Lynnwood Industrial Buildings For
20215 - 20217 Cedar Valley Road Lynnwood WA USA, Lynnwood, WA 98036
Two industrial buildings totaling 28,738 RSF on 1.54 acres.
Type:Industrial
Property size:
28,738 SFLot size:
1.54 AcresPrice / SF:
$142/SF- Added:
- Dec 9, 2025
- Days on Market:
- 211
- Last Refresh:
- Jul 2 at 11:54 am
Property Features for 20215 - 20217 Cedar Valley Road Lynnwood WA USA
General Information
- Standard status
- Active
- Size
- 28,738 SF
- Lot size
- 1.54 Acres
- Property subtype
- Industrial
Listing date Dec 9, 2025
Source Crexi
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 Themio Pallis
HighLights
- Excellent Location: Well‑positioned between Interstate‑5 and Highway 99, providing quick access to major distribution routes.
- Near Light Rail: Less than 10‑minute walk to the recently completed Link Light Rail station via the Scriber Creek Trail.
- Functional Warehouse Space: Features clear‑span warehouse space, high ceilings, and 10 grade‑level doors (10‑14 feet).
- Size and Layout: Two buildings totaling 28,738 RSF on a 1.54‑acre parcel with ample parking and maneuverability.
- Value‑Add Opportunity: Existing tenant lease expiring in December 2025 with a one‑year option.
- Growth Area: Located in Lynnwood, which has experienced consistent industrial rent growth.
Overview
Located at 20215 & 20217 Cedar Valley Road in Lynnwood, WA, this industrial property features two buildings totaling 28,738 rentable square feet. Constructed in 1973, the buildings are situated on a 1.54-acre parcel that provides ample parking and maneuverability suitable for distribution purposes. The property features clear-span warehouse space, high ceilings, and ten grade-level doors ranging from 10 to 14 feet in height. Positioned between Interstate-5 and Highway 99, the location allows convenient access to major distribution routes. The Scriber Creek Trail provides access to the recently completed Link Light Rail station within a 10-minute walk. Currently, one tenant occupies just under 60% of the rentable building area with a lease extending through December 2025, and includes one 1-year option to extend. Lynnwood has experienced consistent industrial rent growth over the past decade and is undergoing multifamily and commercial development.
Local Financial Insights For Warehouse
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 | $458.7k | $15.96 |
| − Vacancy | −$31.2k | −$1.09 |
| EGI | $427.5k | $14.87 |
| − OpEx | −$64.1k | −$2.23 |
| NOI | $363.3k | $12.64 |
28,738 SF · lease $15.96/SF/yr · vacancy 6.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$5.19M
$4.54M – $6.06M
NOI $363,349 @ 7.0% cap · market cap 8.86%
Second Best
Industrial
$3.99M
$3.49M – $4.65M
NOI $279,118 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$8.01M
$7.01M – $9.35M
NOI $561,017 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
RYSGAL car repair ...
Auto Parts Store
Similar Places Nearby
- Leisure Time Boat & RV Storage — 20631 50th Ave W, Lynnwood, WA 98036
- Self-Storage at U-Haul — 19130 Hwy 99, Lynnwood, WA 98036
- Public Storage — 4600 196th St SW, Lynnwood, WA 98036
- Trojan Storage of Lynnwood — 19331 Hwy 99, Lynnwood, WA 98036
- Public Storage — 18926 Hwy 99, Lynnwood, WA 98036
Location Insight
- Map
- Local Demand
- City
- Lynnwood
- County
- Snohomish
- State
- Washington
- Longitude
- -122.3009066
- Latitude
- 47.8151813
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Two industrial buildings totaling 28,738 RSF on 1.54 acres.
Where is this warehouse located?
The property is located at 20215 - 20217 Cedar Valley Road Lynnwood WA USA Lynnwood, WA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Excellent Location: Well‑positioned between Interstate‑5 and Highway 99, providing quick access to major distribution routes.; Near Light Rail: Less than 10‑minute walk to the recently completed Link Light Rail station via the Scriber Creek Trail.; Functional Warehouse Space: Features clear‑span warehouse space, high ceilings, and 10 grade‑level doors (10‑14 feet).
