Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Warehouse/Office Building Near I-5/I-405 Title is generated by Realmo AI

    2027-2031 196th Street SW, Lynnwood, WA 98036

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Warehouse/office building with ample parking and convenient freeway access.

    Type:Retail, Office, Industrial
    Added:
    Feb 21, 2022
    Days on Market:
    1562
    Last Refresh:
    May 12 at 9:02 pm

    Property Features for 2027-2031 196th Street SW

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Industrial

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 2027-2031 196th Street SW Contact us

    Suite R-1 $28/Mo

    Size
    1,708 SF
    Type
    Retail, Office
    High visibility retail space. Former dental office with abundant parking. Available...
    show more
    Contact us

    We can help!

    Listing Contact
    Caleb Farnworth, CCIM

    Listing agent Caleb Farnworth, CCIM License #WA 94397

    Listing office Rosen Harbottle Commercial Real Estate

    Listing date Feb 21, 2022

    Source Crexi

    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 Rosen Harbottle Commercial Real Estate

    HighLights

    • Convenient location near I‑5 & I‑405
    • Ample parking
    • 22’ clear height
    • GL and DH rollup doors
    • Clear span warehouse
    • Warehouse/office building

    Overview

    This warehouse and office building is located near I-5 and I-405, offering convenient access. The property features ample parking. The warehouse component includes a 22-foot clear height, ground-level and dock-high roll-up doors, and a clear span layout. NNN expenses do not include trash, water/sewer, gas, or electricity.
    Location Intelligence

    Current Use by Public Records

    Lynnwood East Business ... Business Park

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Similar Places Nearby

    • Juicy Jun's Barbeque and Catering Express — 2516 200th Pl SW, Lynnwood, WA 98036
    • Gangnam — 19505 44th Ave W, Lynnwood, WA 98036
    • Chef Dane Catering — 19515 44th Ave W #A, Lynnwood, WA 98036

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2610062
    Latitude
    47.8211874

    Nearby Similar for Lease

    • $26 SF/Yr
      3,982 SF

      Prime Showroom/Retail/Office Space Available

      Showroom/retail/office space with high visibility and ample parking.
      18009 Hwy 99, Lynnwood, WA 98037
      View Details
    • $3,117/Mo
      1,700 SF

      Versatile Retail Space in Lynnwood

      High-traffic location with 13' ceilings, suitable for diverse businesses.
      6812 196th St SW, Lynnwood, WA 98036
      View Details
    • $9,792/Mo
      4,700 SF

      Move-in Ready Dental Office Space

      Well-equipped dental office in prime Lynnwood location, ready for lease.
      6101 200th St SW, Lynnwood, WA 98036
      View Details
    • $3,733/Mo
      1,600 SF

      Recently Renovated Office Space

      1,600 SF office space available for lease.
      5116 196th St SW, Lynnwood, WA 98036
      View Details
    • $2,700/Mo
      1,792 SF

      Lynnwood Office Suites For Lease

      Furnished and unfurnished office suites available in Lynnwood.
      17414 Hwy 99, Lynnwood, WA 98037
      View Details
    • $2,376/Mo
      891 SF

      Lynnwood Flex Space Available

      Flex space featuring office and warehouse components in Lynnwood, Washington.
      19109 36th Ave W, Lynnwood, WA 98036
      View Details
    • $6,016/Mo
      3,041 SF

      Lynnwood Flex Space Available

      Flex space in Lynnwood with office and warehouse components.
      19109 36th Ave W, Lynnwood, WA 98036
      View Details
    • $2,110/Mo
      1,266 SF

      Move-in Ready Office Suite

      First floor office suite near transit and Alderwood Mall.
      4211 Alderwood Mall Blvd, Lynnwood, WA 98036
      View Details
    • $3,434/Mo
      1,873 SF

      Move-in Ready Office Space Available

      Professionally configured office space near Lynnwood light rail station.
      4720 200th St SW, Lynnwood, WA 98036
      View Details
    • $5,642/Mo
      2,604 SF

      Lynnwood Office Space Available

      Lease-ready office space with modern finishes near Alderwood Mall.
      3405 188th St SW, Lynnwood, WA 98037
      View Details
    • $1,300/Mo
      780 SF

      Office Space Near Edmonds College

      Office spaces available in mixed-use building next to Edmonds College.
      19921 68th Ave W, Lynnwood, WA 98036
      View Details
    • $11,333/Mo
      8,000 SF

      Warehouse with Office and Showroom

      Colony Park warehouse space with office, showroom, and roll-up doors.
      19019 36th Ave W, Lynnwood, WA 98036
      View Details

    FAQs

    What type of property is this?
    Flex space - Warehouse/office building with ample parking and convenient freeway access.
    Where is this flex space located?
    The property is located at 2027-2031 196th Street SW Lynnwood, WA.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Convenient location near I‑5 & I‑405; Ample parking; 22’ clear height
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Caleb Farnworth, CCIM
    Real Estate License ID: WA 94397
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2027-2031 196th Street SW, Lynnwood, WA 98036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!