Manufacturing Property with Heavy
For Sale
Contact for pricing
20404-20405 69th Ave NE, Arlington, WA 98223
General Industrial zoning, a fenced yard, and loading space support the facility’s industrial configuration.
Property Size12,888 SF
Lot Size2.19 Acres
Price / SF$228.90
Days on Market113
Property Features for 20404-20405 69th Ave NE
General Information
Standard status
Active
Size
12,888 SF
Lot size
2.19 Acres
Property subtype
INDUSTRIAL
Zoning
General Industrial (GI)
Warehouse & Industrial
Clear Height
20 ft
Clear Span
Yes
Office Build-Out
1,888 SF
Drive-In Doors
7
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Asking Price
$2,950,000
Fenced Yard
Yes
Building Details
Year Built
1978
Year Renovated
1991
Building Size
12,888 SF
Listing Agency:
NAI Puget Sound Properties
(425) 652-1722
Listed By:
Blake Stedman · License #WA2495
(425) 652-1722
Source:
Moodyscre
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 9:39PM
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.
The property comprises 12,888 SF of manufacturing and warehouse improvements, including 1,888 SF of office area. The buildings feature a 20-foot clear height, clear-span construction, seven grade-level doors, three overhead cranes, and 3-phase heavy power. Four heated MAU units with dual exhaust vent stacks support the facility’s production-oriented infrastructure. Improvements date to 1978 / 1991, and the site includes a fenced lot and yard with parking and loading areas.
The 2.19-acre property is located 2 miles from Arlington Airport (AWO). General Industrial (GI) zoning and the combination of production, office, loading, and yard components define the asset’s industrial profile.
The 2.19-acre property is located 2 miles from Arlington Airport (AWO). General Industrial (GI) zoning and the combination of production, office, loading, and yard components define the asset’s industrial profile.
Key Highlights
- 12,888 SF total building area on 2.19 acres
- 1,888 SF of office area within the improvements
- 20’ clear height with clear‑span structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$162,950
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,259,000
$3.3M
Cap Rate 7%
$2,327,857
$2.3M
Cap Rate 9%
$1,810,556
$1.8M
Market Conditions
NOI Build-Up for 12,888 SF
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.
Gross rent
$205.7K $15.96/SF
− Vacancy
−$14.0K −$1.09/SF
EGI
$191.7K $14.87/SF
− OpEx
−$28.8K −$2.23/SF
NOI
$162.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,259,000
Cap Rate 7%
$2,327,857
Cap Rate 9%
$1,810,556
Alternative Uses
Best Use
Warehouse
$2.33M
$2.04M – $2.72M
NOI $162,950 @ 7.0% cap · market cap 5.52%
Second Best
Industrial
$1.79M
$1.56M – $2.09M
NOI $125,175 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$3.59M
$3.14M – $4.19M
NOI $251,597 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
7
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - General Industrial zoning, a fenced yard, and loading space support the facility’s industrial configuration.
Where is this manufacturing property located?
The property is located at 20404-20405 69th Ave NE Arlington, WA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 12,888 SF total building area on 2.19 acres; 1,888 SF of office area within the improvements; 20’ clear height with clear‑span structure
