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    6501 196Th St SW Lynnwood, WA 98036
    Property profile & analytics

    6501 196Th St SW Lynnwood, WA 98036

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    • Retail space
    • 22,107 SF
    • 1.90 lot acres
    For Lease
    $3,452/Mo
    View Listing →
    Lynnwood Retail or Office Space For Lease
    $3,452/Mo
    2,180 SF

    Lynnwood Retail or Office Space

    2180 SF space suitable for retail or office use.

    6501 196th St SW, Lynnwood, WA 98036
    View Listing
    Property ID
    US90-0669023
    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
    $1,305,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Y S Lee Martial Arts / Training Center / Sports School
    • Salon Celebrations / Hair Salon / Nail Salon
    • Lifeplus Health Centers / Alternative Medicine Practice
    • Stephanie Kimball / Alternative Medicine Practice / Spa & Massage Center
    • Speedy Signs / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 6501 196Th St SW

    Year built
    1979
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.90 lot acres
    Property size
    22,107 SF
    Zone code
    42
    Property type
    Retail space
    APN
    27041700400400
    APU
    27041700400400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,555,000
      ML approach
      $1,535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,031,000
      Market price range: $703k - $1.87M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.321
    Latitude
    47.8222
    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
    $40,825
    $2,133,700
    $3,261,300
    $5,395,000
    -
    $2,133,700
    $3,261,300
    $5,395,000

    Comparable in this City

    • Value Estimation
      $5,795,000
      31,500 SF

      Lynnwood, WA 98036

      RETAIL STORES (PERSONAL SERVICES) • 31,500 SF
      Lynnwood, WA 98036
      View Details
    • Value Estimation
      $1,340,000
      6,900 SF

      3925 196th SW St

      RETAIL STORES (PERSONAL SERVICES) • 6,900 SF
      3925 196th SW St, Lynnwood, WA 98036-5798
      View Details
    • Value Estimation
      $3,590,000
      23,433 SF

      19515 44th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 23,433 SF
      19515 44th W Ave, Lynnwood, WA 98036-5619
      View Details
    • Value Estimation
      $7,915,000
      47,550 SF

      19225 Alderwood Mall Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 47,550 SF
      19225 Alderwood Mall Pkwy, Lynnwood, WA 98036-4870
      View Details
    • Value Estimation
      $4,270,000
      37,040 SF

      3115 196th SW St

      RETAIL STORES (PERSONAL SERVICES) • 37,040 SF
      3115 196th SW St, Lynnwood, WA 98036-6959
      View Details
    • Value Estimation
      $8,000,000
      55,071 SF

      7500 196th SW St

      RETAIL STORES (PERSONAL SERVICES) • 55,071 SF
      7500 196th SW St, Lynnwood, WA 98036-5090
      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
    • $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
      View Details
    • $6,525,000

      Lynnwood Commercial Property For Sale

      Prime 1.5-acre commercial property with mixed-use potential near transit.
      4829 196Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      10,614 SF

      Adaptable Commercial Space Near I-5

      10,614 SF commercial property suitable for various business purposes.
      19420 21St Ave W, Lynnwood, WA 98036
      View Details
    • $1,350,000

      Remodeled Mixed-Use Building in Lynnwood

      Remodeled mixed-use 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

    Similar Nearby for Lease

    • Contact for pricing
      1,100 SF

      Retail/Office/Warehouse Space Available

      Retail, office, and warehouse spaces with high visibility.
      5611 196Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Lynnwood, WA

      Retail property available for lease in Lynnwood, Washington.
      4114 198Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      2,021 SF

      Retail Space Near Alderwood Mall

      Retail space available in high-traffic Alderwood Towne Center.
      3105-3225 Alderwood Mall Blvd, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      12,002 SF

      High Visibility Corner Retail Space

      Retail space available in high-traffic Lynnwood location.
      3611 196Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      4,800 SF

      Retail Center Near I-5, I-405

      Retail space in high-traffic area near major highways.
      19220 Alderwood Mall Pkwy, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      8,250 SF

      Retail Space on Highway 99

      Retail space available for lease on Highway 99.
      20321 Highway 99, Lynnwood, WA 98036
      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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    6501 196Th St SW, Lynnwood, WA, 98036
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