Industrial Property Near
For Sale
Contact for pricing
6015 180th St NE, Arlington, WA 98223
Eastside positioning near Arlington Airport supports regional access through Interstate 5 and State Route 530.
Property Size98,539 SF
Price / SF$235.95
Days on Market12
Property Features for 6015 180th St NE
General Information
Standard status
Active
Size
98,539 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Listing Agency:
Lee & Associates Commercial Real Estate Services
(425) 417-7983
Listed By:
Richard Peterson
(425) 260-4439
Source:
Moodyscre
Added: Jul 29
Changed: Aug 2
Last Checked: Aug 8 at 6:04AM
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
Investment Insights
Based on property information with market context.
The 98,539-square-foot industrial property is positioned on the east side of Arlington Airport in northern Snohomish County. Its address is 6015 180th St NE in Arlington, Washington, with the property situated at 59th Avenue NE and 180th Street NE.
Arlington is located near the Interstate 5 corridor and State Route 530, connecting the property with employment centers across Snohomish County and the Puget Sound region. The site is approximately 40 miles north of Seattle and falls within the greater Seattle–Tacoma–Bellevue metropolitan area.
Arlington is located near the Interstate 5 corridor and State Route 530, connecting the property with employment centers across Snohomish County and the Puget Sound region. The site is approximately 40 miles north of Seattle and falls within the greater Seattle–Tacoma–Bellevue metropolitan area.
Key Highlights
- 98,539‑square‑foot industrial property
- Located on the east side of Arlington Airport
- Situated at 59th Avenue NE and 180th Street NE
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
$1,245,879
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
5.36%
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%
$24,917,580
$24.9M
Cap Rate 7%
$17,798,271
$17.8M
Cap Rate 9%
$13,843,100
$13.8M
Market Conditions
NOI Build-Up for 98,539 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
$1.57M $15.96/SF
− Vacancy
−$106.9K −$1.09/SF
EGI
$1.47M $14.87/SF
− OpEx
−$219.9K −$2.23/SF
NOI
$1.25M $12.64/SF
Area
Snohomish County, WA
Vacancy
6.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
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%
$24,917,580
Cap Rate 7%
$17,798,271
Cap Rate 9%
$13,843,100
Alternative Uses
Best Use
Warehouse
$17.80M
$15.57M – $20.76M
NOI $1,245,879 @ 7.0% cap · market cap 5.36%
Second Best
Flex RnD
$15.87M
$13.89M – $18.52M
NOI $1,111,171 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$27.48M
$24.05M – $32.06M
NOI $1,923,658 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 98223, WA
45,139
Population
18,224
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
316.2 sq mi
ZIP Area
143
Density / Sq Mi
$96,478
Median Household Income
$52,487
Median Earnings
$1,780
Median Rent
$556,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Eastside positioning near Arlington Airport supports regional access through Interstate 5 and State Route 530.
Where is this industrial property located?
The property is located at 6015 180th St NE Arlington, WA.
What is the asking price?
The asking price for this property is $23,250,000.
What are key features of this property?
This property features: 98,539‑square‑foot industrial property; Located on the east side of Arlington Airport; Situated at 59th Avenue NE and 180th Street NE
