Building Details

Year Built 1978

Year Renovated 1991

Building Size 12,888 SF

Listing Agency: NAI Puget Sound Properties Show Phone

Listed By: Blake Stedman · License #WA2495 Show Phone

Source: Moodyscre

Added: May 12 Changed: Oct 10 Last Checked: Oct 16 at 11:03AM

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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.

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 / Yr

$162,950

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,259,000 $3.3M

Cap Rate 7%

$2,327,857 $2.3M

Cap Rate 9%

$1,810,556 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,888 SF

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 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 (±1% cap)

NOI $162,950 @ 7.0% cap · market cap 5.52%

Second Best

Industrial

$1.79M

$1.56M – $2.09M (±1% cap)

NOI $125,175 @ 7.0% cap · market cap 4.24%

Theoretical Best

Office A

$3.59M

$3.14M – $4.19M (±1% cap)

NOI $251,597 @ 7.0% cap · market cap 8.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Law Firm Parking Lot & Garage Restaurant Grocery & Convenience Store Auto Parts Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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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