5017 196Th StLynnwood, WA 98036

Property Details for 5017 196Th St

Year built

1965

Construction

WOOD

Lot size

1.84 AC

Property size (Sq ft)

11,346 SF

Zone code

B1

Property type

Office buildings

APN

501700002802

APU

501700002802

Description

The Lynnwood Professional Center, located at 5017 196th St SW in Lynnwood, WA 98036, presents a compelling investment opportunity. This single-building, Class C office complex, built in 1965, offers a total of 13,089 square feet on a 1.84-acre lot. The property boasts 70 parking spaces, providing ample convenience for tenants and visitors. Currently, two suites are available for lease or sale. One suite offers 1,189 square feet of versatile space, ideal for medical professionals or various business services. A second, larger space of 1,811 square feet is also available in the basement, offering a "gray shell" condition with existing plumbing. Situated within Lynnwood's thriving commercial district, this property benefits from high visibility and convenient access to major transportation routes. The property is categorized as both Traditional Office and Medical Office space, making it suitable for a wide range of potential tenants. The property's location in Snohomish County, within the Lynnwood submarket, ensures strong potential for both occupancy and appreciation. This is an excellent opportunity to acquire a well-located commercial property in a growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,468,470

  6.5%

  $3,201,660

  7%

  $2,972,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,448,880

  Geo Method

  $2,185,010

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,500,110

  Retail / Commercial

  $3,294,700

  Mixed-Use / Specialty

  $3,252,600

  Hospitality / Lodging

  $2,346,810

  Institutional / Educational

  $3,370,550

  Residential Income

  $3,943,540

  Multifamily

  $4,897,950

  Automotive / Energy

  $2,889,040

  Parking / Income-Based Land

  $1,026,960

  Restaurant / Food Service

  $1,626,920

  Healthcare / Senior Housing

  $3,366,610

Location Insight

City

Lynnwood

County

Snohomish

State

Washington

Latitude

47.8216

Longitude

-122.302

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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