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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6508 196th SW St Lynnwood, WA 98036-5922

    • Medical offices
    • 1,001 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0869519
    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

    • Dr. Daniel V. Phan, MD / Physician
    • VVMD Medical / Medical Clinic

    Property Details for 6508 196th SW St

    Year built
    1952
    Construction
    WOOD
    Lot size
    0.33 lot acres
    Property size
    1,001 SF
    Zone code
    42
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    27042000101300
    APU
    27042000101300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.321
    Latitude
    47.821
    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
    $6,266
    $457,400
    $383,600
    $841,000
    -
    $457,400
    $383,600
    $841,000

    Comparable in this City

    • Value Estimation
      $7,335,000
      42,285 SF

      20200 54th W Ave

      MEDICAL BUILDING • 42,285 SF
      20200 54th W Ave, Lynnwood, WA 98036-6318
      View Details
    • Value Estimation
      $3,610,000
      14,580 SF

      4111 Alderwood Mall Blvd

      MEDICAL BUILDING • 14,580 SF
      4111 Alderwood Mall Blvd, Lynnwood, WA 98036-6765
      View Details
    • Value Estimation by Request
      2,835 SF

      19718 68th Ave W Ste G

      MEDICAL BUILDING • 2,835 SF
      19718 68th Ave W Ste G, Lynnwood, WA 98036-5965
      View Details
    • Value Estimation
      $6,785,000
      28,185 SF

      19116 33rd W Ave

      MEDICAL BUILDING • 28,185 SF
      19116 33rd W Ave, Lynnwood, WA 98036-4706
      View Details
    • Value Estimation
      $7,330,000
      44,862 SF

      Lynnwood, WA 98036

      MEDICAL BUILDING • 44,862 SF
      Lynnwood, WA 98036
      View Details
    • Value Estimation
      $1,210,000
      5,590 SF

      3005 Alderwood Mall Pkwy

      MEDICAL BUILDING • 5,590 SF
      3005 Alderwood Mall Pkwy, Lynnwood, WA 98036-6920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48,550 SF

      Northend Office Space Near Mall

      Centrally located office space near Alderwood Mall with ample parking.
      19031 33Rd Ave W, 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
    • $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
    • $3,275,000

      Classic Brick Office Building Opportunity

      Multi-tenant office building in Lynnwood with upside potential.
      19730 64Th Ave W, Lynnwood, WA 98036
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    • $3,330,000
      15,976 SF

      Lynnwood Office Building Near Station

      15,976 SF office building near Lynnwood Light Rail Station.
      4720 200Th St SW, Lynnwood, WA 98036
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    • $9,000,000

      Warehouse and Office Facility

      Well-maintained warehouse and office near I-5, suitable for various uses.
      21021 66Th Ave, Lynnwood, WA 98036
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      73,073 SF

      Lynnwood Corporate Center Office Space

      Prime Lynnwood Office Suites, Multiple Sizes Available
      19401 40Th Ave, Lynnwood, WA 98036
      View Details
    • $27 SF/Yr
      26,066 SF

      Alderwood Business Campus: Lynnwood, WA

      Versatile Office & Industrial Space Available
      19101 36Th Ave, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      13,089 SF

      Lynnwood Office Building For Sale

      Prime Lynnwood location, two suites available.
      5017 196Th St, Lynnwood, WA 98036
      View Details
    • $24 SF/Yr
      59,445 SF

      Lynnwood East Business Park Offices

      Versatile Lynnwood Office & Warehouse Space
      2027-2031 196Th St, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      4,700 SF

      Well-Equipped Dental Office Sublease

      Prime Lynnwood location, move-in ready, ideal for dental/medical users.
      6101 200Th St SW, Lynnwood, WA 98036
      View Details
    • Contact for pricing
      1,308 SF

      Dental Office Space Available

      Dental office space available for rent starting September 1, 2025.
      19320 40Th Ave W, Lynnwood, WA 98036
      View Details

    Property Visit Statistics

    • Visits by month
      6.8k
    • Visitors by month
      4.7k
    • Avg Time on site
      11 min
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    6508 196th SW St
    Lynnwood, WA 98036-5922
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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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