Secured-Parking Flex
For Sale
Contact for pricing
15615 Hwy 99, Lynnwood, WA 98087
Urban Commercial flex property combining warehouse and retail space with secured parking and immediate availability.
Property Size23,743 SF
Price / SF$138.99
Days on Market765
Property Features for 15615 Hwy 99
General Information
Standard status
Active
Size
23,743 SF
Property subtype
Industrial, Retail
Zoning
Urban Commercial
Lease Type
NNN
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Building Details
Stories
2
Listing Agency:
Rosen Harbottle Commercial Real Estate
Listed By:
Caleb Farnworth, CCIM · License #WA 94397
Source:
Crexi
Added: Sep 3, 2024
Changed: Oct 3
Last Checked: Oct 5 at 3:13PM
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 Rosen Harbottle Commercial Real Estate
Investment Insights
Based on property information with market context.
This Urban Commercial property combines warehouse and retail components within a fully sprinklered building. Up to 12,056 SF is available immediately, and the site includes secured parking. The flexible configuration supports commercial users seeking space that can accommodate both storage-oriented and customer-facing functions.
Located at 15615 Hwy 99 in Lynnwood, the property provides access to Highway 99, SR 525, 1-405, and I-5. The location connects the building with several regional transportation routes while retaining a warehouse-and-retail format suited to varied commercial operations. The property is offered for sale or lease.
Located at 15615 Hwy 99 in Lynnwood, the property provides access to Highway 99, SR 525, 1-405, and I-5. The location connects the building with several regional transportation routes while retaining a warehouse-and-retail format suited to varied commercial operations. The property is offered for sale or lease.
Key Highlights
- Up to 12,056 SF available immediately
- Warehouse and retail components in one property
- Fully sprinklered building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$300,195
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,003,900
$6.0M
Cap Rate 7%
$4,288,500
$4.3M
Cap Rate 9%
$3,335,500
$3.3M
Market Conditions
NOI Build-Up for 23,743 SF
Gross rent
$378.9K $15.96/SF
− Vacancy
−$25.8K −$1.09/SF
EGI
$353.2K $14.87/SF
− OpEx
−$53.0K −$2.23/SF
NOI
$300.2K $12.64/SF
Area
Snohomish County, WA
Vacancy
6.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,003,900
Cap Rate 7%
$4,288,500
Cap Rate 9%
$3,335,500
Alternative Uses
Best Use
Retail
$4.78M
$4.18M – $5.58M
NOI $334,583 @ 7.0% cap · market cap 10.14%
Second Best
Warehouse
$4.29M
$3.75M – $5.00M
NOI $300,195 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$6.62M
$5.79M – $7.73M
NOI $463,506 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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- Chef Tonys Catering — 3223 164th St SW R, Lynnwood, WA 98087
Frequently Asked Questions
What type of property is this?
Flex space - Urban Commercial flex property combining warehouse and retail space with secured parking and immediate availability.
Where is this flex space located?
The property is located at 15615 Hwy 99 Lynnwood, WA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Up to 12,056 SF available immediately; Warehouse and retail components in one property; Fully sprinklered building
