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    2902 164th SW St Lynnwood, WA 98087-3201
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    Property profile & analytics

    2902 164th SW St, Lynnwood, WA 98087-3201

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    • Retail properties & Spaces
    • 170,293 SF
    • 14.08 lot acres
    Off-Market
    Property ID
    US90-1572908
    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
    $17,810,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U.S. Bank Branch / Bank / Loan Service
    • Chase Mortgage / Loan Service / Bank
    • Dr. Camelia Esphabod, DDS / Dental Office
    • Gentle Dental Northpointe / Dental Office
    • Providence Lynnwood Clinic / Medical Clinic

    Property Details for 2902 164th SW St

    Year built
    2009
    Construction
    TYPE NOT SPECIFIED
    Lot size
    14.08 lot acres
    Zone code
    SK
    Property type
    Retail properties & Spaces
    APN
    372700101800
    APU
    372700101800

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 20, 2006 $3,241,300 Northpointe Ventures Lydell & Jill Knudson Family L Warranty Deed $8.1M · Key Bank NA
    Jul 19, 2006 — Simmie Energy INC Alderwood Parkway LLC Warranty Deed —
    Mar 7, 2001 $407,250 Dennis P Sheehan Chard,david W & Pats Y Grant Deed —
    Jun 2, 1998 — Knudson LLC Knudson,lydell L & Jill D Quit Claim Deed · related —
    Oct 1, 1988 $21,000 Lydell L Knudson Unknown Grant Deed $15k · Seller

    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
    -122.273
    Latitude
    47.8474
    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
    $232,214
    $12,448,800
    $13,970,800
    $26,419,600
    -
    $12,448,800
    $13,970,800
    $26,419,600

    Comparable in this City

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      $600,000
      6,720 SF

      3429 121st SW St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
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    • Value Estimation by Request
      1,734 SF

      13915 Hwy 99

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      13915 Hwy 99, Lynnwood, WA 98087-1725
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    • Value Estimation by Request
      2.76 Acres

      16100-15900 Highway 99

      Multifamily properties
      16100-15900 Highway 99, North Lynnwood, WA 98087
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    • Value Estimation
      $525,000
      5,352 SF

      12527 Mukilteo Speedway

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      12527 Mukilteo Speedway, Lynnwood, WA 98087-1527
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    • Value Estimation by Request
      5,200 SF

      15002 Hwy 99

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      15002 Hwy 99, Lynnwood, WA 98087-2318
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    • Value Estimation
      $520,000
      4,386 SF

      16225 Hwy 99

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      16225 Hwy 99, Lynnwood, WA 98087-1481
      View Details

    Similar Nearby for Sale

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      23,743 SF

      Lynnwood Warehouse: Hwy 99 Exposure

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    • $699,000

      Mukilteo Speedway Flex Opportunity

      Versatile 1,050 SF building suitable for industrial, office, or retail.
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    • $3,300,000
      23,743 SF

      Warehouse/Retail Space Available

      Warehouse/Retail property for sale or lease with highway access.
      15615 Highway 99, Lynnwood, WA 98087
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    • $1,515,423

      Highway 99 Corner Lot

      30,927 SF lot with high traffic frontage on Highway 99.
      4425 164Th St SW, Lynnwood, WA 98087
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    • $150,000

      Profitable Lynnwood Business Opportunity

      Established Food Business - Turnkey Operation
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      Prime Commercial Lot in Lynnwood

      1.94-acre commercial lot with excellent exposure and accessibility.
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    Similar Nearby for Lease

    • $3,528 /Mo
      5,040 SF

      Lynnwood Flex Space Available

      Flex space suitable for retail, manufacturing, or warehouse use.
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    • Contact for pricing
      12,056 SF

      Retail, Showroom and Warehouse Space

      Retail, showroom, and warehouse spaces available for lease.
      15615 Highway 99, Lynnwood, WA 98087
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    • $3,420 /Mo
      1,140 SF

      Lynnwood Retail Space Available

      Retail space in high-traffic Lynnwood location near Walmart.
      1418 164Th St SW, Lynnwood, WA 98087
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    • Contact for pricing
      2,531 SF

      Retail Space on Highway 99

      Retail space available for lease on Highway 99.
      14920-14928 Highway 99, Lynnwood, WA 98087
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    • $1,875 /Mo
      900 SF

      Retail Space in Grocery-Anchored Center

      900 SF retail space with great visibility in Lynnwood.
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    • Contact for pricing

      Gravel Yard/Parking Lot for Lease

      Flat, graveled storage yard or parking lot with flexible lease terms.
      3417-3429 132Nd St SW, Lynnwood, WA 98087
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    Property Visit Statistics

    • Visits by month
      12.9k
    • Visitors by month
      6.7k
    • Avg Time on site
      14 min
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    Lynnwood, WA 98087-3201
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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.

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