Arlington Retail Space For
For Sale
$1,350,000
131 W Division St, Arlington, WA
Profitable spa and stove shop in a fantastic corner location.
Property Size2,740 SF
Lot Size0.29 Acres
Price / SF$492.70
Days on Market260
Property Features for 131 W Division St
General Information
Standard status
Active
Size
2,740 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
John L. Scott Snohomish
(425) 870-5161
Listed By:
John Miller
(425) 870-5161
Source:
Moodyscre
Added: Dec 3, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:35AM
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 John L. Scott Snohomish
Investment Insights
Based on property information with market context.
This property is a retail space currently operating as a profitable spa and stove shop. It benefits from a corner location in Arlington, offering great street presence and parking. The building is in great condition and includes a grade-level bay with a 10-foot door. The property has a size of 2740 square feet.
Key Highlights
- Profitable business (Spa and Stove shop)
- Fantastic corner location in Arlington
- Great street presence
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
$38,612
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
2.86%
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%
$772,240
$772.2K
Cap Rate 7%
$551,600
$551.6K
Cap Rate 9%
$429,022
$429.0K
Market Conditions
NOI Build-Up for 2,740 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
$59.2K $21.60/SF
− Vacancy
−$4.0K −$1.47/SF
EGI
$55.2K $20.13/SF
− OpEx
−$16.5K −$6.04/SF
NOI
$38.6K $14.09/SF
Area
Snohomish County, WA
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$772,240
Cap Rate 7%
$551,600
Cap Rate 9%
$429,022
Alternative Uses
Best Use
Retail
$551.6K
$482.7K – $643.5K
NOI $38,612 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.1K
$668.6K – $891.5K
NOI $53,490 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Home Improvements & Furnishings 31%
Groceries 15%
Dining 3%
Arlington Hardware & Lumber, Inc
Home Improvements & Furnishings
26,567 visits/mo
0.4 miles
Dollar Tree
Shops & Services
15,778 visits/mo
0.1 miles
Grocery Outlet Bargain Market
Groceries
12,538 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,672 visits/mo
0.1 miles
Coastal Community Bank
Shops & Services
3,723 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Profitable spa and stove shop in a fantastic corner location.
Where is this retail space located?
The property is located at 131 W Division St Arlington, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Profitable business (Spa and Stove shop); Fantastic corner location in Arlington; Great street presence
