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4720 200th St SW
Lynnwood, WA 98036
CLS Bldg · Office Property For Sale
INVESTMENT HIGHLIGHTS
- OWNER-USER OR VALUE-ADD OPPORTUNITY
- SIGNIFICANTLY BELOW MARKET RENT (30+%)
- FUTURE DEVELOPMENT POTENTIAL
- EXCEPTIONALLY LOCATED WITHIN WALKING DISTANCE OF LYNNWOOD LIGHT RAIL AND MINUTES FROM I-5
- EXCELLENT DEMOGRAPHICS
- ESSENTIAL SERVICE TENANT BASE
EXECUTIVE SUMMARY
Marcus & Millichap's Brown Retail Group is pleased to present the exclusive offering of the CLS Building, a 15,976 SF value-add or owner/user opportunity located in Lynnwood, WA, adjacent to the newly completed Lynnwood Light Rail Station and just minutes from I-5. The property houses tenants in a variety of industries, and offers direct access to dense residential communities and key employment centers. Currently 79% occupied with tenants paying below market rent, it provides investors or owner/users with immediate cash flow and a prime opportunity to implement a valueadd strategy in one of the region’s fastest-growing submarkets. The property has a City Center West zoning designation in the City Center District, which is designed to promote higher density housing, retail and restaurants, and professional uses. The property is well-positioned for eventual redevelopment at a maximum height of 140 feet.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
15,976 SF
Building Class
C
Year Built
1980
Price
$4,606,536 CAD
Price Per SF
$288.34 CAD
Cap Rate
8.18%
NOI
$376,999 CAD
Percent Leased
79%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,988 SF
Slab To Slab
8’
Building FAR
0.37
Lot Size
0.99 AC
Opportunity Zone
Yes
Zoning
CC-W - City Center West
Parking
42 Spaces (2.63 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Balcony
PROPERTY TAXES
| Parcel Number | 003726-006-007-03 | Improvements Assessment | $322,527 CAD |
| Land Assessment | $5,721,798 CAD | Total Assessment | $6,044,324 CAD |
PROPERTY TAXES
Parcel Number
003726-006-007-03
Land Assessment
$5,721,798 CAD
Improvements Assessment
$322,527 CAD
Total Assessment
$6,044,324 CAD
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