Automotive Service and Showroom
20505 Highway 99 Lynnwood, WA 98036
For Sale
$6,250,000
Two Highway 99 buildings include showroom and service bays, plus grade-level and dock-high loading, with month-to-month automotive tenants.
Property Size25,259 SF
Price / SF$247.44
Days on Market690
Property Features for 20505 Highway 99
General Information
- Standard status
- Active
- Size
- 25,259 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1978
Listing Agency:
KIDDER MATHEWS
(206) 296-9628
Listed By:
ERIK SWANSON · License #82677
Source:
Corcoran
Added: Sep 2, 2024
Changed: Jul 23
Last Checked: Jul 23 at 12:37PM
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
Investment Insights
Based on property information with market context.
This offering includes two connected commercial buildings on Highway 99. The 3-story building at 20515 Highway 99 was originally built as a Mercedes dealership and features a showroom with a waiting area, private offices, a 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 2-story building at 20505 Highway 99 was originally built to suit a carpet store and 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 adjoining property that is currently operated by Ritz Furniture is also listed for sale, providing an opportunity to review additional available space as part of the broader site.
The 2-story building at 20505 Highway 99 was originally built to suit a carpet store and 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 adjoining property that is currently operated by Ritz Furniture is also listed for sale, providing an opportunity to review additional available space as part of the broader site.
Key Highlights
- 16,152 SF, 3‑story building on Highway 99 originally built as a Mercedes dealership
- Showroom and waiting area plus private offices, parts area, and service bays in the 16,152 SF building
- Lower shop space is leased on a month‑to‑month basis to an auto repair business
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
Industrial
$3.50M
$3.07M – $4.09M
NOI $245,328 @ 7.0% cap · market cap 3.93%
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.
Property Analytics
Location Intelligence
Current Use by Public Records
Jafar Co.
Hardware & Home Improvement
Similar Off Market 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
FAQs
What type of property is this?
Auto shop - Two Highway 99 buildings include showroom and service bays, plus grade-level and dock-high loading, with month-to-month automotive tenants.
Where is this auto shop located?
The property is located at 20505 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: 16,152 SF, 3‑story building on Highway 99 originally built as a Mercedes dealership; Showroom and waiting area plus private offices, parts area, and service bays in the 16,152 SF building; Lower shop space is leased on a month‑to‑month basis to an auto repair business
