Retail Building with Automotive
For Sale
Contact for pricing
15006 Hwy 99, Lynnwood, WA 98087
Retail building offered for sale with 2,964 square feet and an identified 7.00% cap rate.
Property Size2,964 SF
Price / SF$438.60
Days on Market144
Property Features for 15006 Hwy 99
General Information
Standard status
Active
Size
2,964 SF
Property subtype
Retail, Mixed Use
Zoning
MUC
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$91,000
Additional Details
Cap Rate
7%
Building Details
Year Built
1990
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Drew Isaac · License #CO FA.100023779
Source:
Crexi
Added: Apr 16
Changed: Aug 28
Last Checked: Sep 1 at 8:49PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This retail building is offered for sale and totals 2,964 square feet. The offering is presented with a stated 7.00% cap rate.
The property is located at 15006 Hwy 99 in Lynnwood, Washington (98087). The listing is categorized as retail/automotive property, indicating compatibility with automotive-oriented retail uses.
For buyers and brokers, the key deliverable is the 2,964 square foot retail configuration with the stated income metric in the remarks.
The property is located at 15006 Hwy 99 in Lynnwood, Washington (98087). The listing is categorized as retail/automotive property, indicating compatibility with automotive-oriented retail uses.
For buyers and brokers, the key deliverable is the 2,964 square foot retail configuration with the stated income metric in the remarks.
Key Highlights
- Retail building built in 1990
- 2,964 SF retail space
- Listed with a 7.00% cap rate
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
$41,768
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
3.21%
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%
$835,360
$835.4K
Cap Rate 7%
$596,686
$596.7K
Cap Rate 9%
$464,089
$464.1K
Market Conditions
NOI Build-Up for 2,964 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
$64.0K $21.60/SF
− Vacancy
−$4.4K −$1.47/SF
EGI
$59.7K $20.13/SF
− OpEx
−$17.9K −$6.04/SF
NOI
$41.8K $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%
$835,360
Cap Rate 7%
$596,686
Cap Rate 9%
$464,089
Alternative Uses
Best Use
Retail
$596.7K
$522.1K – $696.1K
NOI $41,768 @ 7.0% cap · market cap 3.21%
Second Best
Industrial
$411.3K
$359.9K – $479.8K
NOI $28,788 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$826.6K
$723.3K – $964.4K
NOI $57,863 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
125k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 33%
Dining 32%
Safeway
Groceries
43,537 visits/mo
0.1 miles
Safeway Gas
Shops & Services
19,372 visits/mo
0.1 miles
McDonald's
Dining
16,138 visits/mo
0.1 miles
Taco Bell
Dining
13,286 visits/mo
0.1 miles
Chevron
Shops & Services
11,914 visits/mo
0.2 miles
Demographics for 98087, WA
40,711
Population
16,625
Households
2.4
Avg Household Size
35
Median Age
39%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
7,142
Density / Sq Mi
$106,541
Median Household Income
$56,592
Median Earnings
$2,010
Median Rent
$633,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Retail building offered for sale with 2,964 square feet and an identified 7.00% cap rate.
Where is this auto shop located?
The property is located at 15006 Hwy 99 Lynnwood, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Retail building built in 1990; 2,964 SF retail space; Listed with a 7.00% cap rate
