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    Retail Building with Approved Drive-Thru Title is generated by Realmo AI

    18007 120th Ave NE, Bothell, WA 98011

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    For Sale
    $1,200,000

    Single-story retail building with approved drive-thru, excellent freeway exposure.

    Type:Commercial
    Property size:
    2,500 SF
    Price / SF:
    $480/SF
    Added:
    Apr 11, 2023
    Days on Market:
    1152
    Last Refresh:
    May 11 at 12:27 am

    Property Features for 18007 120th Ave NE

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    DICK PAYLOR, CCIM

    Listing agent DICK PAYLOR, CCIM

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Apr 11, 2023

    Source Corcoran

    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

    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.
    • Located near major retailers (Home Depot, Starbucks, US Foods|Chef’s Store, and 24 Hour Fitness).
    • High‑density residential area with over 600 existing MF units and over 1,000 new MF units under construction nearby.
    • New construction (built in 2021).

    Overview

    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.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.178
    Latitude
    47.7602

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    FAQs

    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.
    (206) 972-8567
    We can help!
    Listing Contact
    DICK PAYLOR, CCIM
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    18007 120th Ave NE, Bothell, WA 98011
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