Retail Property in Growing
7705 204th St NE Arlington, WA 98223
For Sale
$2,225,000
Pending
Well-maintained retail property with long-term tenants in a growing area.
Property Size8,450 SF
Days on Market183
Property Features for 7705 204th St NE
General Information
- Standard status
- Pending
- Size
- 8,450 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1998
Listing Agency:
RE/MAX NORTHWEST REALTORS
(206) 595-6708
Listed By:
BARBARA PREMO
Source:
Corcoran
Added: Jan 22
Changed: Jul 6
Last Checked: Jul 23 at 7:16AM
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 RE/MAX NORTHWEST REALTORS
Investment Insights
Based on property information with market context.
This commercial retail property offers 8,450 square feet of space and features long-term tenants. The building has been recently updated with a new roof, upgraded air-conditioning, and kitchen improvements. Ample parking is available. The property is located in a rapidly growing area with numerous new apartment developments nearby, and downtown is just minutes away.
Key Highlights
- High visibility in a rapidly growing area.
- Turnkey investment with long‑term tenants.
- Recent upgrades: new roof, upgraded A/C, and kitchen improvements.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.5k | $21.60 |
| − Vacancy | −$12.4k | −$1.47 |
| EGI | $170.1k | $20.13 |
| − OpEx | −$51.0k | −$6.04 |
| NOI | $119.1k | $14.09 |
8,450 SF · lease $21.60/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $119,076 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $164,959 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Well-maintained retail property with long-term tenants in a growing area.
Where is this retail space located?
The property is located at 7705 204th St NE Arlington, WA.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: High visibility in a rapidly growing area.; Turnkey investment with long‑term tenants.; Recent upgrades: **new roof, upgraded A/C, and kitchen improvements.**
