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Property profile & analytics
FOR LEASE
Retail space
3611 196Th St SW Lynnwood, WA 98036
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1232664
For Lease
1 / 2
$3,345,000
3611 196Th St SW, Lynnwood, WA 98036
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
20,832 SF
Lot
1.67 ac (72,745 SF)
Zoning code
42
APN
372600201400
UPID
US90-1232664
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tom P. Syring, RPh Pharmacy
-
FedEx Drop Box Postal Service Courier Service
-
Voltage Espresso Cafe & Coffee Shop
-
Lamps Plus (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
Stopwatch Espresso, Inc. Cafe & Coffee Shop Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.52M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.35M
Owner & transaction history
Central Puget Sound Regional Transi · 1 yrs held
Central Puget Sound Regional Transi
since 2025
7 recorded transactions
Zoning & alternative use
42 · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,895,000
6.5%
$4,515,000
7%
$4,195,000
Blend value · Realmo final
$3.35M
Range $3.01M – $3.68M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$161 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$46,193
Tax year 2023
Assessed value
$6,130,000
Assessed 2023
Previous assessed
$5,573,000
+10.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$3,491,800
Assessed improvement
$2,638,200
Land market value
$3,491,800
Improvement market value
$2,638,200
Total market value
$6,130,000
Applied tax rate
452.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
20,832 SF
Lot
1.67 ac (72,745 SF)
Zoning code
42
APN
372600201400
UPID
US90-1232664
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
42 · Lynnwood, WA
Zoning 42 · permitted uses
42 · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
1.67 ac
Current owner
From public records · entity-resolved
Central Puget Sound Regional Transi
Individual
Free & Clear · 1 yrs held
Mailing address
1242 STATE AVE STE I, MARYSVILLE, WA 98270-3672
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2025
—
Central Puget Sound Regional Transi
Schoner Square LLC
Warranty Deed
—
Jul 13, 2018
—
Schoner Square LLC
—
Deed
related
$771,000 · Bank Of America
Mar 21, 2008
—
Schoner Square LLC
Schoner Keith & J Trust
Quit Claim Deed
related
—
Apr 23, 2007
—
Schoner Keith & Joanne Trust
Schoner,keith W
Quit Claim Deed
related
—
—
—
Schoner Square LLC
—
Loan Modification
related
$771,000 · Bank Of America
—
—
Keith W Schoner
—
Deed Of Trust
related
$1,634,000 · Bank Of America
—
—
Schoner Square LLC
—
Deed Of Trust
related
$1,515,000 · Bank Of America
—
—
Keith W Schoner
—
Deed Of Trust
related
$1,825,000 · Standard Mortgage Investors
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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