Lake View Office
For Sale
Contact for pricing
20102 Cedar Valley Rd, Lynnwood, WA 98036
9,530 SF office building with lake view for sale.
Property Size9,530 SF
Lot Size1.00 Acre
Price / SF$272.30
Days on Market944
Property Features for 20102 Cedar Valley Rd
General Information
Standard status
Active
Size
9,530 SF
Class
B
Lot size
1.00 Acre
Property subtype
Office
Zoning
NC
Occupancy
60%
Building Details
Year Built
1978
Buildings
1
Stories
2
Units
10
Listing Agency:
RE/MAX Metro Realty
(425) 230-7538
Listed By:
Jenny Liu · License #22024760
Source:
Crexi
Added: Jan 21, 2024
Changed: Aug 22
Last Checked: Aug 21 at 5:24AM
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 Metro Realty
Investment Insights
Based on property information with market context.
This 9,530 square foot office building offers a lake view and includes 45 parking spaces. The property is situated on a lot that is nearly one acre. It is located a short distance from the upcoming Lynnwood Light Rail Station, which is scheduled for completion in 2024. The Lynnwood Link project will extend light rail from Northgate into Snohomish County, serving four stations: Shoreline South/148th, Shoreline North/185th, Mountlake Terrace, and Lynnwood City Center.
Key Highlights
- Lakefront office building with lake views
- 9,530 SF office building on nearly 1 acre lot
- 45 parking spaces
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
$169,742
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
6.54%
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%
$3,394,840
$3.4M
Cap Rate 7%
$2,424,886
$2.4M
Cap Rate 9%
$1,886,022
$1.9M
Market Conditions
NOI Build-Up for 9,530 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
$260.7K $27.36/SF
− Vacancy
−$34.4K −$3.61/SF
EGI
$226.3K $23.75/SF
− OpEx
−$56.6K −$5.94/SF
NOI
$169.7K $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%
$3,394,840
Cap Rate 7%
$2,424,886
Cap Rate 9%
$1,886,022
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.83M
NOI $169,742 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,043 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,222
Businesses Nearby
Explore this area
Business Placement
Demographics for 98036, WA
42,248
Population
17,228
Households
2.5
Avg Household Size
39
Median Age
39%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
4,401
Density / Sq Mi
$89,566
Median Household Income
$54,455
Median Earnings
$1,686
Median Rent
$693,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 9,530 SF office building with lake view for sale.
Where is this office building located?
The property is located at 20102 Cedar Valley Rd Lynnwood, WA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Lakefront office building with lake views; 9,530 SF office building on nearly 1 acre lot; 45 parking spaces
