Half-Finished Office
9816 20th St SE Lake Stevens, WA 98258
9816 20th St SE, Lake Stevens, WA, 98258
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For Sale
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Half-finished office conversion with kitchenette, offices, a conference room, and recent electrical, paint, flooring, and HVAC upgrades.
Property Size1,976 SF
Price / SF$316.30
Days on Market85
Property Features for 9816 20th St SE
General Information
- Standard status
- Active
- Size
- 1,976 SF
- Property subtype
- LAND
Listing agency
First Western Properties, Inc.
(425) 320-8834
Listed by
Tej Asher · License #20111567
(425) 320-8834
Source
Moodyscre
Added: Apr 29 Updated: Jul 21 at 5:17AM Checked: Jul 22 at 3:59AM
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 First Western Properties, Inc.
Investment Insights
Based on property information with market context.
This half-finished office conversion is ready for completion and is supported by recent capital improvements, including electrical updates, new paint, flooring, and HVAC. The current buildout includes a kitchenette, multiple offices, and a conference room.
The property is located within the city’s southern commercial corridor and is positioned along 20th St SE, highlighted for benefiting from high daily traffic counts on that roadway.
Offered for its transition to commercial use, the configuration is suited to professional or service-oriented development where dedicated office and meeting space are needed.
The property is located within the city’s southern commercial corridor and is positioned along 20th St SE, highlighted for benefiting from high daily traffic counts on that roadway.
Offered for its transition to commercial use, the configuration is suited to professional or service-oriented development where dedicated office and meeting space are needed.
Key Highlights
- Half‑finished office conversion with kitchenette, offices, and a conference room
- Recent capital improvements include electrical, paint, flooring, and HVAC
- Located on 20th St SE, benefiting from high daily traffic counts
Local Financial Insights For Office B
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 | $54.1k | $27.36 |
| − Vacancy | −$7.1k | −$3.61 |
| EGI | $46.9k | $23.75 |
| − OpEx | −$11.7k | −$5.94 |
| NOI | $35.2k | $17.81 |
1,976 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$502.8K
$439.9K – $586.6K
NOI $35,195 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$551.1K
$482.2K – $642.9K
NOI $38,575 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Half-finished office conversion with kitchenette, offices, a conference room, and recent electrical, paint, flooring, and HVAC upgrades.
Where is this office building located?
The property is located at 9816 20th St SE Lake Stevens, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Half‑finished office conversion with kitchenette, offices, and a conference room; Recent capital improvements include electrical, paint, flooring, and HVAC; Located on 20th St SE, benefiting from high daily traffic counts
