Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    649 5Th St Mukilteo, WA 98275

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $700 /Mo ($29 SF/Yr)

    Office space with views, parking, and convenient location.

    Property size:
    282 SF
    Lot size:
    282 SF

    Property Features for 649 5Th St

    General Information

    Standard status
    Active
    Size
    282 SF

    Building Details

    Year built
    2001

    We can help!

    Listing Contact
    Brandon Olson
    Source: Corcoran

    Listing Agency: WINDERMERE COMMERCIAL/NW Listing Agent: Brandon Olson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Office Space in Mukilteo

    This office space is located above Johns Grill, near a busy intersection with high traffic. The property includes a shared outdoor patio that offers views of Puget Sound. Ample parking is available. The property is located on a corner in Old Town Mukilteo, providing walking access to the Puget Sound waterfront, Mukilteo Lighthouse Park, community centers, and the ferry terminal. The space is 282 square feet.
    Location Intelligence

    Current Use by Public Records

    Catrina Shaw-Sherman Real ... Real Estate Agency Express Air Inc Corporate Office Fred Baxter & Associates Architect Micki A Hazen, CPA ... Accounting Firm Nurturing Health Massage, ... Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mukilteo
    County
    Snohomish
    State
    Washington
    Longitude
    -122.30317
    Latitude
    47.944529

    Nearby Similar for Lease

    • $20 SF/Yr
      1,428 SF

      Retail Space in Mukilteo, WA

      Retail space available for lease in Mukilteo, Washington.
      13024 Beverly Park Rd, Mukilteo, WA 98275
      View Details
    • $7,000 /Mo
      3,057 SF

      Turn-Key Office Building Near Boeing

      Stand-alone office building with modern design near Paine Field.
      8425 44Th Ave W, Mukilteo, WA 98275
      View Details
    • $1.35 SF/Yr
      5,685 SF

      Mukilteo Flex Space Available

      Flex space with warehouse and office components available for lease.
      12521 Evergreen Dr, Mukilteo, WA 98275
      View Details
    • $754 /Mo
      238 SF

      Single-Room Office in Mukilteo

      Single-room office available for rent in a professional setting.
      12221 Village Center Pl, Mukilteo, WA 98275
      View Details
    • $1,458 /Mo
      486 SF

      Office Space Available For Rent

      Office space featuring two offices and an open reception area.
      12221 Village Center Pl, Mukilteo, WA 98275
      View Details
    • $2,940 /Mo
      1,260 SF

      Retail Space on Mukilteo Speedway

      Prime retail location near Boeing and Paine Field.
      10100 Mukilteo Speedway, Mukilteo, WA 98275
      View Details
    • $7,675 /Mo
      5,685 SF

      Mukilteo Flex Space Available

      5,685 SF flex space with office and warehouse.
      12521 Evergreen Dr, Mukilteo, WA 98275
      View Details
    • $1,527 /Mo
      509 SF

      Salon Ready Space For Rent

      Salon-ready space featuring two rooms with sinks available for rent.
      12221 Village Center Pl, Mukilteo, WA 98275
      View Details
    • $1,905 /Mo
      635 SF

      Storefront Office Space For Rent

      Small storefront office space in a high visibility commercial district.
      12221 Village Center Pl, Mukilteo, WA 98275
      View Details
    • $7,001 /Mo
      3,057 SF

      Paine Field Executive Office Building

      Stand-alone Mukilteo office building near Paine Field and Boeing.
      8425 44Th Ave W, Mukilteo, WA 98275
      View Details
    • $2,860 /Mo
      1,596 SF

      Mukilteo Office Space Available

      Office space for rent in Mukilteo, Washington.
      8423 Mukilteo Speedway, Mukilteo, WA 98275
      View Details
    • Contact for pricing
      2,069 SF

      Mukilteo Office Space For Rent

      Flexible 2,069 SF office space available for rent.
      8227 44Th Ave W, Mukilteo, WA 98275
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with views, parking, and convenient location.
    Where is this office units located?
    The property is located at 649 5Th St Mukilteo, WA.
    What is the lease rate?
    The lease rate is $29 SF/Yr.
    What are key features of this property?
    This property features: - Breathtaking Puget Sound views from a shared outdoor patio.; - Prime corner location in the historic heart of Old Town Mukilteo.; - High-traffic location near a busy intersection.
    Request Owner's contact information
    649 5Th St Mukilteo, WA 98275
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    649 5Th St
    Mukilteo, WA 98275
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    649 5Th St Mukilteo, WA 98275
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brandon Olson
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!