16824 44th Ave W - Storefront Retail/Office FOR SALE


Lynnwood, WA 98037- Outlying Lynnwood-Snohomish | 
$4,555,000 USD
206-550-9500
16824 44th Ave W, Lynnwood, WA for Sale
$4,555,000 USD
Storefront Retail/Office - FOR SALE
1/3
null | Request Cap Rate

NEW


16824 44th Ave W
Lynnwood, WA 98037
Outlying Lynnwood-Snohomish


HIGHLIGHTS

  • Owner-User or Value-Add Opportunity
  • Significantly Below Market Rent | 7.74% Pro Forma Cap Rate
  • High-Traffic, High Visibility Location (76,000+ VPD)
  • High-Quality Construction w/ ~$1M in Renovations
  • Strong Demographics in a Growing Market
  • In-Place Cash Flow | Priced Below Replacement Cost

OVERVIEW

The Brown Group of Marcus & Millichap has been selected to exclusively market for sale Meadowdale, an 20,150 SF two-story commercial building in Lynnwood, Washington, offering an owner-user or value-add opportunity. Currently 50% occupied, an owner-user can occupy the vacant space while collecting income from in-place retail and office tenants, or a value-add investor can lease up the vacant space at market rents. Offered at $226/SF — significantly below replacement cost — with in-place NNN rents averaging $15.36/SF against achievable market rents above $30/SF NNN, the property presents substantial upside. Built in 2009 and well maintained, the property has received nearly $1M in renovations including interior suite upgrades, electrical upgrades, and VAV unit replacements. Located adjacent to the corner of 44th Ave W and 168th St SW with 76,000+ combined VPD from nearby Hwy 99 (39,000+ VPD) and 44th Ave W (36,000+ VPD), the property offers excellent visibility, easy ingress/egress from multiple arterials, and ample parking. The surrounding trade area includes dense residential neighborhoods and national retailers such as Walmart, Grocery Outlet, Starbucks, AutoZone, and O'Reilly Auto Parts. Within five miles, the property serves approximately 315,000 residents with average household incomes exceeding $135,000. Washington's lack of state income tax further enhances after-tax returns.

FOR SALE DETAILS

PRICE

$4,555,000 USD

PRICE/SF

$225 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Meadowdale | Owner-User or Value-Add

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Freestanding, Medical, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

67

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

CG

APN/PARCEL ID

003727-009-006-01

ASK ABOUT THIS PROPERTY

Luke PallisMarcus & MillichapMore Info
206-550-9500

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Luke PallisMarcus & MillichapMore Info
206-550-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.