Multi-Tenant Neighborhood Strip
For Sale
$2,250,000
6812 196th St SW, Lynnwood, WA 98036
Retail property with direct exposure along 196th Street SW and access to Interstate 5.
Property Size8,400 SF
Days on Market52
Property Features for 6812 196th St SW
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Retail
Zoning
CDM
Additional Details
Highway Access
Yes
Building Details
Building Size
8,400 SF
Year Built
1962
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Danforth
Listed By:
Gretchen Hamm · License #84913
(206) 972-1651
Source:
Cbcworldwide
Added: Sep 16
Changed: Nov 3
Last Checked: Nov 6 at 5:09AM
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
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Investment Insights
Based on property information with market context.
Built in 1962, this multi-tenant neighborhood retail property is classified for commercial development under CDM zoning. The strip mall format supports multiple storefront occupants within a single retail asset, with direct exposure along 196th Street SW.
The property is located in Lynnwood, Washington, on an east-west arterial serving local and regional traffic across South Snohomish County. Interstate 5 is readily accessible, with surrounding retail, residential, and employment areas contributing to the commercial context.
The property is located in Lynnwood, Washington, on an east-west arterial serving local and regional traffic across South Snohomish County. Interstate 5 is readily accessible, with surrounding retail, residential, and employment areas contributing to the commercial context.
Key Highlights
- Multi‑tenant neighborhood retail property
- Built in 1962
- CDM zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,371
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,367,420
$2.4M
Cap Rate 7%
$1,691,014
$1.7M
Cap Rate 9%
$1,315,233
$1.3M
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$181.4K $21.60/SF
− Vacancy
−$12.3K −$1.47/SF
EGI
$169.1K $20.13/SF
− OpEx
−$50.7K −$6.04/SF
NOI
$118.4K $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 Rate 5%
$2,367,420
Cap Rate 7%
$1,691,014
Cap Rate 9%
$1,315,233
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,371 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,983 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
136k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 51%
Dining 29%
Shops & Services 14%
Beauty & Spa 5%
Safeway
Groceries
44,504 visits/mo
0.5 miles
QFC
Groceries
25,625 visits/mo
0.4 miles
Starbucks
Dining
14,186 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,192 visits/mo
0.0 miles
MOD Pizza
Dining
5,179 visits/mo
0.5 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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Strip mall - Retail property with direct exposure along 196th Street SW and access to Interstate 5.
Where is this strip mall located?
The property is located at 6812 196th St SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Multi‑tenant neighborhood retail property; Built in 1962; CDM zoning
