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    Established Canyon Park Business Park Title is generated by Realmo AI

    22011-22215 26th Ave SE and 2525 223Rd St SE, Bothell, WA 98021

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    For Lease
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    Multi-tenant business park in Bothell's Canyon Park.

    Type:Office, Industrial
    Lot size:
    17.00 Acres
    Added:
    Jan 14, 2026
    Days on Market:
    118
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 22011-22215 26th Ave SE and 2525 223Rd St SE

    General Information

    Standard status
    Active
    Lot size
    17.00 Acres
    Property subtype
    Office, Industrial

    Spaces For Lease

    at 22011-22215 26th Ave SE and 2525 223Rd St SE Contact us

    We can help!

    Listing Contact
    Jim Reed

    Listing agent Jim Reed License #WA

    Listing office Cushman & Wakefield Seattle

    Listing date Jan 14, 2026

    Source Crexi

    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 Cushman & Wakefield Seattle

    HighLights

    • Well‑established multi‑tenant business park in a desirable Canyon Park campus setting.
    • Variety of flex, research and development, and office space to accommodate multiple operational needs.
    • Convenient access to public transportation.
    • Healthy parking ratio.
    • Substantial power capacity.
    • Maintained at institutional property levels.

    Overview

    Canyon Park East is a well-established multi-tenant business park consisting of five buildings. Situated on nearly 17 acres within an attractive campus setting in Bothell, Washington, the property includes both one and two-story structures. The buildings offer a variety of flex, research and development, and office spaces, accommodating multiple options and operational needs. The property features a healthy parking ratio, substantial power capacity, and convenient access to public transportation. Maintained at institutional property levels, the Canyon Park neighborhood is an essential part of Bothell’s economic core and a hub for the region's most influential companies. Canyon Park totals 300 acres and is comprised of 68 buildings, making it the largest business park in the City of Bothell.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Spa & Massage Center Auto Repair Shop Hotel & Motel Gym & Fitness Center Skin Care Clinic Bed & Breakfast Acupuncture

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

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -121.9498959
    Latitude
    47.7940158

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-tenant business park in Bothell's Canyon Park.
    Where is this mixed-use property located?
    The property is located at 22011-22215 26th Ave SE and 2525 223Rd St SE Bothell, WA.
    What are key features of this property?
    This property features: Well‑established multi‑tenant business park in a desirable Canyon Park campus setting.; Variety of flex, research and development, and office space to accommodate multiple operational needs.; Convenient access to public transportation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jim Reed
    Real Estate License ID: WA
    Learn More
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    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
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    22011-22215 26th Ave SE and 2525 223Rd St SE, Bothell, WA 98021
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