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    19221 36Th Ave W Lynnwood, WA 98036
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    Property profile & analytics

    19221 36Th Ave W, Lynnwood, WA 98036

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    • Office buildings
    • 22,991 SF
    • 1.16 lot acres
    For Lease
    $2,975/Mo
    View Listing →
    Open Office Space Available For Lease
    $2,975/Mo
    635 SF

    Open Office Space Available

    Second-floor open office space available for rent.

    19221 36th Ave W, Lynnwood, WA 98036
    View Listing
    Property ID
    US90-1176881
    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

    • Judy Gratton | Edge Group Team | eXp Realty / Real Estate Agency
    • Kathleen M. Matkoski, PHD / Physician / Medical Clinic
    • Longevity Medical Clinic / Medical Clinic
    • Hands for Living / Physician
    • Kari Ketner / Physician

    Property Details for 19221 36Th Ave W

    Year built
    1987
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.16 lot acres
    Zone code
    L4
    Property type
    Office buildings
    APN
    372600200601
    APU
    372600200601

    Description

    Alderwood Business Campus, located at 19221 36th Ave W, Lynnwood, WA 98036, offers a prime opportunity for businesses seeking flexible office space in a thriving location. This two-story, six-building campus has recently undergone common area upgrades, ensuring a modern and professional environment. Five suites are currently available, ranging in size from 635 square feet to 5,758 square feet, catering to various business needs and scales. The campus boasts abundant parking, a significant advantage in a busy area. Its strategic location provides excellent access to major transportation arteries, including I-5 and I-405 freeways, minimizing commute times. Furthermore, the property is conveniently situated near the Lynnwood Transit Center and the new Link Light rail Station, offering multiple commuting options. The surrounding area is rich with amenities, including a variety of restaurants, financial institutions, the Lynnwood Convention Center, and the Alderwood Shopping Mall, providing employees with convenient access to services and leisure activities. Below-market sublease rates are currently available, with the option to execute a direct lease with the landlord. This presents a unique opportunity to secure high-quality office space at a competitive price point in a desirable location.

    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
    -122.281
    Latitude
    47.8242
    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
    $36,637
    $1,745,100
    $3,077,000
    $4,822,100
    -
    $1,745,100
    $3,077,000
    $4,822,100

    Comparable in this City

    • Value Estimation
      $1,745,000
      6,650 SF

      4201 198th SW St

      PROFESSIONAL BUILDING
      4201 198th SW St, Lynnwood, WA 98036-6751
      View Details
    • Value Estimation
      $13,730,000
      59,200 SF

      20818 44th W Ave

      PROFESSIONAL BUILDING
      20818 44th W Ave, Lynnwood, WA 98036-7709
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    • Value Estimation by Request
      12,232 SF

      19400 33rd W Ave

      PROFESSIONAL BUILDING
      19400 33rd W Ave, Lynnwood, WA 98036-4794
      View Details
    • Value Estimation
      $2,200,000
      11,600 SF

      18911 33rd W Ave

      PROFESSIONAL BUILDING
      18911 33rd W Ave, Lynnwood, WA 98036
      View Details
    • Value Estimation
      $790,000
      1,628 SF

      19201 40th W Ave

      PROFESSIONAL BUILDING
      19201 40th W Ave, Lynnwood, WA 98036-5607
      View Details
    • Value Estimation
      $2,120,000
      5,162 SF

      19815 44th W Ave

      PROFESSIONAL BUILDING
      19815 44th W Ave, Lynnwood, WA 98036-6707
      View Details

    Similar Nearby for Sale

    • $1,950,000

      Lynnwood Office Building Near Mall

      Office building in a business district near Alderwood Mall.
      18927 33Rd Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      9,530 SF

      Lake View Office Building

      9,530 SF office building with lake view for sale.
      20102 Cedar Valley Rd, Lynnwood, WA 98036
      View Details
    • $1,900,000
      6,466 SF

      Lynnwood Office Building For Sale

      Fully leased office building in Lynnwood with recent renovations.
      19910 50Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      17,832 SF

      Lynnwood Multi-Tenant Office Building

      Multi-tenant office building in Lynnwood with upside potential.
      19730 64Th Ave W, Lynnwood, WA 98036
      View Details
    • $3,000,000
      15,976 SF

      Lynnwood Value-Add Opportunity

      15,976 SF building near Lynnwood Light Rail Station.
      4720 200Th St SW, Lynnwood, WA 98036
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Classic Brick Office Building

      Multi-tenant office building in Lynnwood with upside potential.
      19730 64Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing

      Corporate Office and Medical Facility

      High-image office/medical facility with access to I-5 and I-405.
      19401 40Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing

      Class A Office Space

      Class A office space for rent in Lynnwood, WA.
      20700 44Th Ave W, Lynnwood, WA 98036
      View Details
    • $1,390 /Mo
      725 SF

      Office Space with Private Offices

      Third-floor office space featuring two private offices for rent.
      19401 40Th Ave W, Lynnwood, WA 98036
      View Details
    • $3,757 /Mo
      1,960 SF

      Lynnwood Office Space Available

      Ground floor office with private offices and open area.
      19401 40Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      4,377 SF

      Lynnwood Warehouse with Office Space

      4,377 SF flex space with warehouse and office components.
      6116 211Th St SW, Lynnwood, WA 98036
      View Details
    View Listing
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    Lynnwood, WA 98036
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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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    19221 36Th Ave W, Lynnwood, WA, 98036
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