Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    710 228Th St Bothell, WA 98021

    • Land
    • 2.56 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 710 228Th St

    Lot size
    2.56 lot acres
    Property type
    Land

    Description

    This exceptional 2.65-acre commercial land assemblage in Bothell, Washington, presents a remarkable development opportunity. Located at the corner of 7th Ave SE and 228th St SE, with convenient access off 228th St at the I-405 interchange, this permit-ready site is zoned for Office Park use and ideally suited for a medical, dental, or life science facility. The property comprises three parcels (270531-002-006-00, 270531-002-065-00, and 270531-002-002-00), totaling 115,434 square feet (2.65 acres), connected by an easement. The site plan allows for a two-story building of approximately 38,000 square feet, with an under-building secured garage providing approximately 33 parking spaces, plus additional surface parking. The maximum building structure, including the parking garage, is approximately 55,229 square feet. Lot #1, the largest parcel, is ready for immediate development. This prime location offers excellent ingress and egress, and is situated just 10 minutes north of the University of Washington Bothell campus, ensuring high visibility and accessibility. The property's entitlements for Medical/Dental/Life Science development make it an attractive investment for developers seeking a strategic location in a thriving market. The address is 710 228th St SE, Bothell, WA 98021.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.224
    Latitude
    47.7913

    Comparable in this City

    • Value Estimation
      $4,935,000
      38,958 SF

      22631 Bothell Everett Hwy

      COMMERCIAL (GENERAL) • 38,958 SF
      22631 Bothell Everett Hwy, Bothell, WA 98021-8401
      View Details
    • Value Estimation by Request
      0.18 Acres

      Bothell, WA 98021

      INDUSTRIAL - VACANT LAND • 0.18 Acres
      Bothell, WA 98021
      View Details
    • Value Estimation by Request
      1.34 Acres

      23521 Bothell Everett Hwy

      INDUSTRIAL - VACANT LAND • 1,080 SF
      23521 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Value Estimation by Request
      2.05 Acres

      3301 Monte Villa Pkwy

      INDUSTRIAL - VACANT LAND • 2.05 Acres
      3301 Monte Villa Pkwy, Bothell, WA 98021-8941
      View Details
    • Value Estimation by Request
      0.29 Acres

      Bothell, WA 98021

      INDUSTRIAL - VACANT LAND • 0.29 Acres
      Bothell, WA 98021
      View Details
    • Value Estimation by Request
      5.35 Acres

      Bothell, WA 98021

      INDUSTRIAL - VACANT LAND • 5.35 Acres
      Bothell, WA 98021
      View Details

    Similar Nearby for Sale

    • $699,950

      Shy 2.5 Acre Development Site

      Apartment/condominium site near I-405 with flexible zoning.
      23004 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • $1,750,000
      33,541 SF

      Bothell Development Property For Sale

      32,671 SF development property with broad range of uses.
      507 240Th St SE, Bothell, WA 98021
      View Details
    • Contact for pricing

      Development Site in Canyon Park

      Permitted development site in Bothell's desirable Canyon Park location.
      22811 7Th Ave SE, Bothell, WA 98021
      View Details
    • Contact for pricing

      Bothell Land Parcel For Sale

      Mostly flat 0.75-acre lot within Bothell city limits.
      242 7Th Ave, Bothell, WA 98021
      View Details
    • Contact for pricing
      2 SF

      Shovel-Ready Medical Development Site

      Permitted medical development site in a high-traffic Bothell location.
      710 228Th St SE, Bothell, WA 98021
      View Details
    • $3,600,000
      7,913 SF

      Bothell Office and Warehouse Property

      Stand-alone office with warehouse and fenced yard in Bothell.
      810 240Th St SE, Bothell, WA 98021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      90,899 SF

      Lakeside Shopping Center Opportunity

      Prime Bothell retail space, high traffic location.
      24040 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      5,495 SF

      Bothell Turn-Key Office Space

      Turn-key office space available for rent in Bothell, Washington.
      3350 Monte Villa Pkwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      12,294 SF

      Bothell Office Space Available

      Office space available for rent in Bothell, Washington.
      21222 30Th Dr Southeast, Bothell, WA 98021
      View Details
    • Contact for pricing
      3,749 SF

      Bothell Retail Space For Rent

      Retail spaces available for lease in Bothell, Washington.
      24008-24131 Bothell Everett Hwy SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      2,716 SF

      Bothell Flex/Industrial Space Available

      Flex/Industrial space available for rent in Bothell, Washington.
      21720 23Rd Dr SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      2,517 SF

      Bothell Office Space For Rent

      Office space with freeway access and retail proximity in Bothell.
      22215 26Th Ave SE, Bothell, WA 98021
      View Details
    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.
    710 228Th St
    Bothell, WA 98021
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!