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    Property profile & analytics

    4010 196Th St SW Lynnwood, WA 98036

    • Turn key restaurants
    • 5,739 SF
    • 0.84 lot acres
    For Sale
    View listing
    $4,950,000
    Last Sale
    May 05, 2025
    $4,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1092112
    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

    • Sno-King Referral Network / Business Service Center
    • The Rock Wood Fired Pizza / Restaurant

    Property Details for 4010 196Th St SW

    Year built
    1974
    Construction
    WOOD
    Lot size
    0.84 lot acres
    Property size
    5,739 SF
    Zone code
    42
    Property type
    Turn key restaurants
    APN
    372600701306
    APU
    372600701306

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,630,000
      ML approach
      $3,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,649,000
      Market price range: $1.21M - $4.76M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,975,000
      Current use
      OFFICE BUILDING
      $3,495,000
      Change: +18% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,740,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.288
    Latitude
    47.8205
    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
    $16,622
    $1,896,100
    $313,900
    $2,210,000
    -
    $1,896,100
    $313,900
    $2,210,000

    Comparable in this City

    • Value Estimation
      $810,000
      9,306 SF

      4231 196th SW St

      RESTAURANT • 9,306 SF
      4231 196th SW St, Lynnwood, WA 98036-6718
      View Details
    • Value Estimation by Request
      990 SF

      4029 196th SW St

      RESTAURANT • 990 SF
      4029 196th SW St, Lynnwood, WA 98036-6714
      View Details
    • Value Estimation
      $515,000
      5,149 SF

      4120 196th SW St

      RESTAURANT • 5,149 SF
      4120 196th SW St, Lynnwood, WA 98036-6717
      View Details
    • Value Estimation by Request
      3,905 SF

      19428 Hwy 99

      RESTAURANT • 3,905 SF
      19428 Hwy 99, Lynnwood, WA 98036-5235
      View Details
    • Value Estimation
      $715,000
      11,075 SF

      2509 196th SW St

      RESTAURANT • 11,075 SF
      2509 196th SW St, Lynnwood, WA 98036-6918
      View Details
    • Value Estimation by Request
      4,111 SF

      2412 196th SW St

      RESTAURANT • 4,111 SF
      2412 196th SW St, Lynnwood, WA 98036-7598
      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
    • $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
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      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
    • $2,500,000

      Adaptable Commercial Property Near I-5

      10,614 SF commercial property suitable for various business purposes.
      19420 21St Ave W, Lynnwood, WA 98036
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      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
    • $3,200,000
      18,670 SF

      Retail Property Near Highway 99

      Retail property with value-add opportunity near Lynnwood Light Rail.
      5116 196Th St SW, Lynnwood, WA 98036
      View Details

    Similar Nearby for Lease

    • $3,898 /Mo
      1,231 SF

      Mixed-Use Space in Future Town Square

      Mixed-use space near Lynnwood Convention Center and Alderwood Mall.
      4001 198Th St SW, Lynnwood, WA 98036
      View Details
    • $4,022 /Mo
      1,270 SF

      Mixed-Use Space in Future Town Square

      Mixed-use space near Lynnwood Convention Center and future Town Square.
      4001 198Th St SW, Lynnwood, WA 98036
      View Details
    • $4,601 /Mo
      1,453 SF

      Lynnwood Mixed-Use Development Retail Space

      New mixed-use development ideal for cafe, coffee, or service use.
      4001 198Th St SW, 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
      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
    • Contact for pricing
      8,562 SF

      Retail Space in Lynnwood, WA

      Retail property available for lease in Lynnwood, Washington.
      4114 198Th St SW, Lynnwood, WA 98036
      View Details
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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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