Flexible Office
For Sale
Contact for pricing
18927 33rd Ave W, Lynnwood, WA 98036
Office building with strong street presence and parking, featuring a flexible floor plate adaptable to many operational needs.
Property Size4,904 SF
Price / SF$397.63
Days on Market959
Property Features for 18927 33rd Ave W
General Information
Standard status
Active
Size
4,904 SF
Property subtype
OFFICE
Additional Details
Business Included
No
Listing Agency:
Lee & Associates Commercial Real Estate Services
(425) 454-4242
Listed By:
Jeff Tillman
(206) 915-7061
Source:
Moodyscre
Added: Mar 14, 2024
Changed: Oct 25
Last Checked: Oct 26 at 8:06PM
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 Lee & Associates Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
This office building is offered for sale with an emphasis on street presence, parking, and a flexible floor plate. The layout is described as adaptable to most occupancy and operational needs, making it suitable for a range of office configurations.
The public remarks also note the possibility of remodel or redevelopment for buyers who choose to pursue updates or a new direction for the site.
Overall, the asset presents a practical office option with flexibility in how the space can be used, along with the opportunity to consider interior or property-level improvements.
The public remarks also note the possibility of remodel or redevelopment for buyers who choose to pursue updates or a new direction for the site.
Overall, the asset presents a practical office option with flexibility in how the space can be used, along with the opportunity to consider interior or property-level improvements.
Key Highlights
- Office building with strong street presence
- Parking available on‑site
- Flexible floor plate adaptable to many occupancy and operational needs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,347
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,746,940
$1.7M
Cap Rate 7%
$1,247,814
$1.2M
Cap Rate 9%
$970,522
$970.5K
Market Conditions
NOI Build-Up for 4,904 SF
Gross rent
$134.2K $27.36/SF
− Vacancy
−$17.7K −$3.61/SF
EGI
$116.5K $23.75/SF
− OpEx
−$29.1K −$5.94/SF
NOI
$87.3K $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 Rate 5%
$1,746,940
Cap Rate 7%
$1,247,814
Cap Rate 9%
$970,522
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.46M
NOI $87,347 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,735 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,599
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office building with strong street presence and parking, featuring a flexible floor plate adaptable to many operational needs.
Where is this office building located?
The property is located at 18927 33rd Ave W Lynnwood, WA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Office building with strong street presence; Parking available on‑site; Flexible floor plate adaptable to many occupancy and operational needs
