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    19020 33Rd Ave Lynnwood, WA 98036

    Sponsored
    For Lease
    $17 SF/Yr

    Executive office space for lease in Snohomish County.

    Lot size:
    44,897 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Redstone Corporate Center One offers exceptional executive office space for lease in Snohomish County. Currently, there are 40,298 square feet of vacant space available, perfect for businesses seeking flexible and modern office solutions. The available suites range in size from a comfortable 2,264 square feet to a substantial 9,693 square feet, providing options to accommodate various business needs and team sizes. This multi-tenant building presents a prime opportunity for companies looking to establish or expand their presence in a thriving business environment. The property is classified as an Executive Office building, suggesting high-quality finishes and amenities. The exact building size is not currently specified, but the significant amount of vacant space indicates a substantial building footprint. This location in Snohomish County offers easy access to key transportation routes and amenities, making it an attractive option for employees and clients alike. Interested parties are encouraged to inquire about lease terms and specific suite availability to find the perfect fit for their business requirements. The available space presents a unique opportunity to secure prime office space in a desirable location.

    Property Features for 19020 33Rd Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    44,897 SF

    Unit(s) available at that property

    Space
    Bldg 1- 110
    Size
    8,348 SF
    Rate per SF
    $26
    Space
    Suite 420
    Size
    5,568 SF
    Rate per SF
    $26
    Space
    Bldg 1- 250
    Size
    5,203 SF
    Rate per SF
    $26
    Space
    Suite 365
    Size
    9,693 SF
    Rate per SF
    $26
    Space
    Bldg 1- 480
    Size
    2,264 SF
    Rate per SF
    $26
    Space
    Suite 230
    Size
    4,128 SF
    Rate per SF
    $17
    Space
    Suite 365
    Size
    9,693 SF

    HighLights

    • Executive office space available for lease in Snohomish County.
    • Multiple tenancies available.
    • 40,298 square feet of vacant space.
    • Suite sizes range from 2,264 to 9,693 square feet.
    • Located in Redstone Corporate Center One.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shawna Talley Loan ... Mortgage Lender Aecon Pacific Northwest General Contractor Atlas Mortgage Inc ... Mortgage Lender Eddie Huynh | Movement ... Mortgage Lender Kathrin L. Ahl, ... Radiologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.27769609105
    Latitude
    47.825655324876

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    FAQs

    What type of property is this?
    Office Property / Space - Executive office space for lease in Snohomish County.
    Where is this office property / space located?
    The property is located at 19020 33Rd Ave Lynnwood, WA.
    What is the lease rate?
    The lease rate is $0.00-$26 SF/Yr.
    What are key features of this property?
    This property features: Executive office space available for lease in Snohomish County.; Multiple tenancies available.; 40,298 square feet of vacant space.
    Request Owner's contact information
    19020 33Rd Ave Lynnwood, WA 98036
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    Lynnwood, WA 98036
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    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.

    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
    19020 33Rd Ave Lynnwood, WA 98036
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