Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2224 196th SW St Lynnwood, WA 98036-7008

    • Agricultural properties
    • 7,200 SF
    • 1.46 lot acres
    OFF-MARKET
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1007513
    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

    • Sunbelt Rentals / (Bike/Boat/Book/etc) Store / Rental Equipment Company

    Property Details for 2224 196th SW St

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.46 lot acres
    Property size
    7,200 SF
    Zone code
    CG
    Property type
    Agricultural properties
    APN
    27042300201000
    APU
    27042300201000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      FARM SUPPLY & EQUIPMENT (COMMERCIAL)
      $515,000
      Current use
      MEDICAL BUILDING
      $980,000
      Change: +90% Conversion: Difficult
      OFFICE BUILDING
      $870,000
      Change: +69% Conversion: Difficult
      RESTAURANT
      $785,000
      Change: +52% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $690,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.264
    Latitude
    47.8201
    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
    $16,339
    $1,354,500
    $689,400
    $2,043,900
    -
    $1,354,500
    $689,400
    $2,043,900

    Comparable in this City

    • Value Estimation
      $7,005,000
      137,044 SF

      3100 196th SW St

      FARM SUPPLY & EQUIPMENT • 137,044 SF
      3100 196th SW St, Lynnwood, WA 98036-6960
      View Details
    • Value Estimation
      $4,530,000
      20,660 SF

      5030 208th SW St

      FARM SUPPLY & EQUIPMENT • 20,660 SF
      5030 208th SW St, Lynnwood, WA 98036-7642
      View Details
    • Value Estimation by Request
      59,445 SF

      2027-2031 196Th St

      Medical offices • 59,445 SF
      2027-2031 196Th St, Lynnwood, WA 98036
      View Details
    • Value Estimation by Request
      3.78 Acres

      Lynnwood, WA 98036

      PARKING LOT • 3.78 Acres
      Lynnwood, WA 98036
      View Details
    • Value Estimation by Request
      9.54 Acres

      Lynnwood, WA 98036

      RECREATIONAL, ENTERTAINMENT • 9.54 Acres
      Lynnwood, WA 98036
      View Details
    • Value Estimation by Request
      4.55 Acres

      Brier, WA 98036

      COLLEGE, UNIVERSITY, VOC SCHOOL • 4.55 Acres
      Brier, WA 98036
      View Details

    Similar Nearby for Sale

    • $11,000,000
      28,560 SF

      Prime Commercial Property Near Lynnwood Link

      3.14 acres near Lynnwood Link Extension, great for redevelopment.
      5026 196Th St SW, Lynnwood, WA 98036
      View Details
    • $1,350,000
      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
    • $4,100,000
      28,738 SF

      Lynnwood Industrial Buildings For Sale

      Two industrial buildings totaling 28,738 SF on 1.54 acres.
      20215-20217 Cedar Valley Rd, Lynnwood, WA 98036
      View Details
    • $2,295,000
      8,400 SF

      Lynnwood Retail Center For Sale

      Three-tenant retail center with high visibility and traffic.
      6812-6820 196Th St SW, Lynnwood, WA 98036
      View Details
    • $2,495,000
      4,904 SF

      Lynnwood Office Building Near Mall

      Office building in a business district near Alderwood Mall.
      18927 33Rd Ave W, 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

    Similar Nearby for Lease

    • $12 SF/Yr
      11,194 SF

      Lynnwood Office Campus: 5 Suites Available

      Modern Office Space, I-5 Access, Abundant Parking
      19221 36Th Ave, Lynnwood, WA 98036
      View Details
    • $20 SF/Yr
      3,283 SF

      Retail/Office/Warehouse Space Available

      Retail, office, and warehouse spaces with high visibility.
      5611 196Th St SW, Lynnwood, WA 98036
      View Details
    • $24 SF/Yr
      5,148 SF

      Office Space with Window Offices

      Office space featuring private offices, conference rooms, and open area.
      4211 Alderwood Mall Blvd, Lynnwood, WA 98036
      View Details
    • $19 SF/Yr
      578 SF

      Lynnwood Office Space Available

      Office space for rent in Lynnwood, Washington, 578 square feet.
      4610-4630 200Th St SW, Lynnwood, WA 98036
      View Details
    • $19 SF/Yr
      2,180 SF

      Retail Space Available For Lease

      Former Chiropractic Office, suitable for service retail with good parking.
      6501 196Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      1,811 SF

      Lynnwood Office Space For Rent

      1,811 SF office space available for lease in Lynnwood.
      5017 196Th St SW, Lynnwood, WA 98036
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2224 196th SW St
    Lynnwood, WA 98036-7008
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.