20505 Highway 99Lynnwood, WA 98036

Property Details for 20505 Highway 99

Year built

1990

Construction

WOOD

Lot size

2.19 AC

Property size (Sq ft)

7,066 SF

Zone code

L6

Property type

Retail properties

Property subtype

Other automotive properties

APN

564100000605

APU

564100000605

Description

This exceptional value-add investment opportunity encompasses two buildings totaling 25,259 square feet on a 2.19-acre lot in Lynnwood, WA (98036). Located at 20505 & 20515 Hwy 99, the property features a diverse mix of retail and industrial space, currently 40% occupied by month-to-month tenants. The main building, originally a Lexus and Mercedes dealership, boasts 16,152 square feet across three stories, including showroom, offices, service bays, and a basement with roll-up doors. The second building, a former carpet store, offers 9,107 square feet across two floors, featuring storefront space, a grade-level roll-up door, a dock-high loading bay, and a basement with roll-up doors for storage. The property includes 171 parking spaces and benefits from General Commercial - Hwy 99 Mixed Use zoning. Built in 1978 and 1990, this property presents a significant opportunity for an investor seeking to increase occupancy and rental income. The asking price is $6,650,000 ($263.27/sq ft). Additional information is available at www.highway99site.com.

• CAP approach

  CAP return

  Valuation

  6%

  $2,801,741

  6.5%

  $2,586,222

  7%

  $2,401,492

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,412,646

  Geo Method

  $3,429,141

• Alternative Use

  Use

  Valuation

  Residential

  $2,181,575

  Hospitality

  $1,998,311

  Educational

  $1,662,572

  Medical

  $1,719,750

  Retail

  $2,586,222

Location Insight

City

Lynnwood

County

Snohomish

State

Washington

Latitude

47.8126

Longitude

-122.321

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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