Multi-Use Flex
For Sale
$3,600,000
18824 Smokey Point Boulevard, Arlington, WA 98223
Multi-use flex building with three 16' roll-up doors, offices, sprinkler system, and a floating concrete second floor.
Property Size17,000 SF
Price / SF$211.76
Days on Market93
Property Features for 18824 Smokey Point Boulevard
General Information
Standard status
Active
Size
17,000 SF
Warehouse & Industrial
Clear Height
25 ft
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2008
Stories
2
Listing Agency:
KW Everett
Listed By:
Kris Cantrell
(425) 212-2007
Source:
Lincolnpnwteam
Added: Jul 24
Changed: Oct 10
Last Checked: Oct 7 at 3:41PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
For sale is a 17,000-square-foot multi-use flex warehouse designed with substantial warehouse and office components. The building includes 4 tax parcels, with approximately 14,000 square feet on the main level and an additional 3,000 square feet featuring a custom floating concrete second floor. Operational features include three 16' roll-up doors, a sprinkler system, and five heat pumps. The layout also provides five bathrooms, two main rooms with 25' ceilings, and numerous office spaces for day-to-day administrative support.
Located at 18824 Smokey Point Blvd in Arlington, WA, the property is described as being in the busy Smokey Point area off the 172nd street exit, with easy in-and-out access and tons of parking. Nearby employers and retail anchors mentioned in the remarks include Amazon, Costco, Target, and Lowes, along with Arlington Airport.
This is a versatile setup for users seeking both overhead warehouse space and dedicated office area within the same facility configuration.
Located at 18824 Smokey Point Blvd in Arlington, WA, the property is described as being in the busy Smokey Point area off the 172nd street exit, with easy in-and-out access and tons of parking. Nearby employers and retail anchors mentioned in the remarks include Amazon, Costco, Target, and Lowes, along with Arlington Airport.
This is a versatile setup for users seeking both overhead warehouse space and dedicated office area within the same facility configuration.
Key Highlights
- 17,000 sq ft multi‑use flex building in the busy Smokey Point area off the 172nd St exit
- Includes 4 tax parcels with 14,000 sq ft on the main level and a 3,000 sq ft custom floating concrete 2nd floor
- Three 16' roll‑up doors for flexible loading and access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$302,793
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,055,860
$6.1M
Cap Rate 7%
$4,325,614
$4.3M
Cap Rate 9%
$3,364,367
$3.4M
Market Conditions
NOI Build-Up for 17,000 SF
Gross rent
$465.1K $27.36/SF
− Vacancy
−$61.4K −$3.61/SF
EGI
$403.7K $23.75/SF
− OpEx
−$100.9K −$5.94/SF
NOI
$302.8K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,055,860
Cap Rate 7%
$4,325,614
Cap Rate 9%
$3,364,367
Alternative Uses
Best Use
Office B
$4.33M
$3.78M – $5.05M
NOI $302,793 @ 7.0% cap · market cap 8.41%
Second Best
Warehouse
$3.07M
$2.69M – $3.58M
NOI $214,940 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$4.74M
$4.15M – $5.53M
NOI $331,870 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
25 ft
Clear height
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98223, WA
45,139
Population
18,224
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
316.2 sq mi
ZIP Area
143
Density / Sq Mi
$96,478
Median Household Income
$52,487
Median Earnings
$1,780
Median Rent
$556,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Flex space - Multi-use flex building with three 16' roll-up doors, offices, sprinkler system, and a floating concrete second floor.
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 $3,600,000.
What are key features of this property?
This property features: 17,000 sq ft multi‑use flex building in the busy Smokey Point area off the 172nd St exit; Includes 4 tax parcels with 14,000 sq ft on the main level and a 3,000 sq ft custom floating concrete 2nd floor; Three 16' roll‑up doors for flexible loading and access
