Prime Commercial Property Near Lynnwood
For Sale
$11,000,000
5026 196th St SW, Lynnwood, WA 98036
3.14 acres near Lynnwood Link Extension, great for redevelopment.
Property Size28,560 SF
Price / SF$385.15
Days on Market590
Property Features for 5026 196th St SW
General Information
Standard status
Active
Size
28,560 SF
Building Details
Year Built
1977
Listing Agency:
RE/MAX NORTHWEST REALTORS
Listed By:
RICKY MOUW · License #80899
(425) 484-0865
Source:
Corcoran
Added: Feb 24, 2025
Changed: Mar 16
Last Checked: Oct 5 at 7:00PM
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 RE/MAX NORTHWEST REALTORS
Investment Insights
Based on property information with market context.
This 3.14-acre commercial property is located on 196th St SW in Lynnwood, near the Lynnwood Link Extension. Zoned for general commercial use, the property is suitable for retail, office, warehouse, and future redevelopment. The existing structure includes a large office/retail space, a full prep kitchen, a food distribution area with a walk-in freezer and cooler, drive-thru access, semi-loading and unloading capabilities, and 155 parking stalls. The Lynnwood Link Project, extending light rail from Northgate into Snohomish County, will serve four stations: Shoreline South/148th, Shoreline North/185th, Mountlake Terrace, and Lynnwood City Center. Upon its opening in 2024, the light rail will provide fast and frequent service between south Snohomish County, the University of Washington, downtown Seattle, and the Eastside.
Key Highlights
- Prime commercial property near the Lynnwood Link Extension.
- Zoned General Commercial, ideal for retail, office, warehouse, and future redevelopment.
- Large office/retail space featuring a full prep kitchen and food distribution area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$508,692
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,173,840
$10.2M
Cap Rate 7%
$7,267,029
$7.3M
Cap Rate 9%
$5,652,133
$5.7M
Market Conditions
NOI Build-Up for 28,560 SF
Gross rent
$781.4K $27.36/SF
− Vacancy
−$103.1K −$3.61/SF
EGI
$678.3K $23.75/SF
− OpEx
−$169.6K −$5.94/SF
NOI
$508.7K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,173,840
Cap Rate 7%
$7,267,029
Cap Rate 9%
$5,652,133
Alternative Uses
Best Use
Office B
$7.27M
$6.36M – $8.48M
NOI $508,692 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$5.75M
$5.03M – $6.71M
NOI $402,463 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$7.96M
$6.97M – $9.29M
NOI $557,542 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,345
Businesses Nearby
Explore this area
Business Placement
Demographics for 98036, WA
42,248
Population
17,228
Households
2.5
Avg Household Size
39
Median Age
39%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
4,401
Density / Sq Mi
$89,566
Median Household Income
$54,455
Median Earnings
$1,686
Median Rent
$693,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 3.14 acres near Lynnwood Link Extension, great for redevelopment.
Where is this commercial land located?
The property is located at 5026 196th St SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Prime commercial property near the Lynnwood Link Extension.; Zoned General Commercial, ideal for retail, office, warehouse, and future redevelopment.; Large office/retail space featuring a full prep kitchen and food distribution area.
