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

    471 Admiral Way Edmonds, WA 98020

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    First floor office/retail space in shell condition near Edmonds waterfront.

    Type:OFFICE
    Property size:
    1,925 SF
    Lot size:
    4.25 Acres
    Added:
    Jul 29, 2025
    Days on Market:
    275
    Last Refresh:
    Apr 5 at 8:11 pm

    Property Features for 471 Admiral Way

    General Information

    Standard status
    Active
    Size
    1,925 SF
    Lot size
    4.25 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 471 Admiral Way Contact us

    We can help!

    Listing Contact
    Zane Shiras, SIOR, CCIM
    Zane Shiras, SIOR, CCIM

    Listing agent Zane Shiras, SIOR, CCIM

    Listing office Lee & Associates Commercial Real Estate Services

    Listing date Jul 29, 2025

    Source Moodyscre

    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 Lee & Associates Commercial Real Estate Services

    Overview

    Edmonds Waterfront Office/Retail Space

    This first-floor office/retail space is in shell condition and situated close to the Edmonds waterfront. The property benefits from excellent natural light and high ceilings. Constructed to a high standard, the space offers exposure on the main access route to waterfront restaurants, marinas, parks, and commercial businesses. The new construction provides a strong corporate image. The property size is 1925 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Port of Edmonds Marina Sasquatch Sportfishing Tour Operator

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.389
    Latitude
    47.8082

    Nearby Similar for Lease

    • $4,445/Mo

      Wellness Space Near Waterfront Park

      Collaborative wellness space with private offices near Edmonds waterfront.
      300 Admiral Way, Edmonds, WA 98020
      View Details
    • $900/Mo

      Open Commercial Office/Retail Space

      325 RSF space suitable for office, retail, or studio.
      23931 Hwy 99, Edmonds, WA 98026
      View Details
    • $1,800/Mo

      Open Commercial Office/Retail Space

      760 RSF space suitable for office, retail, or studio.
      23931 Hwy 99, Edmonds, WA 98026
      View Details
    • $14,805/Mo

      Edmonds Office and Medical Suites

      Office and medical suites available near downtown Edmonds and waterfront.
      110 James St, Edmonds, WA 98020
      View Details
    • $2,363/Mo

      Boutique Retail Space in Edmonds

      Rare 630 SF retail space in Edmonds Bowl.
      401 Main St, Edmonds, WA 98020
      View Details
    • $2,520/Mo

      Edmonds Retail Space For Rent

      Boutique 630 SF retail space in Edmonds Bowl.
      401 Main St, Edmonds, WA 98020
      View Details
    • $5,867/Mo

      Edmonds Retail Space on Highway

      Retail space with high visibility and adaptable sizing.
      22921 Hwy 99 N, Edmonds, WA 98026
      View Details
    • $29 SF/Yr

      Downtown Edmonds Standalone Office Building

      2,050 SF office space in the heart of Edmonds.
      146 3rd Ave S, Edmonds, WA 98020
      View Details
    • $5,040/Mo

      Downtown Edmonds Standalone Office Building

      2,050 SF office building with parking in downtown Edmonds.
      146 3rd Ave S, Edmonds, WA 98020
      View Details
    • $4,000/Mo

      Edmonds Office Space For Rent

      Office space featuring a reception area, private offices, and more.
      7631 212th St SW, Edmonds, WA 98026
      View Details
    • $4,813/Mo

      Edmonds Waterfront Office/Retail Space

      First floor office/retail space in shell condition near waterfront.
      471 Admiral Way, Edmonds, WA 98020
      View Details
    • $1,562/Mo

      Edmonds Medical Office Space Available

      Naturopathic clinic space for rent near Swedish Edmonds.
      7500 212th St SW, Edmonds, WA 98026
      View Details

    FAQs

    What type of property is this?
    Office units - First floor office/retail space in shell condition near Edmonds waterfront.
    Where is this office units located?
    The property is located at 471 Admiral Way Edmonds, WA.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Prime location near Edmonds waterfront with high exposure.; Class‑A, high‑quality new construction.; Excellent natural light and high ceilings.
    (425) 454-4242 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zane Shiras, SIOR, CCIM
    Zane Shiras, SIOR, CCIM
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!