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    18520 33rd W Ave Lynnwood, WA 98037-4726
    Property profile & analytics

    18520 33rd W Ave Lynnwood, WA 98037-4726

    View on Map
    • Retail space
    • 39,153 SF
    • 16.47 lot acres
    Off-Market
    Last Sale Jul 27, 2025
    $54,000,000
    Property ID
    US90-0833155
    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

    • SKECHERS Warehouse Outlet / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • Alderwood Plaza / Shopping Center & Mall
    • Ross Dress for Less / Women'S Clothing Store / Clothing Store
    • Amazon Locker - Token / Postal Service / Courier Service

    Property Details for 18520 33rd W Ave

    Year built
    1980
    Construction
    TYPE NOT SPECIFIED
    Lot size
    16.47 lot acres
    Property size
    39,153 SF
    Zone code
    PRC
    Property type
    Retail space
    APN
    27041500101000
    APU
    27041500101000

    Description

    Alderwood Plaza offers exceptional retail and restaurant opportunities in Snohomish County. This 175,387 square foot strip center boasts a prime location directly across from Alderwood Mall, a major 1.5 million square foot regional shopping destination, and a Loews 16-screen cinema. The property benefits from strong anchor tenants such as HomeGoods, Guitar Center, Big 5 Sporting Goods, Ross Dress for Less, and Albert Lee Appliance, ensuring high foot traffic and brand recognition. A robust restaurant presence is already established with Red Robin, Buffalo Wild Wings, and 85°C Bakery Cafe. Three suites are currently available, ranging from a minimum of 1,050 square feet to a maximum contiguous space of 22,255 square feet. The property sits on a 16.71-acre lot and offers excellent visibility and accessibility. The center draws customers from a wide area, serving over 140,000 households within a 5-mile radius, boasting an average household income exceeding $153,000. Currently, 24,670 square feet of space is vacant, presenting a unique opportunity for businesses seeking high-visibility locations in a thriving retail environment. This is an ideal location for businesses seeking to capitalize on the strong demographics and established retail presence of this premier shopping destination.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.279
    Latitude
    47.8303
    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
    $313,479
    $23,177,800
    $18,501,600
    $41,679,400
    -
    $23,177,800
    $18,501,600
    $41,679,400

    Comparable in this City

    • Value Estimation
      $1,565,000
      8,196 SF

      16410 Alderwood Mall Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 8,196 SF
      16410 Alderwood Mall Pkwy, Lynnwood, WA 98037
      View Details
    • Value Estimation
      $3,925,000
      37,000 SF

      18503 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 37,000 SF
      18503 Hwy 99, Lynnwood, WA 98037-4596
      View Details
    • Value Estimation
      $2,845,000
      17,834 SF

      5031 168th SW St

      RETAIL STORES (PERSONAL SERVICES) • 17,834 SF
      5031 168th SW St, Lynnwood, WA 98037-5717
      View Details
    • Value Estimation
      $6,160,000
      39,146 SF

      3333 184th SW St

      RETAIL STORES (PERSONAL SERVICES) • 39,146 SF
      3333 184th SW St, Lynnwood, WA 98037-4724
      View Details
    • Value Estimation
      $5,040,000
      32,920 SF

      18205 Alderwood Mall Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 32,920 SF
      18205 Alderwood Mall Pkwy, Lynnwood, WA 98037-3913
      View Details
    • Value Estimation
      $3,335,000
      30,846 SF

      16929 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 30,846 SF
      16929 Hwy 99, Lynnwood, WA 98037-3102
      View Details

    Similar Nearby for Sale

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      Freestanding Restaurant Pad Near Mall

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      Lynnwood Commercial Property For Sale

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      Lynnwood Mobile Home Park Opportunity

      Well-maintained mobile home park with income potential in Lynnwood, WA.
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      Office Suites Available for Lease

      Office suites available in Edmonds/Lynnwood submarket.
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      Office Suites in Edmonds/Lynnwood Submarket

      Office suites available for lease in Edmonds/Lynnwood submarket.
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      Land For Sale Lynnwood

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    Similar Nearby for Lease

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      2,763 SF

      Highway 99 Retail/Office Endcap

      Renovated retail/office space with high exposure and flexible layout.
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      Retail Space in Lynnwood

      Retail space available for lease in Lynnwood, Washington.
      18505 Alderwood Mall Pkwy, Lynnwood, WA 98037
      View Details
    • $43,000
      2,150 SF

      Retail Space Available For Rent

      Retail space available for rent, possible combination with adjacent space.
      17925 Highway 99, Lynnwood, WA 98037
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    • $6,620 /Mo
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      Lynnwood Commercial Space Available

      Commercial space available for rent in Lynnwood, Washington.
      3405 188Th St SW, Lynnwood, WA 98037
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      Lynnwood Office Suites For Lease

      Furnished and unfurnished office suites available in Lynnwood.
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    • Contact for pricing

      Lynnwood Office Spaces Available

      Office spaces available for rent in Lynnwood, Washington.
      3400-3500 188Th St SW, Lynnwood, WA 98037
      View Details
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    Lynnwood, WA 98037-4726
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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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    18520 33rd W Ave, Lynnwood, WA, 98037
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