Waterfront Park

Asset Type

Office

Address
144 Railroad Ave Edmonds, WA United States 98020-7207
Asking Price

S$12,670,000

Sq Footage

53,191

Year Built

1982

Cap Rate

N/A

Additional Attributes

Property Description

Waterfront Park, a three-story office complex for sale, consisting of 28,461 sq. ft. of leased space (28,558 square feet BOMA) on a 0.72-acre parcel. Constructed in 1982, the office space is divided into 40 suites, catering to a variety of financial and professional tenants. The complex is situated in a premium waterfront location in rapidly growing downtown Edmonds, with sweeping, unobstructed views of Puget Sound. and is easily accessible by vehicle, Sound Transit and the Edmonds/Kingston Ferry. One block away from State Route 104 with direct access to I-5. Tenants enjoy numerous amenities, including spacious decks and covered parking. New state-of-the-art senior center planned for construction adjacent and directly to the south of the property.

Investment Highlights

  • Supply constrained market with a vacancy rate of just 2.7%
  • Highly educated and growing employment base translates into excellent office property fundamentals in the area
  • Stable income stream with significant upside in rent growth through reconfiguration or renovation
Listing Contacts
Adrienne Hunter
Sr Associate, Brokerage
Mark Thygesen
Mark Thygesen
VP, Capital Markets
+65 3159 4021
WA - 104827
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