Highway 99 Commercial
20505-20515 Highway 99, Lynnwood, WA 98036
Call to check price and availability
Two commercial buildings with showroom, offices, and service bays.
Type:INDUSTRIAL
Property size:
25,259 SFPrice / SF:
$247/SF- Added:
- Jul 1, 2024
- Days on Market:
- 698
- Last Refresh:
- May 27 at 7:46 am
Property Features for 20505-20515 Highway 99
General Information
- Standard status
- Active
- Size
- 25,259 SF
- Property subtype
- INDUSTRIAL
Listing agent Erik Swanson License #82677 (206) 296-9628
Listing office Kidder Mathews (206) 296-9628
Listing date Jul 1, 2024
Source Moodyscre
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
HighLights
- Two commercial buildings totaling over 25,000 square feet available.
- Former Mercedes dealership featuring a showroom, offices, parts area, and service bays.
- Second building includes a grade‑level roll‑up door and a dock‑high loading bay.
- Both properties have existing tenants on month‑to‑month leases.
- High visibility location on Highway 99.
- Opportunity to potentially acquire an adjoining property for further expansion.
Overview
The property includes two buildings located at 20505-20515 Highway 99. The first building, located at 20515 Highway 99, is a 16,152 square foot, 3-story building that was originally built as a Mercedes dealership. It includes a showroom with a waiting area, private offices, parts area, and service bays. The lower portion of the shop space is leased on a month-to-month basis to an auto repair business. The second building, located at 20505 Highway 99, totals 9,240 square feet across two floors and was originally built to suit a carpet store. It includes a grade-level roll-up door and a dock-high loading bay. The basement is occupied by a collision repair business on a month-to-month basis. The total property size is 25,259 square feet.
Local Financial Insights For Retail
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 | $545.6k | $21.60 |
| − Vacancy | −$37.1k | −$1.47 |
| EGI | $508.5k | $20.13 |
| − OpEx | −$152.5k | −$6.04 |
| NOI | $355.9k | $14.09 |
25,259 SF · lease $21.60/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.08M
$4.45M – $5.93M
NOI $355,946 @ 7.0% cap · market cap 5.70%
Second Best
Flex RnD
$4.07M
$3.56M – $4.75M
NOI $284,832 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$7.04M
$6.16M – $8.22M
NOI $493,101 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Auto shops
Similar Places Nearby
- 8-Velocity Motorsports — 21619 Hwy 99 suite f, Lynnwood, WA 98036
- Simple Auto Body & Restorations — 21701 Hwy 99, Lynnwood, WA 98036
- Advanced Sound & Tint — 21619 Hwy 99 STE G, Lynnwood, WA 98036
- SeaAutoCare — 21619 Hwy 99 ste h, Lynnwood, WA 98036
- Jeff's Auto Repair — 21701 Hwy 99, Lynnwood, WA 98036
Location Insight
- Map
- Local Demand
- City
- Lynnwood
- County
- Snohomish
- State
- Washington
- Longitude
- -122.3214675
- Latitude
- 47.8125704
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Two commercial buildings with showroom, offices, and service bays.
Where is this auto shop located?
The property is located at 20505-20515 Highway 99 Lynnwood, WA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Two commercial buildings totaling over 25,000 square feet available.; Former Mercedes dealership featuring a showroom, offices, parts area, and service bays.; Second building includes a grade‑level roll‑up door and a dock‑high loading bay.
