Prime Commercial Property Near Lynnwood
5026 196th St SW Lynnwood, WA 98036
5026 196th St SW, Lynnwood, WA, 98036
$11,000,000
For Sale
$11,000,000
3.14 acres near Lynnwood Link Extension, great for redevelopment.
Property Size28,560 SF
Price / SF$385.15
Days on Market510
Property Features for 5026 196th St SW
General Information
- Standard status
- Active
- Size
- 28,560 SF
Building Details
- Year Built
- 1977
Listing Agency
RE/MAX NORTHWEST REALTORS
(425) 484-0865
Listed by
RICKY MOUW
Source
Corcoran
Added: Feb 24, 2025 Checked: Jul 19 at 4:26 am
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 RE/MAX NORTHWEST REALTORS
Investment Insights
Based on property information with market context.
This 3.14-acre commercial property is located on 196th St SW in Lynnwood, near the Lynnwood Link Extension. Zoned for general commercial use, the property is suitable for retail, office, warehouse, and future redevelopment. The existing structure includes a large office/retail space, a full prep kitchen, a food distribution area with a walk-in freezer and cooler, drive-thru access, semi-loading and unloading capabilities, and 155 parking stalls. The Lynnwood Link Project, extending light rail from Northgate into Snohomish County, will serve four stations: Shoreline South/148th, Shoreline North/185th, Mountlake Terrace, and Lynnwood City Center. Upon its opening in 2024, the light rail will provide fast and frequent service between south Snohomish County, the University of Washington, downtown Seattle, and the Eastside.
Key Highlights
- Prime commercial property near the Lynnwood Link Extension.
- Zoned General Commercial, ideal for retail, office, warehouse, and future redevelopment.
- Large office/retail space featuring a full prep kitchen and food distribution area.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $781.4k | $27.36 |
| − Vacancy | −$103.1k | −$3.61 |
| EGI | $678.3k | $23.75 |
| − OpEx | −$169.6k | −$5.94 |
| NOI | $508.7k | $17.81 |
28,560 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.27M
$6.36M – $8.48M
NOI $508,692 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$5.75M
$5.03M – $6.71M
NOI $402,463 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$7.96M
$6.97M – $9.29M
NOI $557,542 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Homage - Senior and Disabled ...
Charitable Organization
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FAQs
What type of property is this?
Commercial land - 3.14 acres near Lynnwood Link Extension, great for redevelopment.
Where is this commercial land located?
The property is located at 5026 196th St SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Prime commercial property near the Lynnwood Link Extension.; Zoned General Commercial, ideal for retail, office, warehouse, and future redevelopment.; Large office/retail space featuring a full prep kitchen and food distribution area.
