Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lynnwood Office Building For Sale Title is generated by Realmo AI

    21300 68th Ave W Lynnwood, Lynnwood, WA 98036

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,125,000

    Two-story office building in Lynnwood, WA, with recent upgrades.

    Type:Commercial
    Property size:
    7,380 SF
    Price / SF:
    $287/SF
    Added:
    Sep 29, 2025
    Days on Market:
    230
    Last Refresh:
    Apr 5 at 8:38 pm

    Property Features for 21300 68th Ave W Lynnwood

    General Information

    Standard status
    Active
    Size
    7,380 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    C.J. EBERT

    Listing agent C.J. EBERT

    Listing office HARBOR MOUNTAIN

    Listing date Sep 29, 2025

    Source Corcoran

    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 HARBOR MOUNTAIN

    HighLights

    • Vacant 1st floor offers immediate occupancy or redevelopment opportunity.
    • Newer roof and HVAC systems minimize near‑term capital expenditures.
    • Recently painted with full parking lot seal coat and stripe enhances curb appeal.
    • Existing tenant on the second floor provides immediate income.
    • Built in 1988.
    • Call LA for details

    Overview

    This two-story office building, constructed in 1988, features a newer roof and HVAC system. The property has been recently painted and includes a parking lot with a full seal coat and striping. The building has a total size of 7,380 square feet. The first floor is currently vacant, while the second floor is occupied by an existing tenant. The property is located in Lynnwood, Washington.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.46M
    NOI $131,448 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.88M
    NOI $131,448 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.63M
    NOI $131,448 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $201.9k $27.36
    − Vacancy −$26.7k −$3.61
    EGI $175.3k $23.75
    − OpEx −$43.8k −$5.94
    NOI $131.4k $17.81
    7,380 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $1.88M
    $1.64M – $2.19M (±1% cap)
    NOI $131,448 @ 7.0% cap · market cap 6.19%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.06M
    $1.80M – $2.40M (±1% cap)
    NOI $144,071 @ 7.0% cap · market cap 6.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Escape routes Arcade & Gaming Center Square One Recovery Crisis Center Entangled Escape Rooms ... Arcade & Gaming Center Pacific Art Press ... Painting Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.325
    Latitude
    47.8059

    Nearby Similar for Sale

    • $699,000
      1,050 SF

      Mukilteo Speedway Flex Opportunity

      Versatile 1,050 SF building suitable for industrial, office, or retail.
      12223 Mukilteo Speedway, Lynnwood, WA 98087
      View Details
    • $3,000,000
      15,976 SF

      Lynnwood Value-Add Opportunity

      15,976 SF building near Lynnwood Light Rail Station.
      4720 200th St SW, Lynnwood, WA 98036
      View Details
    • $2,500,000
      10,614 SF

      Adaptable Commercial Property Near I-5

      10,614 SF commercial property suitable for various business purposes.
      19420 21st Ave W Lynnwood, WA 98036
      View Details
    • $26
      2,604 SF

      Office Suites Available for Lease

      Office suites available in Edmonds/Lynnwood submarket.
      3405 188th Street SW, Lynnwood, WA 98037
      View Details
    • $1,950,000
      4,904 SF

      Lynnwood Office Building Near Mall

      Office building in a business district near Alderwood Mall.
      18927 33rd Ave W, Lynnwood, WA 98036
      View Details
    • $1,900,000
      6,466 SF

      Lynnwood Office Building For Sale

      Fully leased office building in Lynnwood with recent renovations.
      19910 50th Ave W, Lynnwood, WA 98036
      View Details
    • $26
      27,388 SF

      Office Suites in Edmonds/Lynnwood Submarket

      Office suites available for lease in Edmonds/Lynnwood submarket.
      3405 188th Street SW, Lynnwood, WA 98037
      View Details
    • $6,516,000

      Freestanding Restaurant Pad Near Mall

      Freestanding, remodeled restaurant pad with a 15-year lease.
      3321 184th St SW, Lynnwood, WA 98037
      View Details
    • $2,295,000
      8,400 SF

      Lynnwood Retail Center For Sale

      Three-tenant retail center with high visibility and traffic.
      6812 196th St SW, Lynnwood, WA 98036
      View Details
    • $3,000,000
      1,500 SF

      Turnkey Office Space Available

      Office space near transit and I-5, ready for occupancy.
      200th St SW 4720, Lynnwood, WA
      View Details
    • $1,050,000

      Duplex on Oversized Lot

      Fully rented duplex with expansion potential near Martha Lake.
      15215 Larch Way, Lynnwood, WA 98087
      View Details
    • $4,100,000
      28,738 SF

      Lynnwood Industrial Buildings For Sale

      Two industrial buildings totaling 28,738 SF on 1.54 acres.
      20215-20217 Cedar Valley Rd, Lynnwood, WA
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building in Lynnwood, WA, with recent upgrades.
    Where is this office building located?
    The property is located at 21300 68th Ave W Lynnwood Lynnwood, WA.
    What is the asking price?
    The asking price for this property is $2,125,000.
    What are key features of this property?
    This property features: Vacant 1st floor offers immediate occupancy or redevelopment opportunity.; Newer roof and HVAC systems minimize near‑term capital expenditures.; Recently painted with full parking lot seal coat and stripe enhances curb appeal.
    We can help!
    Listing Contact
    C.J. EBERT
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21300 68th Ave W, Lynnwood, Lynnwood, WA 98036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!