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    20816 44Th Ave W Lynnwood, WA 98036
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    Property profile & analytics

    20816 44Th Ave W, Lynnwood, WA 98036

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    • Office buildings
    • 59,200 SF
    • 3.33 lot acres
    For Sale
    $9,800,000
    View Listing →
    Lynnwood Office Space For Sale For Sale
    $9,800,000
    4,415 SF

    Lynnwood Office Space For Sale

    Office space featuring open layout, private offices, and conference room.

    20816 44th Ave W, Lynnwood, WA
    View Listing
    Property ID
    US90-1389867
    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

    • Lynnwood Business Licenses / City Government Office
    • Northview Business Park / Business Park
    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • DSHS Community Services - Region 2 Headquarters / Association / Organization
    • Lynnwood Development & Business Services / City Government Office

    Property Details for 20816 44Th Ave W

    Year built
    1990
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.33 lot acres
    Zone code
    42
    Property type
    Office buildings
    APN
    27042100405200
    APU
    27042100405200

    Description

    This exceptional investment opportunity presents a two-story, 59,219 square foot traditional office building located at 20816 44th Ave W, Lynnwood, WA 98036. The property, known as Northview Corporate Center Building C, sits on a 3.33-acre lot and features a multi-tenant occupancy with four credit-rated tenants under a NNN lease structure. The building offers ample parking with a ratio of 5 spaces per 1,000 square feet. This owner-user investment opportunity is priced at $13,800,000 and presents a value-add potential for the discerning investor. The property benefits from its strategic location in Lynnwood, a thriving urban center with easy access to a variety of amenities, including diverse dining, shopping, and entertainment options. Convenient access to public transportation, including bus routes and the new Link Light Rail, as well as major freeways (I-5 and I-405), further enhances its appeal. The property's APN is 27042100405200. There is no ground lease associated with this property. This is a single building offering a significant square footage in a highly desirable location. The building's prime location and strong tenant base make it an attractive investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,745,000
      6.5%
      $17,305,000
      7%
      $16,070,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.297
    Latitude
    47.8099
    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
    $100,868
    $3,365,800
    $9,951,000
    $13,316,800
    -
    $3,365,800
    $9,951,000
    $13,316,800

    Comparable in this City

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    • Value Estimation
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      24,203 SF

      19009 33rd W Ave

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    • Value Estimation
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      8,545 SF

      19505 52nd W Ave

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    • Value Estimation
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      7,816 SF

      20006 Cedar Vly Rd

      PROFESSIONAL BUILDING
      20006 Cedar Vly Rd, Lynnwood, WA 98036-6334
      View Details
    • Value Estimation
      $2,670,000
      13,432 SF

      18908 Hwy 99

      PROFESSIONAL BUILDING
      18908 Hwy 99, Lynnwood, WA 98036-5218
      View Details

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      Lynnwood Multi-Tenant Office Building

      Multi-tenant office building in Lynnwood with upside potential.
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      Lynnwood Value-Add Opportunity

      15,976 SF building near Lynnwood Light Rail Station.
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    Similar Nearby for Lease

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      Classic Brick Office Building

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      Class A Office Space

      Class A office space for rent in Lynnwood, WA.
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      Corporate Office and Medical Facility

      High-image office/medical facility with access to I-5 and I-405.
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      Lynnwood Retail/Office/Warehouse Space Available

      Mixed-use space with high visibility and traffic counts.
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      View Details
    • $1,659 /Mo
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      Lynnwood Commercial Space For Rent

      Commercial space with excellent access to I-5 and I-405.
      20818 44Th Ave W, Lynnwood, WA 98036
      View Details
    • $2,975 /Mo
      1,784 SF

      Lynnwood Office Space Available

      Office space for rent featuring private offices and open area.
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      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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    20816 44Th Ave W, Lynnwood, WA, 98036
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