Retail Building with Approved
18007 120th Ave NE Bothell, WA 98011
18007 120th Ave NE, Bothell, WA, 98011
$1,200,000
Pending
For Sale
$1,200,000
Pending
Single-story retail building with approved drive-thru, excellent freeway exposure.
Property Size2,500 SF
Days on Market1198
Property Features for 18007 120th Ave NE
General Information
- Standard status
- Pending
- Size
- 2,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2021
Listing agency
NAI PUGET SOUND PROPERTIES
(206) 972-8567
Listed by
DICK PAYLOR, CCIM
Source
Corcoran
Added: Apr 11, 2023 Updated: Jul 6 at 7:42AM Checked: Jul 21 at 4:48AM
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 NAI PUGET SOUND PROPERTIES
Investment Insights
Based on property information with market context.
This is a single-story retail building with an approved drive-thru, suitable for a Quick Service Restaurant (QSR) or similar use. Alternatively, it can be used as a two-lane drive-thru coffee kiosk with outdoor seating. The building offers up to 2,500 square feet and is available for ground sale or build-to-suit/lease. The property benefits from outstanding freeway exposure and building signage, with 84,000 Average Daily Traffic (ADT) on State Route 522 and 13,400 ADT on 120th Avenue NE. The parcel size is approximately 20,194 square feet and has site plan approval. Neighboring businesses include Home Depot, Starbucks, US Foods|Chef’s Store, and 24 Hour Fitness. The location benefits from over 600 existing multi-family units across 120th Avenue NE, with over 1,000 new multi-family units under construction within walking distance.
Key Highlights
- Approved drive‑thru for QSR or coffee kiosk use.
- Outstanding freeway exposure and building signage with high traffic counts (84,000 ADT on SR522).
- Large parcel (approximately 20,194 SF) with site plan approval.
Local Financial Insights For Specialty 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 | $54.9k | $21.96 |
| − Vacancy | −$3.0k | −$1.21 |
| EGI | $51.9k | $20.75 |
| − OpEx | −$13.0k | −$5.19 |
| NOI | $38.9k | $15.56 |
2,500 SF · lease $21.96/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$555.9K
$486.4K – $648.5K
NOI $38,910 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$503.3K
$440.4K – $587.2K
NOI $35,230 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$697.2K
$610.1K – $813.4K
NOI $48,804 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drive through restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Single-story retail building with approved drive-thru, excellent freeway exposure.
Where is this drive through restaurant located?
The property is located at 18007 120th Ave NE Bothell, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approved drive‑thru for QSR or coffee kiosk use.; **Outstanding freeway exposure and building signage** with high traffic counts (84,000 ADT on SR522).; Large parcel (approximately 20,194 SF) with site plan approval.
