Creekside Professional Center | Microsoft Anchored |… — Sale in Silverdale, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Silverdale, WA 98383
  • Year built: 1994

Photos

Creekside Professional Center | Microsoft Anchored |… — Sale in Silverdale, WA, photo 1 of 2
Creekside Professional Center | Microsoft Anchored |… — Sale in Silverdale, WA, photo 2 of 2

Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Brown Group of Marcus & Millichap has been selected to exclusively market for sale Creekside Professional Center, a NNN professional and medical center in Silverdale, Washington. The property is anchored by Microsoft, which occupies ~ 22% of the GLA and has maintained tenancy for 9+ years, providing exceptional credit strength to the rent roll. The other 78% of the GLA is leased by medical, dental, and financial services tenants — necessity-based uses less susceptible to e-commerce disruption. All 9 tenants operate on NNN leases with minimal landlord responsibilities. The property has been well maintained and recently received parking lot, HVAC, heat pump, and sprinkler upgrades. The property is located within the Silverdale retail trade area — the commercial hub of the Kitsap Peninsula generating $1.2B+ in annual consumer spending – and is just 0.8 miles from St. Michael Medical Center, the leading healthcare provider on the Kitsap Peninsula. The Silverdale office and healthcare submarket carries a vacancy rate of just 3.1% with 3.8% year-over-year rent growth and virtually no new supply delivered or under construction, creating a high barrier-to-entry environment. Within three miles, the population has grown over 13% in the past decade with average household incomes exceeding $120,000. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • Anchored by Microsoft Corporation (NASDAQ: MSFT) • NNN Professional Center w/ Minimal Landlord Responsibilities • Healthcare and Financial Services-Oriented Tenancy • Recent Renovations + Well-Maintained Property • Dominant Silverdale Retail Trade Area | $1.2B+ Annual Consumer Spending • Adjacent to St. Michael's Medical Center | $645M Expansion • High Barrier-to-Entry Submarket with 3.1% Vacancy Rate • Affluent Demographics with Strong Population Growth

Market Context

This office in Silverdale, WA is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1994. Compare it against other office listings for sale in Silverdale, WA — view the full market.

Contact

Explore this market

Similar Office for Sale in Silverdale, WA