Lynnwood Flex Space For
For Sale
$1,290,000
15701 Hwy 99, Lynnwood, WA 98087
Flex space building with office and industrial features available for purchase.
Property Size5,215 SF
Price / SF$247.36
Days on Market989
Property Features for 15701 Hwy 99
General Information
Standard status
Active
Size
5,215 SF
Building Details
Year Built
1956
Listing Agency:
ROSEN-HARBOTTLE COMMERCIAL R.E
Listed By:
CALEB FARNWORTH, CCIM
(425) 289-2235
Source:
Corcoran
Added: Feb 2, 2024
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 ROSEN-HARBOTTLE COMMERCIAL R.E
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space property is available for sale and is located within a UC zone. The building has a total area of 5,215 square feet, which includes 1,008 square feet of office space. The property is situated on a 10,086 square foot lot. It features one grade-level loading door and a 9-foot clear height. The building is equipped with 400 amps of electrical power and pneumatic air. Recent upgrades have been made to the building.
Key Highlights
- Owner/User opportunity in a UC zone.
- Substantial 5,215 SF building on a 10,086 SF lot.
- Features 400 amps of electrical power.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,807
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,176,140
$1.2M
Cap Rate 7%
$840,100
$840.1K
Cap Rate 9%
$653,411
$653.4K
Market Conditions
NOI Build-Up for 5,215 SF
Gross rent
$98.9K $18.96/SF
− Vacancy
−$8.4K −$1.61/SF
EGI
$90.5K $17.35/SF
− OpEx
−$31.7K −$6.07/SF
NOI
$58.8K $11.28/SF
Area
Snohomish County, WA
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,176,140
Cap Rate 7%
$840,100
Cap Rate 9%
$653,411
Alternative Uses
Best Use
Flex RnD
$840.1K
$735.1K – $980.1K
NOI $58,807 @ 7.0% cap · market cap 4.56%
Second Best
Industrial
$723.6K
$633.1K – $844.2K
NOI $50,651 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,806 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98087, WA
40,711
Population
16,625
Households
2.4
Avg Household Size
35
Median Age
39%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
7,142
Density / Sq Mi
$106,541
Median Household Income
$56,592
Median Earnings
$2,010
Median Rent
$633,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Chef Tonys Catering — 3223 164th St SW R, Lynnwood, WA 98087
Frequently Asked Questions
What type of property is this?
Flex space - Flex space building with office and industrial features available for purchase.
Where is this flex space located?
The property is located at 15701 Hwy 99 Lynnwood, WA.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Owner/User opportunity in a UC zone.; Substantial 5,215 SF building on a 10,086 SF lot.; Features 400 amps of electrical power.
