Flex Industrial
21300 68th Ave W Lynnwood, WA 98036
For Sale
Contact for pricing
Vacant flex/industrial building built in 1988 with updated roof and HVAC, plus recently renovated exterior finishes.
Property Size7,380 SF
Price / SF$287.94
Days on Market301
Property Features for 21300 68th Ave W
General Information
Standard status
Active
Size
7,380 SF
Property subtype
FLEX_R_AND_D
Listing Agency:
Harbor Mountain
(425) 210-7209
Listed By:
C.J. Ebert
(425) 210-7209
Source:
Moodyscre
Added: Oct 1, 2025
Changed: Jul 23
Last Checked: Jul 23 at 5:31PM
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 flex/industrial building was constructed in 1988 and is currently vacant. Improvements include a newer roof and newer HVAC. The property has also been recently painted, with the parking lot receiving full seal coat and striping.
The property is listed for sale. For additional details and to confirm access for showings, contact the listing agent.
With its flex industrial configuration and updated building systems, the space is positioned for a range of practical warehouse or light industrial uses, subject to applicable approvals.
The property is listed for sale. For additional details and to confirm access for showings, contact the listing agent.
With its flex industrial configuration and updated building systems, the space is positioned for a range of practical warehouse or light industrial uses, subject to applicable approvals.
Key Highlights
- Vacant flex/industrial building constructed in 1988
- Newer roof and updated HVAC
- Recently painted interior and exterior finishes
Financial Insights For Flex RnD
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 | $139.9k | $18.96 |
| − Vacancy | −$11.9k | −$1.61 |
| EGI | $128.0k | $17.35 |
| − OpEx | −$44.8k | −$6.07 |
| NOI | $83.2k | $11.28 |
7,380 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,220 @ 7.0% cap · market cap 3.92%
Second Best
Industrial
$1.02M
$896.0K – $1.19M
NOI $71,678 @ 7.0% cap · market cap 3.37%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Vacant flex/industrial building built in 1988 with updated roof and HVAC, plus recently renovated exterior finishes.
Where is this flex space 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 flex/industrial building constructed in 1988; Newer roof and updated HVAC; Recently painted interior and exterior finishes
