Smokey Point Multi-Use
18824 Smokey Point Boulevard Arlington, WA 98223
18824 Smokey Point Boulevard, Arlington, WA, 98223
$3,895,000
For Sale
$3,895,000
17,000 SF multi-use space in busy Smokey Point area.
Property Size17,000 SF
Lot Size0.39 Acres
Price / SF$229.12
Days on Market276
Property Features for 18824 Smokey Point Boulevard
General Information
- Standard status
- Active
- Size
- 17,000 SF
- Lot size
- 0.39 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing Agency
KW EVERETT
(425) 212-2007
Listed by
KRIS CANTRELL
Source
Corcoran
Added: Oct 17, 2025 Checked: Jul 19 at 4:45 am
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 KW EVERETT
Investment Insights
Based on property information with market context.
This 17,000 square foot multi-use space is located in the Smokey Point area, accessible from the 172nd Street exit. The property includes four tax parcels with 14,000 square feet on the main floor and a 3,000 square foot custom floating concrete second floor. It features three 16-foot roll-up doors, five bathrooms, and two main rooms with 25-foot ceilings. The property also includes multiple offices, a sprinkler system, and five heat pumps. The location is near Amazon, Costco, Target, Lowe's, and Arlington Airport.
Key Highlights
- 17,000 sq ft multi‑use space
- Prime location in Smokey Point with easy access off 172nd Street
- Ample parking
Local Financial Insights For Office B
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 | $465.1k | $27.36 |
| − Vacancy | −$61.4k | −$3.61 |
| EGI | $403.7k | $23.75 |
| − OpEx | −$100.9k | −$5.94 |
| NOI | $302.8k | $17.81 |
17,000 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.33M
$3.78M – $5.05M
NOI $302,793 @ 7.0% cap · market cap 7.77%
Second Best
Warehouse
$3.07M
$2.69M – $3.58M
NOI $214,940 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$4.74M
$4.15M – $5.53M
NOI $331,870 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 17,000 SF multi-use space in busy Smokey Point area.
Where is this flex space located?
The property is located at 18824 Smokey Point Boulevard Arlington, WA.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: 17,000 sq ft multi‑use space; Prime location in Smokey Point with easy access off 172nd Street; Ample parking
