Highway Mixed-Use
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For Sale
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5710 196th Street SW, Lynnwood, WA 98036
Showroom property in Lynnwood’s Highway Mixed Use zoning district.
Property Size24,261 SF
Price / SF$342.11
Days on Market5
Property Features for 5710 196th Street SW
General Information
Standard status
Active
Size
24,261 SF
Total Parking Spaces
132
Property subtype
Retail
Zoning
Highway Mixed Use
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$578,196
Building Details
Year Built
1967
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
First Western Properties, Inc. Tacoma
(253) 472-0404
Listed By:
Justin Holmes · License #WA
Source:
Crexi
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:57AM
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 First Western Properties, Inc. Tacoma
Investment Insights
Based on property information with market context.
This showroom property is located at 5710 196th Street SW in Lynnwood, Washington. The asset is classified as a showroom and carries Highway Mixed Use zoning, supporting its commercial positioning along a designated mixed-use corridor.
Built in 1967, the property is associated with Krafter's Land Cabinetry, a cabinetry and home-improvement supplier founded in 2020 with multiple Washington locations. Its Lynnwood operation serves the North Puget Sound region.
Built in 1967, the property is associated with Krafter's Land Cabinetry, a cabinetry and home-improvement supplier founded in 2020 with multiple Washington locations. Its Lynnwood operation serves the North Puget Sound region.
Key Highlights
- Highway Mixed Use zoning
- Showroom classification
- Built in 1967
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$341,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,837,640
$6.8M
Cap Rate 7%
$4,884,029
$4.9M
Cap Rate 9%
$3,798,689
$3.8M
Market Conditions
NOI Build-Up for 24,261 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$524.0K $21.60/SF
− Vacancy
−$35.6K −$1.47/SF
EGI
$488.4K $20.13/SF
− OpEx
−$146.5K −$6.04/SF
NOI
$341.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,837,640
Cap Rate 7%
$4,884,029
Cap Rate 9%
$3,798,689
Alternative Uses
Best Use
Retail
$4.88M
$4.27M – $5.70M
NOI $341,882 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.77M
$5.92M – $7.89M
NOI $473,618 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
531k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 24%
Groceries 20%
Superstores 14%
Costco Wholesale
Superstores
75,248 visits/mo
0.3 miles
Trader Joe's
Groceries
60,800 visits/mo
0.2 miles
Safeway
Groceries
44,504 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
42,714 visits/mo
0.2 miles
Chick-fil-A
Dining
38,574 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jafar Co. — 20505 Hwy 99, Lynnwood, WA 98036
- Gemini Tile & Marble LLC — 20101 66th Pl W, Lynnwood, WA 98036
- Hanningtons Carpet Installs — 6623 196th St SW, Lynnwood, WA 98036
- Great Floors — 5501 196th Pl SW, Lynnwood, WA 98036
- NW Floor Coverings — 5116 196th St SW UNIT 201, Lynnwood, WA 98036
Frequently Asked Questions
What type of property is this?
Showroom - Showroom property in Lynnwood’s Highway Mixed Use zoning district.
Where is this showroom located?
The property is located at 5710 196th Street SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: Highway Mixed Use zoning; Showroom classification; Built in 1967
