Lynnwood Office Building For
21300 68th Ave W Lynnwood, WA 98036
For Sale
$2,125,000
Pending
Two-story office building in Lynnwood, WA, with recent upgrades.
Property Size7,380 SF
Days on Market303
Property Features for 21300 68th Ave W
General Information
Standard status
Pending
Size
7,380 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
HARBOR MOUNTAIN
(425) 210-7209
Listed By:
C.J. EBERT
Source:
Corcoran
Added: Sep 29, 2025
Changed: Jul 6
Last Checked: Jul 23 at 8:04AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights For Office B
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 | $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 Uses
Best Use
Office B
$1.88M
$1.64M – $2.19M
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
NOI $144,071 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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, 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.
