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    4820 196Th St SW Lynnwood, WA 98036

    For Sale
    $5,500,000

    0.91 acre vacant land near Light Rail Station.

    Property size:
    39,640 SF

    Property Features for 4820 196Th St SW

    General Information

    Standard status
    Active
    Size
    39,640 SF

    Source: WINDERMERE GREENWOOD Agent JACK MALEK

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Transit Oriented Development Land

    This 0.91-acre vacant land is located on 196th St, suitable for transit-oriented development. The property, formerly an Alfy's Pizza location, is mostly level and cleared. It is situated blocks away from a Light Rail Station, approximately 0.3 miles. Located within an Opportunity Zone, it offers potential deferred, reduced, or excluded gains taxes and eligibility for a Heritage Community Development Loan of $15 million. The property has been recently upzoned to PCD (Planned Commercial Development), which allows for residential mixed-use development. There are no height or parking requirements. It is ideal for 5/2 podium construction with ground-level retail. The city is scheduled to complete new zoning design standards by May 2025. The property is priced for developer terms, and the seller is willing to negotiate for a quicker closing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2987393
    Latitude
    47.820504

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    FAQs

    What type of property is this?
    Commercial land - 0.91 acre vacant land near Light Rail Station.
    Where is this commercial land located?
    The property is located at 4820 196Th St SW Lynnwood, WA.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: - Transit-Oriented Development: Just blocks (0.3 miles) from a Light Rail Station.; - Opportunity Zone: Benefit from potential deferred, reduced, or excluded gains taxes.; - Upzoned to PCD: Allows for residential mixed-use development with no height or parking requirements.
    Request Owner's contact information
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    Lynnwood, WA 98036
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4820 196Th St SW Lynnwood, WA 98036
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