1551 116th Avenue NE, Bellevue, WA 98004
- $7,750,000
Listing courtesy of Dynasty Realty, Inc..
- List Price
- $7,750,000
- Status
- ACTIVE
- MLS#
- 2576946
- Days on Market
- 0
- Internet Provider
- Xfinity
Property Description
Rare opportunity to acquire a fully occupied medical/dental property with a proven history of long-term tenancy and stable income. This well-established medical/dental building features a diversified tenant mix of healthcare and wellness users, including a skin surgery practice with over 23 years of occupancy, a dental office with over 15 years occupancy, and a chiropractic practice with over 4 years occupancy at the property. A spa tenant has also joined the property in 2025, providing additional diversification. The property's strong tenant retention and 100% occupancy provide an attractive investment profile for an investor seeking stable medical-office income. Investment Highlights: o 100% occupied Medical/Dental building o $308,617 current NOI o 4.0% capitalization rate o Skin surgery center — 23+ years o Dental office — 15+ years o Chiropractic practice — 4+ years o Spa — 1+ years o Diversified medical and wellness tenant mix o Established tenant history with demonstrated longevity o Financials available upon request with a signed NDA
Additional Information
- Community
- Downtown Bellevue
- Building Condition
- Good
- Style
- 73 - Office
- Year Built
- 1974
- Roof
- Composition
- Potential Terms
- Cash, Conventional
- Driving Directions
- I405 N/S, Take NE 8th St towards E, Left on 116th Ave NE, property to your left
- Energy Source
- Electric
- Net Operating Income
- $308,617
- Cap Rate
- 4
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