Retail Building with Approved
For Sale
$1,200,000
Pending
18007 120th Ave NE, Bothell, WA 98011
Single-story retail building with approved drive-thru, excellent freeway exposure.
Property Size2,500 SF
Days on Market1288
Property Features for 18007 120th Ave NE
General Information
Standard status
Pending
Size
2,500 SF
Property subtype
Commercial
Building Details
Year Built
2021
Listing Agency:
NAI PUGET SOUND PROPERTIES
Listed By:
DICK PAYLOR, CCIM
(206) 972-8567
Source:
Corcoran
Added: Apr 11, 2023
Changed: Oct 1
Last Checked: Oct 16 at 9:08AM
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 NAI PUGET SOUND PROPERTIES
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Investment Insights
Based on property information with market context.
This is a single-story retail building with an approved drive-thru, suitable for a Quick Service Restaurant (QSR) or similar use. Alternatively, it can be used as a two-lane drive-thru coffee kiosk with outdoor seating. The building offers up to 2,500 square feet and is available for ground sale or build-to-suit/lease. The property benefits from outstanding freeway exposure and building signage, with 84,000 Average Daily Traffic (ADT) on State Route 522 and 13,400 ADT on 120th Avenue NE. The parcel size is approximately 20,194 square feet and has site plan approval. Neighboring businesses include Home Depot, Starbucks, US Foods|Chef’s Store, and 24 Hour Fitness. The location benefits from over 600 existing multi-family units across 120th Avenue NE, with over 1,000 new multi-family units under construction within walking distance.
Key Highlights
- Approved drive‑thru for QSR or coffee kiosk use.
- Outstanding freeway exposure and building signage** with high traffic counts (84,000 ADT on SR522).
- Large parcel (approximately 20,194 SF) with site plan approval.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,438
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,760
$1.1M
Cap Rate 7%
$763,400
$763.4K
Cap Rate 9%
$593,756
$593.8K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$75.0K $30.00/SF
− Vacancy
−$3.8K −$1.50/SF
EGI
$71.3K $28.50/SF
− OpEx
−$17.8K −$7.13/SF
NOI
$53.4K $21.38/SF
Area
King County, WA
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,760
Cap Rate 7%
$763,400
Cap Rate 9%
$593,756
Alternative Uses
Best Use
Specialty Retail
$763.4K
$668.0K – $890.6K
NOI $53,438 @ 7.0% cap · market cap 4.45%
Second Best
Retail
$638.9K
$559.0K – $745.4K
NOI $44,722 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,092 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 81%
Dining 16%
Shops & Services 4%
The Home Depot
Home Improvements & Furnishings
57,091 visits/mo
0.1 miles
Starbucks
Dining
9,135 visits/mo
0.1 miles
State Farm Insurance
Shops & Services
2,564 visits/mo
0.1 miles
Taco Del Mar
Dining
1,954 visits/mo
0.1 miles
Demographics for 98011, WA
27,897
Population
12,424
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
95%
High-School Grad
7.1 sq mi
ZIP Area
3,929
Density / Sq Mi
$127,445
Median Household Income
$77,467
Median Earnings
$2,223
Median Rent
$888,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Single-story retail building with approved drive-thru, excellent freeway exposure.
Where is this drive through restaurant located?
The property is located at 18007 120th Ave NE Bothell, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approved drive‑thru for QSR or coffee kiosk use.; Outstanding freeway exposure and building signage** with high traffic counts (84,000 ADT on SR522).; Large parcel (approximately 20,194 SF) with site plan approval.
