Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21301 87th Ave SE Woodinville, WA 98072

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $91,694

    Under construction warehouse, retail, office, and flex space for lease.

    Type:Commercial
    Property size:
    55,572 SF
    Added:
    Mar 6, 2023
    Days on Market:
    1141
    Last Refresh:
    Apr 5 at 11:16 pm

    Property Features for 21301 87th Ave SE

    General Information

    Standard status
    Active
    Size
    55,572 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    ROGER THORN

    Listing agent ROGER THORN

    Listing office KIDDER MATHEWS

    Listing date Mar 6, 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 KIDDER MATHEWS

    Overview

    Warehouse and Retail/Office/Flex Complex

    This complex features two buildings, with construction started in March 2025 and expected completion in Q1 of 2026. One building provides 55,572 square feet of warehouse and distribution space. The other building offers 18,852 square feet of retail, office, and flex space. Building B is easily divisible to approximately 25,000 square feet.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodinville
    County
    King
    State
    Washington
    Longitude
    -122.117
    Latitude
    47.8039

    Nearby Similar for Lease

    • Contact for pricing

      Woodinville Retail/Tasting Room Opportunity

      Modern 1,000 SF space suitable for tasting room or coffee shop.
      19255 Woodinville Snohomish Rd NE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Retail Space in Woodinville Center

      1,150 SF retail space in established neighborhood center.
      17301 140th Ave NE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Turn-Key Office/Retail Space Available

      Prime Woodinville location, ideal for various professional services.
      12601 Woodinville Dr, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Downtown Woodinville Retail Space

      Rare retail space in vibrant Woodinville retail district.
      13317 175th St, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Turn-Key Woodinville Retail/Office Space

      Prime Woodinville location, suitable for retail or office use.
      12601 Woodinville Dr, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Retail Space Next to Target

      Retail space with great visibility and parking in Woodinville.
      17849 Garden Way NE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Turnkey Restaurant Space For Rent

      Fully equipped restaurant space with high foot traffic location.
      17300 135th Ave NE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Woodinville Retail Space with Patio

      Former tasting room with open layout and prominent patio.
      17409 133rd Ave NE, Woodinville, WA 98072
      View Details
    • $37,654/mo

      Retail Space in Wine District

      Retail space for lease in Woodinville's popular wine district.
      17300 135th Ave NE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Renovated Office Suites in Woodinville

      Full-service office suites in Woodinville Wine Country available for rent.
      14400 145th St, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Secured Flex Space with Office

      One acre yard with shop, storage, and office space.
      5931 238th St SE, Woodinville, WA 98072
      View Details
    • Contact for pricing

      Woodinville Office Space Available

      First floor office space with tenant improvements available.
      19011 Woodinville Snohomish Road, Woodinville, WA 98072
      View Details

    FAQs

    What type of property is this?
    Flex space - Under construction warehouse, retail, office, and flex space for lease.
    Where is this flex space located?
    The property is located at 21301 87th Ave SE Woodinville, WA.
    What is the lease rate?
    The lease rate is $91,694.
    What are key features of this property?
    This property features: New construction: Completion expected in Q1 2026.; Two‑building complex: Includes warehouse/distribution and retail/office/flex space.; Substantial warehouse space: **55,572 sf available.**
    We can help!
    Listing Contact
    ROGER THORN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!