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    15701 Highway 99 Lynnwood, WA 98087
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    Property profile & analytics

    15701 Highway 99, Lynnwood, WA 98087

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    • Office buildings
    • 5,215 SF
    • 0.23 lot acres
    For Sale
    $1,290,000
    View Listing →
    Lynnwood Flex Space For Sale For Sale
    $1,290,000
    5,215 SF

    Lynnwood Flex Space For Sale

    Flex space building with office and industrial features available for purchase.

    15701 Hwy 99, Lynnwood, WA 98087
    View Listing
    Property ID
    US90-1385845
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • John's Auto Glass Unlimited / Auto Repair Shop / (Bike/Boat/Book/etc) Store

    Property Details for 15701 Highway 99

    Year built
    1956
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.23 lot acres
    Zone code
    UC
    Property type
    Office buildings
    APN
    372900201809
    APU
    372900201809

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,650,000
      6.5%
      $1,525,000
      7%
      $1,415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,196,000
      Market price range: $1.20M - $2.84M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,785,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,155,000
      Change: +21% Conversion: Easy
      MEDICAL BUILDING
      $2,035,000
      Change: +14% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,580,000
      Change: -11% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,505,000
      Change: -16% Conversion: Difficult
      RETAIL STORES
      $1,465,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.288
    Latitude
    47.8567
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,357
    $440,200
    $169,400
    $609,600
    -
    $440,200
    $169,400
    $609,600

    Comparable in this City

    • Value Estimation
      $6,180,000
      29,729 SF

      16108 Ash Way

      PROFESSIONAL BUILDING
      16108 Ash Way, Lynnwood, WA 98087-8779
      View Details
    • Value Estimation
      $3,990,000
      24,798 SF

      2122 164th SW St

      PROFESSIONAL BUILDING
      2122 164th SW St, Lynnwood, WA 98087-7811
      View Details
    • Value Estimation
      $5,445,000
      28,198 SF

      1133 164th SW St

      PROFESSIONAL BUILDING
      1133 164th SW St, Lynnwood, WA 98087-9318
      View Details
    • Value Estimation by Request
      1,152 SF

      15331 Hwy 99

      PROFESSIONAL BUILDING
      15331 Hwy 99, Lynnwood, WA 98087-2337
      View Details
    • Value Estimation
      $1,345,000
      6,842 SF

      3405 121st SW St

      PROFESSIONAL BUILDING
      3405 121st SW St, Lynnwood, WA 98087-1549
      View Details
    • Value Estimation
      $1,885,000
      7,628 SF

      15332 Hwy 99

      PROFESSIONAL BUILDING
      15332 Hwy 99, Lynnwood, WA 98087-2347
      View Details

    Similar Nearby for Sale

    • $699,000

      Mukilteo Speedway Flex Opportunity

      Versatile 1,050 SF building suitable for industrial, office, or retail.
      12223 Mukilteo Speedway, Lynnwood, WA 98087
      View Details
    • Contact for pricing
      17,816 SF

      Lynnwood Office Space Available

      Office space available for rent in Lynnwood, Washington.
      13906 Highway 99, Lynnwood, WA 98087
      View Details
    • Contact for pricing
      35,200 SF

      Lynnwood Office Space Available

      35,200 square feet of office space for lease.
      16201 25Th Ave West, Lynnwood, WA 98087
      View Details
    • $150,000

      Profitable Lynnwood Business Opportunity

      Established Food Business - Turnkey Operation
      11124 Bo Undisclosed, Lynnwood, WA 98087
      View Details
    • Contact for pricing

      Prime Commercial Lot in Lynnwood

      1.94-acre commercial lot with excellent exposure and accessibility.
      164th 164Th St SW, Lynnwood, WA 98087
      View Details
    • Contact for pricing

      High-Visibility Industrial Land for Sale

      30,000 SF land with high visibility and easy access.
      13603 Lake Rd, Lynnwood, WA 98087
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,683 SF

      Class A Office Building

      Professional office building with premier location and ample parking.
      1133 164Th St SW, Lynnwood, WA 98087
      View Details
    • $17 SF/Yr
      4,055 SF

      Two-Story Office Building For Rent

      Two-story office building with excellent access to I-5 and I-405.
      2122 164Th St Southwest, Lynnwood, WA 98087
      View Details
    • $4,472 /Mo
      2,683 SF

      Lynnwood Office Space Available

      Office space available for lease in Lynnwood, Washington.
      1133 164Th St SW, Lynnwood, WA 98087
      View Details
    • $1,875 /Mo
      900 SF

      Retail Space in Grocery-Anchored Center

      900 SF retail space with great visibility in Lynnwood.
      12926 Mukilteo Speedway, Lynnwood, WA 98087
      View Details
    • Contact for pricing

      Highway 99 Commercial Space

      Office, showroom, and warehouse space with excellent visibility.
      15615 Highway 99, Lynnwood, WA 98087
      View Details
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    Lynnwood, WA 98087
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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.

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