Retail Property Near Highway
5116 196th St SW, Lynnwood, WA 98036
For Sale
$3,200,000
Pending
Retail property with value-add opportunity near Lynnwood Light Rail.
Property Size18,670 SF
Days on Market593
Property Features for 5116 196th St SW
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
NAI PUGET SOUND PROPERTIES
Listed By:
BLAKE STEDMAN · License #WA2495
(425) 652-1722
Source:
Corcoran
Added: Mar 26, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:42AM
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 NAI PUGET SOUND PROPERTIES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property is situated between Highway 99 and I-5, located off 196th Street SW. The property benefits from excellent visibility and proximity to Lynnwood Light Rail. It features tenants in place with a low vacancy rate, presenting a value-add opportunity at below-market rates. The property provides a parking ratio of 3 per 1,000. It consists of 10 units and has a size of 18670 square feet.
Key Highlights
- Excellent visibility and proximity to Lynnwood Light Rail
- Value‑add opportunity at below‑market rates
- Tenants in place with low vacancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,095
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,261,900
$5.3M
Cap Rate 7%
$3,758,500
$3.8M
Cap Rate 9%
$2,923,278
$2.9M
Market Conditions
NOI Build-Up for 18,670 SF
Gross rent
$403.3K $21.60/SF
− Vacancy
−$27.4K −$1.47/SF
EGI
$375.8K $20.13/SF
− OpEx
−$112.8K −$6.04/SF
NOI
$263.1K $14.09/SF
Area
Snohomish County, WA
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,261,900
Cap Rate 7%
$3,758,500
Cap Rate 9%
$2,923,278
Alternative Uses
Best Use
Retail
$3.76M
$3.29M – $4.38M
NOI $263,095 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.21M
$4.56M – $6.07M
NOI $364,472 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,185
Businesses Nearby
463k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Shops & Services 31%
Superstores 16%
Dining 14%
Fred Meyer
Groceries
105,243 visits/mo
0.4 miles
Costco Wholesale
Superstores
75,248 visits/mo
0.4 miles
Trader Joe's
Groceries
60,800 visits/mo
0.5 miles
Costco Gasoline
Shops & Services
35,554 visits/mo
0.4 miles
Jo-Ann Fabric and Craft
Shops & Services
34,374 visits/mo
0.4 miles
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 Retail in West region
Similar Off Market Nearby
- Lynnwood Crossroads — 6218 196th St SW, Lynnwood, WA 98036
- Lynnwood Center — 19701 Hwy 99, Lynnwood, WA 98036
- Lynnwood Square — 19800 44th Ave W, Lynnwood, WA 98036
- Islamic Center Faizan-e-Madinah — 4202 198th St SW #2, Lynnwood, WA 98036
- James Village — 19520 Hwy 99 #103, Lynnwood, WA 98036
Frequently Asked Questions
What type of property is this?
Shopping center - Retail property with value-add opportunity near Lynnwood Light Rail.
Where is this shopping center located?
The property is located at 5116 196th St SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Excellent visibility and proximity to Lynnwood Light Rail; Value‑add opportunity at below‑market rates; Tenants in place with low vacancy
