Bothell Office and Warehouse
For Sale
$3,600,000
Pending
810 240th St SE, Bothell, WA 98021
Stand-alone office with warehouse and fenced yard in Bothell.
Property Size7,913 SF
Days on Market520
Property Features for 810 240th St SE
General Information
Standard status
Pending
Size
7,913 SF
Property subtype
Commercial
Building Details
Year Built
1954
Listing Agency:
KIDDER MATHEWS
(425) 450-1118
Listed By:
TODD GAUTHIER · License #GAUTHTE349O
Source:
Corcoran
Added: Mar 31, 2025
Changed: Jul 6
Last Checked: Jul 23 at 9:38AM
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 KIDDER MATHEWS
Investment Insights
Based on property information with market context.
This property features a stand-alone office building with high-end finishes. Additionally, there is a 2,517 square foot warehouse building. The property includes 8,115 square feet of fenced yard space. Located in Bothell, Washington, the property can be leased or purchased. Furniture is available.
Key Highlights
- Rare stand‑alone office building
- Additional 2,517 SF warehouse building
- 8,115 SF of additional fenced yard space
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
$140,941
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
3.92%
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%
$2,818,820
$2.8M
Cap Rate 7%
$2,013,443
$2.0M
Cap Rate 9%
$1,566,011
$1.6M
Market Conditions
NOI Build-Up for 7,913 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
$216.5K $27.36/SF
− Vacancy
−$28.6K −$3.61/SF
EGI
$187.9K $23.75/SF
− OpEx
−$47.0K −$5.94/SF
NOI
$140.9K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
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%
$2,818,820
Cap Rate 7%
$2,013,443
Cap Rate 9%
$1,566,011
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.35M
NOI $140,941 @ 7.0% cap · market cap 3.92%
Second Best
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,048 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,476 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 98021, WA
34,001
Population
12,629
Households
2.7
Avg Household Size
38
Median Age
60%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,366
Density / Sq Mi
$172,559
Median Household Income
$88,673
Median Earnings
$2,537
Median Rent
$902,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Stand-alone office with warehouse and fenced yard in Bothell.
Where is this office building located?
The property is located at 810 240th St SE Bothell, WA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Rare stand‑alone office building; Additional 2,517 SF warehouse building; 8,115 SF of additional fenced yard space
