mark rents to market over time. Uniquely, each of the five buildings is situated on its own tax parcel, creating a clear path for future value creation through phased sales, or individual building dispositions to owner-users. Positioned on 202,323 SF of land with ample parking, Capitol Square represents a stabilized suburban investment with built-in exit optionality.
Investment highlights
- 100% OCCUPIED MULTI-BUILDING OFFICE PARK
- MEDICAL AND HEALTH SERVICE TENANT BASE
- STRONG LOCAL DEMOGRAPHICS SUPPORT TENANT DEMAND
- STAGGERED LEASE EXPIRATIONS CREATE A MANAGEABLE VALUE-ADD RUNWAY
- INDIVIDUAL PARCEL CONFIGURATION PROVIDES FUTURE EXIT FLEXIBILITY
- SUBURBAN PRICING ADVANTAGE RELATIVE TO BROADER MARKET ALTERNATIVES
Listing Contacts
Listed by Northmarq - Seattle
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$776,638.00
$64,719.83/mo
Valuation Metrics
0
DSCR
7.43%
Cap Rate
7.43%
ROI
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