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    Lake Stevens Commercial Land Opportunity Title is generated by Realmo AI

    9023 Soper Hill Rd, Lake Stevens, WA 98258

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    Prime commercial land for sale in Lake Stevens, Washington.

    Type:Land
    Lot size:
    10.00 Acres
    Added:
    Oct 31, 2020
    Days on Market:
    2044
    Last Refresh:
    May 19 at 11:05 pm

    Property Features for 9023 Soper Hill Rd

    General Information

    Standard status
    Active
    Lot size
    10.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Wyk Parker

    Listing agent Wyk Parker License #WA 873009985

    Listing office NAI Puget Sound Properties

    Listing date Oct 31, 2020

    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 NAI Puget Sound Properties

    HighLights

    • Excellent location at the intersection of Highway 9 and Soper Hill Road, providing outstanding access to major arterials and convenient commutes to Everett, Seattle, and Bellevue.
    • High‑income trade area with average household incomes of approximately $103,970 within a 5‑mile radius.
    • Proximity to a transit center offering easy access to Seattle, the Eastside, and Everett.
    • Consists of 8 platted lots totaling +\/-10 acres (+\/-419,257 Sf of Land).
    • Located close to Frontier Village Commercial Retail District, Downtown Lake Stevens, schools, parks and other amenities.
    • Zoning is mostly CD Commercial District, with one lot zoned LB Local Business.

    Overview

    Located in Lake Stevens, Washington, Lake Stevens Landing is situated at the intersection of Highway 9 and Soper Hill Road. The site benefits from access to major roads, being adjacent to Highway 9 and a short distance from Highway 2, which connects to Interstate 5. A transit center located to the south of Lake Stevens Landing facilitates commutes to Seattle, the Eastside, and Everett. Access to the site is available via Soper Hill Road off of Highway 9, with planned enhancements to Soper Hill Road, including a roundabout. Soper Hill Road East leads to the north shore of Lake Stevens and Lundeen Park, and to the west to the city of Marysville. The site comprises 8 platted lots totaling approximately 10 acres (approximately 419,257 square feet of land). The zoning is primarily CD Commercial District, with Lot 7 zoned LB Local Business. Lake Stevens Landing is near the Frontier Village commercial retail district, downtown Lake Stevens, schools, parks, and other amenities. Downtown Lake Stevens is undergoing a major redevelopment plan to include more retail opportunities, businesses, community and conference centers, and road improvements. Lake Stevens has a strong retail trade area with retailers including Target, Safeway, Sports Authority, Staples, Walgreens, and Haggen.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Stevens
    County
    Snohomish
    State
    Washington
    Longitude
    -122.1087734
    Latitude
    48.0224042

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    FAQs

    What type of property is this?
    Commercial land - Prime commercial land for sale in Lake Stevens, Washington.
    Where is this commercial land located?
    The property is located at 9023 Soper Hill Rd Lake Stevens, WA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Excellent location at the intersection of Highway 9 and Soper Hill Road, providing outstanding access to major arterials and convenient commutes to Everett, Seattle, and Bellevue.; High‑income trade area with average household incomes of approximately $103,970 within a 5‑mile radius.; Proximity to a transit center offering easy access to Seattle, the Eastside, and Everett.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Wyk Parker
    Real Estate License ID: WA 873009985
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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.

    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
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    9023 Soper Hill Rd, Lake Stevens, WA 98258
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