Kenmore Stand Alone Retail
For Sale
Contact for pricing
Pending
8020 NE Bothell Way, Kenmore, WA 98028
Stand-alone building with ample parking, suitable for retail or redevelopment.
Property Size4,840 SF
Lot Size0.66 Acres
Days on Market189
Property Features for 8020 NE Bothell Way
General Information
Standard status
Pending
Size
4,840 SF
Lot size
0.66 Acres
Property subtype
Retail
Investment Type
Owner/User
Listing Agency:
West Coast Commercial Realty
(206) 450-4953
Listed By:
Jonathan Willett · License #131599
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Jul 24 at 6:46AM
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 West Coast Commercial Realty
Investment Insights
Based on property information with market context.
This stand-alone building is located on NE Bothell Way, situated on the north side of State Route 522 between Kenmore and Bothell. The property, with a building size of 4,840 SF and a lot size of 28,572 SF, has been the site of Bothell Ski and Bike for over 15 years. It features approximately 35 parking stalls. Zoned UC (Urban Corridor), the property is suitable for a single or multi-tenant retail repositioning. It is also potentially suitable for a daycare/school, restaurant, cannabis business, or other uses.
Key Highlights
- Prime location on NE Bothell Way (SR 522) between Kenmore and Bothell.
- Stand‑alone building with ample parking (~35 stalls).
- Versatile UC (Urban Corridor) zoning allows for various uses.
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
$86,581
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
3.46%
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%
$1,731,620
$1.7M
Cap Rate 7%
$1,236,871
$1.2M
Cap Rate 9%
$962,011
$962.0K
Market Conditions
NOI Build-Up for 4,840 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
$127.8K $26.40/SF
− Vacancy
−$4.1K −$0.84/SF
EGI
$123.7K $25.56/SF
− OpEx
−$37.1K −$7.67/SF
NOI
$86.6K $17.89/SF
Area
King County, WA
Vacancy
3.20%
Lease Rate
$26.40 /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%
$1,731,620
Cap Rate 7%
$1,236,871
Cap Rate 9%
$962,011
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,581 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,698 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
41k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Groceries 27%
Dollar Tree
Shops & Services
13,818 visits/mo
0.2 miles
Grocery Outlet Bargain Market
Groceries
11,096 visits/mo
0.2 miles
Chevron
Shops & Services
8,544 visits/mo
0.0 miles
Shell
Shops & Services
3,808 visits/mo
0.2 miles
KeyBank
Shops & Services
3,231 visits/mo
0.2 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Stand-alone building with ample parking, suitable for retail or redevelopment.
Where is this storefront property located?
The property is located at 8020 NE Bothell Way Kenmore, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime location on NE Bothell Way (SR 522) between Kenmore and Bothell.; Stand‑alone building with ample parking (~35 stalls).; Versatile UC (Urban Corridor) zoning allows for various uses.
