Medical Office Feasibility Study in the Seattle-Tacoma-Bellevue, WA Metro Area

Seattle medical: a physician-office record built on small tickets

Inside Seattle, Tacoma and Bellevue the medical office (physicians) class ranks 12 of 39; against all areas, Seattle, Tacoma and Bellevue ranks 21 of 488 for the class. A location quotient of 0.65x tells us physician offices carry a thinner slice of local SBA lending than their weight elsewhere. For FY2017 to FY2026, SBA's files hold 76 loans and $42.9 million. At $200,000, the median is 0.58x of the national medical office median; ordinary loans run $59,125 to $608,875.

Franchise ownership reads 0.00%. King County accounts for 43 loans, Pierce County 24 and Snohomish County 9. The lender list is bank-led: U.S. Bank, National Association holds 16 loans for $7.4 million, KeyBank National Association 10 for $1.9 million, JPMorgan Chase Bank, National Association 6 for $633,000, and BayFirst National Bank 5 for $606,200. The division between the two programs is withheld by Loan Analytics because the loans behind it are few; missing never means zero. The lender table is SBA's holder record, with no claim about the criteria of U.S. Bank, National Association. This is a holding record.

For medical office loans in the area, the FY2017 to FY2024 cohorts show cancellation of 9.4% or more, counted only as SBA logged. The ceiling, with undisbursed loans cancelled, also reads 9.4%. The floor for charged-off loans is withheld by Loan Analytics because the loans behind it are few; missing never means zero. Annual counts stay small: 5 loans and $450,000 in FY2017, 7 and $4.8 million in FY2019, 11 and $5.3 million in FY2021, 5 and $6.5 million in FY2022, then 15 and $5.5 million in FY2025 and 8 and $8.7 million in FY2026. Other years rest on too few loans to print.

Seattle medical: testing a physician office plan

A physician-office study needs patient demand and payer mix for the specialty, build-out cost against tenant improvement allowances, the lease or ownership structure, and coverage of debt service for a practice whose income rests on a few clinicians. A buyer of an existing practice also needs goodwill separated from the real estate in the appraisal. A medical office loan counts here when the county of its project is on the July 2023 metro map. No county match, no inclusion. The middle half of loans runs from $59,125 to $608,875, so the study should test coverage near both ends. Read the figures as background for a physician-office study; they imply no approval.