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5710 196th St 24,010 SF Retail Building Lynnwood, WA 98036 $11,496,579 CAD ($478.82 CAD/SF) 7% Cap Rate
Investment Highlights
- Single-tenant net leased investment occupied by Krafter’s Land Cabinetry.
- Annual rent increases tied to CPI adjustments.
- Lease term extends through February 2033 with renewal options.
- Located along 196th Street SW with access to Interstate 5.
Executive Summary
5710 196th Street SW presents the opportunity to acquire a single-tenant net leased investment occupied by Krafter’s Land Cabinetry, a Pacific Northwest cabinetry and home-improvement supplier with multiple Washington locations. The property consists of a 24,261-square-foot building situated on approximately 2.07 acres and benefits from a long-term lease structure with contractual CPI-based rent increases and extension options. The tenant currently occupies the entire property, providing investors with a single-tenant operational model and established occupancy.
The asset is positioned along 196th Street SW in Lynnwood, one of the primary commercial corridors serving South Snohomish County. The location offers direct connectivity to Interstate 5 and convenient access to Highway 99, supporting regional access throughout the North Puget Sound area. The surrounding trade area includes Alderwood Mall, national retailers, restaurants, and service-oriented businesses that contribute to ongoing commercial activity and consumer traffic.
Lynnwood continues to serve as a key retail and service center between Seattle and Everett, benefiting from a substantial regional population base, workforce presence, and household density. The property's Highway Mixed Use (HMU) zoning designation allows for a range of commercial uses and includes a stated 90-foot height allowance, providing additional long-term land use flexibility. Combined with a fully leased occupancy profile, reimbursement structure, and location within an established commercial district, the property offers investors an opportunity to acquire an income-producing asset in a highly visible and accessible market.
The asset is positioned along 196th Street SW in Lynnwood, one of the primary commercial corridors serving South Snohomish County. The location offers direct connectivity to Interstate 5 and convenient access to Highway 99, supporting regional access throughout the North Puget Sound area. The surrounding trade area includes Alderwood Mall, national retailers, restaurants, and service-oriented businesses that contribute to ongoing commercial activity and consumer traffic.
Lynnwood continues to serve as a key retail and service center between Seattle and Everett, benefiting from a substantial regional population base, workforce presence, and household density. The property's Highway Mixed Use (HMU) zoning designation allows for a range of commercial uses and includes a stated 90-foot height allowance, providing additional long-term land use flexibility. Combined with a fully leased occupancy profile, reimbursement structure, and location within an established commercial district, the property offers investors an opportunity to acquire an income-producing asset in a highly visible and accessible market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
24,010 SF
Building Class
C
Year Built
1967
Price
$11,496,579 CAD
Price Per SF
$478.82 CAD
Cap Rate
7%
NOI
$804,761 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
2.07 AC
Opportunity Zone
Yes
Zoning
HMU - Highway Mixed Use
Parking
132 Spaces (5.62 Spaces per 1,000 SF Leased)
Frontage
247’ on 196th Street
Amenities
- Corner Lot
- Signage
- Signalized Intersection
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 005653-000-003-00 | Improvements Assessment | $250,155 CAD |
| Land Assessment | $5,698,218 CAD | Total Assessment | $5,948,373 CAD |
Property Taxes
Parcel Number
005653-000-003-00
Land Assessment
$5,698,218 CAD
Improvements Assessment
$250,155 CAD
Total Assessment
$5,948,373 CAD
Contacts
-
Josh Parnell -
Justin Holmes -
Justice Knox -
Lucy Malone -
First Western Properties
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5710 196th St
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