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    16702 North Rd Bothell, WA 98012

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    For Sale
    Contact for pricing

    2.35 acres in Bothell/Martha Lake growth hub.

    Property size:
    102,365 SF
    Lot size:
    102.00 Acres

    Property Features for 16702 North Rd

    General Information

    Size
    102,365 SF
    Lot size
    102.00 Acres

    Building Details

    Year built
    1969

    We can help!

    Listing Contact
    Ryan Downing
    Source: Sperrycga

    Listing Agent: Ryan Downing

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Bothell Land Development Opportunity

    This property is centrally situated in the dynamic growth hub of Bothell and Martha Lake, near Lynnwood, Mill Creek, and Bothell West. It offers a development opportunity for developers, comprising four contiguous parcels totaling approximately 102,365 square feet (2.35 acres). The property is zoned MUC (Mixed-Use Corridor) in Unincorporated Snohomish County. The assemblage is suited for developers looking to address the Puget Sound's housing shortage, with the potential to deliver approximately 200+ units. There are incentives for high-density projects, underground parking possibilities, affordable housing benefits, and reduced parking requirements near transit zones, aligning with the Urban Core Subarea's transit-oriented development goals. The location offers access to major tech hubs and a skilled workforce, near major employers like Amazon and Microsoft. The area has a blend of urban amenities and natural beauty, with proximity to scenic parks, local dining, and cultural attractions. There is high development potential with the capability to construct an 11-13 story building reaching up to 135 feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Northwood Apartments Apartment Complex

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2368896
    Latitude
    47.8468764

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    FAQs

    What type of property is this?
    Land - 2.35 acres in Bothell/Martha Lake growth hub.
    Where is this land located?
    The property is located at 16702 North Rd Bothell, WA.
    What are key features of this property?
    This property features: - Prime development opportunity in the high-growth Bothell/Martha Lake area.; - Large contiguous land assemblage: +/- 102,365 sf (2.35 acres) across four parcels.; - MUC (Mixed-Use Corridor) zoning allows for diverse commercial and residential development options.
    (206) 466-9147
    Request Owner's contact information
    16702 North Rd Bothell, WA 98012
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    Bothell, WA 98012
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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.

    More about this property
    16702 North Rd Bothell, WA 98012
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    We can help!
    Listing Contact
    Ryan Downing
    Real Estate License ID: #2512
    (206) 466-9147
    Learn more
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