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    Property profile & analytics

    19888 40th Ave Wa Lynnwood, WA 98036-6794

    • Apartment buildings
    • 31,976 SF
    • 2.48 lot acres
    OFF-MARKET
    Last Sale
    Jan 04, 2021
    $9,620,000
    Value Estimations
    $10,005,000
    Show details
    Cap Rate Potential
    4.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US90-1130503
    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.

    Current Use by Public Records

    • Ember Apartments / Apartment Building / Apartment Complex
    • Doorlance Garage Door Repair / Hardware & Home Improvement / Production Facility

    Property Details for 19888 40th Ave Wa

    Year built
    2022
    Construction
    CONCRETE
    Lot size
    2.48 lot acres
    Property size
    31,976 SF
    Zone code
    42
    Property type
    Apartment buildings
    APN
    372600701310
    APU
    372600701310

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,170,000
      ML approach
      $11,885,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,970,000
      6.5%
      $7,360,000
      7%
      $6,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,393,000
      Market price range: $9.57M - $22.6M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $13,225,000
      Current use
      RESTAURANT
      $16,570,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $15,275,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $12,485,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.288
    Latitude
    47.8188
    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
    $67,019
    $8,309,300
    $762,600
    $9,071,900
    -
    $8,309,300
    $762,600
    $9,071,900

    Comparable in this City

    • Value Estimation
      $13,830,000
      100,954 SF

      4807 200th SW St

      APARTMENT HOUSE (100+ UNITS) • 100,954 SF
      4807 200th SW St, Lynnwood, WA 98036-6398
      View Details
    • Value Estimation
      $19,010,000
      111,635 SF

      4727 200th SW St

      APARTMENT HOUSE (100+ UNITS) • 111,635 SF
      4727 200th SW St, Lynnwood, WA 98036-6600
      View Details
    • Value Estimation
      $45,420,000
      337,473 SF

      19501 40th W Ave

      APARTMENT HOUSE (100+ UNITS) • 337,473 SF
      19501 40th W Ave, Lynnwood, WA 98036-5723
      View Details
    • Value Estimation by Request
      168,518 SF

      3710 204th SW St

      APARTMENT HOUSE (100+ UNITS) • 168,518 SF
      3710 204th SW St, Lynnwood, WA 98036-6871
      View Details
    • Value Estimation by Request
      0.24 Acres

      Lynnwood, WA 98036

      APARTMENT HOUSE (100+ UNITS) • 0.24 Acres
      Lynnwood, WA 98036
      View Details
    • Value Estimation
      $675,000
      6,136 SF

      6725 200th SW St

      APARTMENT HOUSE (100+ UNITS) • 6,136 SF
      6725 200th SW St, Lynnwood, WA 98036-5952
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,112 SF

      Remodeled Mixed-Use Building in Lynnwood

      Remodeled commercial/residential building in a fast-growing commercial hub.
      19832 Highway 99, Lynnwood, WA 98036
      View Details
    • $13,495,000
      42 SF

      70-Unit Multifamily Community in Lynnwood

      70-unit multifamily community in Lynnwood, Washington, with redevelopment potential.
      6616-6630 202Nd St SW | Lynnwood, Lynnwood, WA 98036
      View Details
    • $4,495,000
      22,100 SF

      Lynnwood Multifamily Investment Opportunity

      31-unit apartment building with value-add potential in Lynnwood, Washington.
      19628 68Th Ave W, Lynnwood, WA 98036
      View Details
    • $13,495,000

      70-Unit Multifamily Community in Lynnwood

      70-unit multifamily community with diverse unit types on 2.31 acres.
      6616 202Nd St SW, Lynnwood, WA 98036
      View Details
    • $1,900,000

      19207 60th Avenue W, Lynnwood, WA 98036

      Apartment buildings
      19207 60Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing

      Lynnwood Commercial Property For Sale

      1.5 acre commercial property in Lynnwood with mixed-use potential.
      4829 196Th St SW, Lynnwood, WA 98036
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Pad Site For Lease

      Pad site for lease in College Mixed Use District.
      6808 196Th St SW, Lynnwood, WA 98036
      View Details
    • $23 SF/Yr
      73,073 SF

      Lynnwood Corporate Center Office Space

      Prime Lynnwood Office Suites, Multiple Sizes Available
      19401 40Th Ave, Lynnwood, WA 98036
      View Details
    • $20 SF/Yr
      11,419 SF

      Triton Court: Edmonds Retail/Office

      Prime Edmonds location, retail & office suites.
      19921 68Th Ave, Lynnwood, WA 98036
      View Details
    • Contact for pricing

      Lynnwood Industrial Property For Rent

      Industrial property available for rent in Lynnwood, Washington.
      5522 208Th St Southwest, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      1,227 SF

      Lynnwood Office Space For Rent

      Office space for rent with excellent access to highways.
      20818 44Th Ave W, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      39,480 SF

      Lynnwood Retail Space For Lease

      Retail space available in high-traffic Lynnwood shopping center.
      19401 Alderwood Mall Pkwy, Lynnwood, WA 98036
      View Details
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    Lynnwood, WA 98036-6794
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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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