Storefront Building with Lake
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6233 NE Bothell Way, Bothell, WA 98028
Commercial-zoned storefront offering street and freeway access in Bothell.
Property Size3,360 SF
Price / SF$297.62
Days on Market7
Property Features for 6233 NE Bothell Way
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Retail
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
territorial views of Lake Washington
overlooks Kenmore Air
Building Details
Tenancy
Single
Listing Agency:
CCM Commercial
Listed By:
Cal Mitchell · License #WA
Source:
Crexi
Added: Aug 29
Changed: Sep 3
Last Checked: Sep 3 at 2:29AM
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 CCM Commercial
Investment Insights
Based on property information with market context.
This commercial storefront property is located at 6233 NE Bothell Way in Bothell, Washington. The building contains 3,360 square feet and is designated Commercial under the stated zoning classification.
The property has views toward Lake Washington and overlooks Kenmore Air. Street access and freeway connectivity support convenient arrival from the surrounding area.
The property has views toward Lake Washington and overlooks Kenmore Air. Street access and freeway connectivity support convenient arrival from the surrounding area.
Key Highlights
- 3,360‑square‑foot storefront property
- Commercial zoning
- Views toward Lake Washington
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
$47,349
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
4.73%
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%
$946,980
$947.0K
Cap Rate 7%
$676,414
$676.4K
Cap Rate 9%
$526,100
$526.1K
Market Conditions
NOI Build-Up for 3,360 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
$72.6K $21.60/SF
− Vacancy
−$4.9K −$1.47/SF
EGI
$67.6K $20.13/SF
− OpEx
−$20.3K −$6.04/SF
NOI
$47.3K $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%
$946,980
Cap Rate 7%
$676,414
Cap Rate 9%
$526,100
Alternative Uses
Best Use
Retail
$676.4K
$591.9K – $789.2K
NOI $47,349 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$937.0K
$819.9K – $1.09M
NOI $65,593 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 39%
Home Improvements & Furnishings 4%
Beauty & Spa 4%
Jack in the Box
Dining
11,601 visits/mo
0.1 miles
Pagliacci Pizza
Dining
3,992 visits/mo
0.3 miles
Jimmy John's
Dining
3,788 visits/mo
0.3 miles
Wells Fargo
Shops & Services
3,706 visits/mo
0.5 miles
Chase Bank
Shops & Services
3,621 visits/mo
0.4 miles
Demographics for 98028, WA
23,914
Population
9,362
Households
2.6
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,920
Density / Sq Mi
$137,926
Median Household Income
$72,090
Median Earnings
$1,944
Median Rent
$869,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial-zoned storefront offering street and freeway access in Bothell.
Where is this storefront property located?
The property is located at 6233 NE Bothell Way Bothell, WA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 3,360‑square‑foot storefront property; Commercial zoning; Views toward Lake Washington
