875 Wesley StArlington, WA 98223

This 15,271 square foot multi-tenant medical office building in Arlington, WA, presents a compelling investment opportunity. Located on a 1.67-acre lot (APN 00812700000100) at 875 Wesley St, 98223, this 1991-built property boasts a current NOI of $324,728 and a 5.84% cap rate, with a pro-forma NOI of $426,835 and a pro-forma cap rate of 7.11%. Currently 87% occupied, the building offers significant value-add potential through leasing vacant units. The property features a strong rent roll with occupied spaces averaging $29.36 per square foot, NNN. This is a triple net (NNN) lease property. The building is situated near Skagit Regional Health and Cascade Valley Hospital, providing excellent visibility and access to a substantial patient base. The existing owner-user occupies a portion of the building, offering a unique opportunity for a new owner to establish a presence in a thriving medical market while benefiting from below-replacement-cost acquisition. The property's strategic location and strong tenant base make it an attractive investment for both owner-users and passive investors seeking stable cash flow and potential for appreciation.