Flex Space with Fenced
New
For Sale
Contact for pricing
6710 220th St SW, Mountlake Terrace, WA 98043
Office and warehouse areas provide a flexible commercial layout with a secured outdoor yard.
Property Size8,180 SF
Price / SF$414.38
Days on Market5
Property Features for 6710 220th St SW
General Information
Standard status
Active
Size
8,180 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Warehouse Space
1,800 SF
Office Build-Out
3,020 SF
Building Details
Buildings
1
Building Size
8,180 SF
Listing Agency:
Coldwell Banker Commercial Danforth
(206) 972-1651
Listed By:
Gretchen Hamm · License #84913
(206) 972-1651
Source:
Moodyscre
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 17 at 4:18AM
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 Coldwell Banker Commercial Danforth
Investment Insights
Based on property information with market context.
This flex-space property combines office and warehouse components with a fenced yard, creating a practical configuration for businesses that require both administrative and operational areas. The currently available portion includes 3,020 square feet of office space and 1,800 square feet of warehouse space.
The property is located along 220th St SW in Mountlake Terrace, between Hwy 99 and I-5. Left-in access provides a direct entry point from the roadway, while the fenced yard adds secured exterior space for business operations or storage.
The property is located along 220th St SW in Mountlake Terrace, between Hwy 99 and I-5. Left-in access provides a direct entry point from the roadway, while the fenced yard adds secured exterior space for business operations or storage.
Key Highlights
- 3,020 SF of office space currently available
- 1,800 SF warehouse area currently available
- Fenced yard included with the property
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
$85,495
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
4.30%
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%
$1,709,900
$1.7M
Cap Rate 7%
$1,221,357
$1.2M
Cap Rate 9%
$949,944
$949.9K
Market Conditions
NOI Build-Up for 4,800 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
$131.3K $27.36/SF
− Vacancy
−$17.3K −$3.61/SF
EGI
$114.0K $23.75/SF
− OpEx
−$28.5K −$5.94/SF
NOI
$85.5K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
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%
$1,709,900
Cap Rate 7%
$1,221,357
Cap Rate 9%
$949,944
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.42M
NOI $85,495 @ 7.0% cap · market cap 4.30%
Second Best
Warehouse
$867.0K
$758.6K – $1.01M
NOI $60,689 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,705 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,152
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98043, WA
21,285
Population
9,493
Households
2.2
Avg Household Size
39
Median Age
42%
College-Educated
94%
High-School Grad
4.1 sq mi
ZIP Area
5,191
Density / Sq Mi
$101,408
Median Household Income
$59,982
Median Earnings
$1,966
Median Rent
$605,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas provide a flexible commercial layout with a secured outdoor yard.
Where is this flex space located?
The property is located at 6710 220th St SW Mountlake Terrace, WA.
What is the asking price?
The asking price for this property is $1,989,000.
What are key features of this property?
This property features: 3,020 SF of office space currently available; 1,800 SF warehouse area currently available; Fenced yard included with the property
