Downtown Edmonds Retail
For Sale
Contact for pricing
109 Main St, Edmonds, WA 98020
Retail space for sale in the heart of Edmonds.
Property Size3,576 SF
Lot Size0.08 Acres
Price / SF$461.41
Days on Market1067
Property Features for 109 Main St
General Information
Standard status
Active
Size
3,576 SF
Lot size
0.08 Acres
Property subtype
Retail
Listing Agency:
CBRE - Bellevue
(425) 462-6906
Listed By:
Erik Larson · License #110586
Source:
Crexi
Added: Sep 12, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Bellevue
Investment Insights
Based on property information with market context.
This retail property is located on Main Street in downtown Edmonds. The parcel size is approximately 3,485 square feet (0.08 acres). The property is zoned BC by the City of Edmonds. It features high visibility and strong area demographics. The location is near the Edmonds/Kingston ferry terminal and within walking distance of retail, residential, and financial institutions. The property includes five on-site parking stalls. It offers panoramic views of the Olympic Mountains and Puget Sound. The property has two long-time tenants, and the rent roll is available upon request.
Key Highlights
- High visibility location on Main Street in downtown Edmonds.
- Panoramic Olympic Mountain and Puget Sound views.
- Zoned BC - City of Edmonds.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,392
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,840
$1.0M
Cap Rate 7%
$719,886
$719.9K
Cap Rate 9%
$559,911
$559.9K
Market Conditions
NOI Build-Up for 3,576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.2K $21.60/SF
− Vacancy
−$5.3K −$1.47/SF
EGI
$72.0K $20.13/SF
− OpEx
−$21.6K −$6.04/SF
NOI
$50.4K $14.09/SF
Area
Snohomish County, WA
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,840
Cap Rate 7%
$719,886
Cap Rate 9%
$559,911
Alternative Uses
Best Use
Retail
$719.9K
$629.9K – $839.9K
NOI $50,392 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$997.3K
$872.6K – $1.16M
NOI $69,810 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 32%
Apparel 16%
Hotels & Casinos 11%
Top Pot Doughnuts
Dining
9,973 visits/mo
0.1 miles
Chase Bank
Shops & Services
6,192 visits/mo
0.4 miles
Claire's
Apparel
5,144 visits/mo
0.1 miles
Bank of America
Shops & Services
3,698 visits/mo
0.1 miles
Best Western Plus Edmonds Harbor Inn
Hotels & Casinos
3,418 visits/mo
0.3 miles
Demographics for 98020, WA
20,236
Population
9,379
Households
2.2
Avg Household Size
52
Median Age
60%
College-Educated
98%
High-School Grad
5.2 sq mi
ZIP Area
3,892
Density / Sq Mi
$122,243
Median Household Income
$73,725
Median Earnings
$1,894
Median Rent
$959,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space for sale in the heart of Edmonds.
Where is this retail space located?
The property is located at 109 Main St Edmonds, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: High visibility location on Main Street in downtown Edmonds.; Panoramic Olympic Mountain and Puget Sound views.; Zoned BC - City of Edmonds.
