Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23505 56Th Ave W Mountlake Terrace, WA 98043

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Small retail space available for rent in Mountlake Terrace.

    Property Features for 23505 56Th Ave W

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Jeff Ayers
    Jeff Ayers
    Source: Crexi

    Listing Agency: Ayers Commercial Group Listing Agent: Jeff Ayers

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space in Mixed-Use Building

    A small retail space is available for rent within a new mixed-use building. The space will be delivered in gray shell condition.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mountlake Terrace
    County
    Snohomish
    State
    Washington
    Longitude
    -122.3077424
    Latitude
    47.7851245

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Redstone Corporate Center

      Discover many ways to work your way in Redstone Corporate Center
      6100 219Th St, Mountlake Terrace, WA 98043
      View Details
    • $2,201 /Mo
      2,201 SF

      Mountlake Terrace Office Space Available

      Office space for rent near I-5 and Highway 99.
      6912 220Th St SW, Mountlake Terrace, WA 98043
      View Details
    • $2,776 /Mo
      2,776 SF

      Mountlake Terrace Office Space Available

      Office space for rent with convenient highway access and parking.
      6912 220Th St SW, Mountlake Terrace, WA 98043
      View Details
    • $7,307 /Mo
      3,309 SF

      Class A Office Space Available

      High-quality office space with recent upgrades and ample parking.
      6100 219Th St SW, Mountlake Terrace, WA 98043
      View Details
    • $17,859 /Mo
      11,906 SF

      Former Ace Hardware Retail Space

      Retail space available, formerly Ace Hardware, totaling 11,908 SF.
      22803 44Th Ave W, Mountlake Terrace, WA 98043
      View Details
    • $3,045 /Mo
      1,044 SF

      Restaurant with Drive-Up and Patio

      Restaurant space with drive-up window and patio available for lease.
      22803 44Th Ave W, Mountlake Terrace, WA 98043
      View Details
    • $3,938 /Mo
      1,390 SF

      Retail Space Available For Rent

      1,390 SF retail space available, former GameStop location.
      22803 44Th Ave W, Mountlake Terrace, WA 98043
      View Details
    • $3,200 /Mo
      1,200 SF

      Mountlake Terrace Retail Space Available

      1,200 SF retail space available for rent.
      22803 44Th Ave W, Mountlake Terrace, WA 98043
      View Details
    • Contact for pricing

      Mountlake Terrace Professional Office Spaces

      Class B medical, dental, and professional office spaces for lease.
      6405 218Th St SW, Mountlake Terrace, WA 98043
      View Details
    • $12,685 /Mo
      6,089 SF

      Former Fitness Space Available

      6,089 SF end cap space, formerly a fitness center.
      22803 44Th Ave W, Mountlake Terrace, WA 98043
      View Details
    • $12 SF/Yr
      2,776 SF

      Mountlake Terrace Office Space Available

      Three-story office building with recent upgrades and ample parking.
      6912 220Th St SW, Mountlake Terrace, WA 98043
      View Details
    • Contact for pricing
      673 SF

      Retail Space in Mountlake Terrace

      New mixed-use development with retail space and ample parking.
      23505 56Th Ave W, Mountlake Terrace, WA 98043
      View Details

    FAQs

    What type of property is this?
    Retail space - Small retail space available for rent in Mountlake Terrace.
    Where is this retail space located?
    The property is located at 23505 56Th Ave W Mountlake Terrace, WA.
    What are key features of this property?
    This property features: - Rare retail space opportunity; - Located in a new mixed-use building; - Small retail space
    (206) 600-9294
    Request Owner's contact information
    23505 56Th Ave W Mountlake Terrace, WA 98043
    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.
    23505 56Th Ave W
    Mountlake Terrace, WA 98043
    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
    23505 56Th Ave W Mountlake Terrace, WA 98043
    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

    We can help!
    Listing Contact
    Jeff Ayers
    Jeff Ayers
    Real Estate License ID: 105705
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!